Tullahoma FHA Loan Rates, Closing Costs & Stats

Tullahoma-Manchester, TN

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Tullahoma's 85 lenders originated 491 FHA loans during 2024. The total origination value was $123,645,000, with an average FHA loan value of $251,823.

    Tullahoma FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Tullahoma averaged 0.31% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

    Tullahoma's average FHA mortgage closing costs are $8,420.

    The average rate for the prior week (2025-06-27) was 6.69% and one month ago for the week of 2025-05-30, the average rate was 6.77%.

    The average rate one year ago was 6.79%.

    For refis of the same type during the week of 2025-07-04, the average rate was -0.11%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Tullahoma FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Tullahoma level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    FIRST COMMUNITY MORTGAGE, INC. 56 6.57% $11,487
    QUICKEN LOANS, LLC 52 6.28% $10,693
    SeaTrust Mortgage Company 36 6.33% $11,225
    CMG MORTGAGE, INC. 33 6.65% $11,522
    UNITED WHOLESALE MORTGAGE, LLC 30 5.82% $14,202
    FirstBank 16 6.23% $10,914
    BROKER SOLUTIONS, INC. 14 6.78% $11,403
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 12 6.34% $9,914
    PENNYMAC LOAN SERVICES, LLC 11 6.04% $9,716
    The First National Bank of Middle Tennessee 9 6.38% $9,214
    STOCKTON MORTGAGE CORPORATION 9 6.38% $9,266
    LOANDEPOT.COM, LLC 8 6.22% $9,682
    Renasant Bank 7 6.39% $10,434
    Equity Prime Mortgage LLC 7 6.77% $11,498
    MUTUAL OF OMAHA MORTGAGE, INC. 7 7.16% $10,563
    FREEDOM MORTGAGE CORPORATION 6 6.27% $14,251
    CROSSCOUNTRY MORTGAGE, LLC 6 6.89% $11,546
    Flagstar Bank, FSB 6 6.22% $11,352
    SmartBank 5 6.18% $8,462
    MID AMERICA MORTGAGE, INC. 5 7.45% $5,286
    Regions Bank 5 6.30% $8,924
    ISERVE RESIDENTIAL LENDING, LLC 4 6.47% $11,627
    Pinnacle Bank 4 6.38% $8,082
    SWBC MORTGAGE CORPORATION 4 6.09% $9,369
    Mr. Cooper ( Nationstar Mortgage ) 4 6.41% $17,733
    COMMUNITY MORTGAGE CORPORATION 3 6.21% $9,517
    FIRST COLONY MORTGAGE CORPORATION 3 6.75% $9,819
    NEWREZ LLC 3 6.58% $15,221
    Wilson Bank And Trust 3 6.71% $9,026
    SUN WEST MORTGAGE COMPANY, INC. 3 6.25% $13,778
    MORTGAGE INVESTORS GROUP, INC. 3 6.25% $13,012
    Paramount Residential Mortgage Group, Inc. 2 5.94% $17,481
    CARDINAL FINANCIAL 2 6.12% $9,940
    Carrington Mortgage Services, LLC 2 7.88% $8,442
    CHURCHILL MORTGAGE CORPORATION 2 6.50% $13,053
    GUARANTEED RATE, INC. 2 6.19% $13,493
    NATIONS RELIABLE LENDING, LLC 2 5.94% $8,759
    ACOPIA, LLC 2 7.81% $16,262
    PLANET HOME LENDING, LLC 2 6.25% $5,805
    PLAZA HOME MORTGAGE, INC. 2 6.37% $20,693
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 2 6.88% $12,320
    SOUTHWEST FUNDING, LP 2 6.25% $13,030
    T2 FINANCIAL LLC 2 6.63% $8,863
    TOWNE MORTGAGE COMPANY 2 7.19% $13,019
    VERITAS FUNDING, LLC 2 6.00% $17,026
    VILLAGE CAPITAL MORTGAGE 2 6.06% $9,068
    ZILLOW HOME LOANS, LLC 2 5.75% $11,281
    Nations Lending Corporation 1 6.50% $15,185
    American Mortgage & Equity Consultants, Inc. 1 6.75% $10,067
    EVANSVILLE TEACHERS 1 6.63% $8,242
    Northpointe Bank 1 6.13% $11,004
    Old National Bank 1 6.63% $12,175
    TJC Mortgage, Inc. 1 6.50% $10,229
    ENDEAVOR CAPITAL, LLC. 1 6.49% $10,602
    PHH Mortgage Corporation 1 6.49% $12,649
    DELMAR FINANCIAL COMPANY 1 6.00% $9,981
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.63% $5,638
    UNION HOME MORTGAGE CORP. 1 6.13% $11,597
    COMPASS MORTGAGE, INC. 1 6.75% $7,883
    Century Mortgage Company DBA Century Lending Company 1 5.63% $11,201
    BAY EQUITY LLC 1 6.13% $7,605
    AMERICAN FINANCING CORPORATION 1 6.25% $9,098
    ROSS MORTGAGE CORPORATION 1 6.88% $10,642
    ROYAL UNITED MORTGAGE LLC 1 6.25% $16,805
    Barrington Bank & Trust Company, N.A. 1 6.75% $5,983
    Bank of Tennessee 1 5.63% $16,186
    U.S. Bank 1 6.75% $8,324
    SOUTHWEST STAGE FUNDING, LLC 1 7.38% $13,262
    ASCEND FEDERAL CREDIT UNION 1 6.88% $7,340
    AMERISAVE MORTGAGE CORPORATION 1 6.50% $10,697
    AmeriHome Mortgage Company, LLC 1 6.13% $6,608
    US MORTGAGE CORPORATION 1 6.63% $7,855
    Texana Bank 1 6.50% $7,738
    The Federal Savings Bank 1 6.25% $12,889
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.50% $4,445
    Legacy Home Loans, LLC 1 6.13% $7,011
    GUILD MORTGAGE COMPANY 1 6.88% $5,478
    Magnolia Bank 1 5.75% $9,250
    GENEVA FINANCIAL, LLC 1 6.50% $21,864
    MILEND, INC. 1 6.50% $11,194
    GARDNER FINANCIAL SERVICES, LTD. 1 5.25% $19,317
    MOVEMENT MORTGAGE, LLC 1 6.63% $13,013
    FIRST EQUITY MORTGAGE INCORPORATED 1 5.50% $12,737
    M&T Bank 1 6.00% $6,550
    Fifth Third Bank 1 6.63% $9,126

    The top Tullahoma FHA lender as defined by loan originations is FIRST COMMUNITY MORTGAGE, INC., with 56 FHA loans originated. Their average total fees are $11,487, which is $793 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Tullahoma FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC ($9,716), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($9,914), QUICKEN LOANS, LLC ($10,693), FirstBank ($10,914) and SeaTrust Mortgage Company ($11,225).

    The lowest rate Tullahoma FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.82%), PENNYMAC LOAN SERVICES, LLC (6.04%), FirstBank (6.23%), QUICKEN LOANS, LLC (6.28%) and SeaTrust Mortgage Company (6.33%).

    Tullahoma FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    TULLAHOMA-MANCHESTER, TN COFFEE 2022 $420,680 $538,650 $651,050 $809,150
    TULLAHOMA-MANCHESTER, TN FRANKLIN 2022 $420,680 $538,650 $651,050 $809,150
    TULLAHOMA-MANCHESTER, TN MOORE 2022 $420,680 $538,650 $651,050 $809,150
    TULLAHOMA-MANCHESTER, TN COFFEE 2023 $472,030 $604,400 $730,525 $907,900
    TULLAHOMA-MANCHESTER, TN FRANKLIN 2023 $472,030 $604,400 $730,525 $907,900
    TULLAHOMA-MANCHESTER, TN MOORE 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Tullahoma (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $238,675 (9.6%) $324,192 (20.3%) 0.00 162
    2018-02-01 $257,050 (25.5%) $336,866 (22.2%) 0.00 161
    2018-03-01 $269,900 (28.5%) $346,801 (24.8%) 0.00 163
    2018-04-01 $252,175 (17.4%) $348,021 (22.4%) 0.00 168
    2018-05-01 $269,175 (4.6%) $350,377 (6.9%) 0.00 173
    2018-06-01 $249,900 (3.8%) $333,392 (2.6%) 0.00 190
    2018-07-01 $249,900 (-9.4%) $327,011 (-8.1%) 0.00 192
    2018-08-01 $239,900 (-12.3%) $313,549 (-11.3%) 0.00 189
    2018-09-01 $230,400 (-5.8%) $305,067 (-9.6%) 0.00 199
    2018-10-01 $245,297 (2.0%) $315,374 (-6.7%) 0.00 201
    2018-11-01 $242,027 (5.9%) $305,333 (-4.7%) 0.00 203
    2018-12-01 $239,900 (4.4%) $299,391 (-7.8%) 0.00 206
    2019-01-01 $240,963 (1.0%) $300,604 (-7.3%) 0.00 198
    2019-02-01 $251,651 (-2.1%) $312,762 (-7.2%) 0.00 193
    2019-03-01 $262,347 (-2.8%) $321,727 (-7.2%) 0.00 177
    2019-04-01 $268,956 (6.7%) $328,633 (-5.6%) 0.00 157
    2019-05-01 $274,998 (2.2%) $333,880 (-4.7%) 0.00 156
    2019-06-01 $272,250 (8.9%) $327,539 (-1.8%) 0.00 156
    2019-07-01 $273,025 (9.3%) $330,650 (1.1%) 0.00 152
    2019-08-01 $262,627 (9.5%) $321,054 (2.4%) 0.00 168
    2019-09-01 $249,843 (8.4%) $311,059 (2.0%) 0.00 184
    2019-10-01 $239,900 (-2.2%) $303,649 (-3.7%) 0.00 196
    2019-11-01 $237,500 (-1.9%) $301,060 (-1.4%) 0.00 180
    2019-12-01 $230,175 (-4.1%) $296,483 (-1.0%) 0.00 174
    2020-01-01 $235,450 (-2.3%) $306,425 (1.9%) 0.00 161
    2020-02-01 $240,000 (-4.6%) $309,713 (-1.0%) 0.00 154
    2020-03-01 $259,900 (-0.9%) $343,164 (6.7%) 0.00 138
    2020-04-01 $248,825 (-7.5%) $320,920 (-2.4%) 0.00 141
    2020-05-01 $268,900 (-2.2%) $342,589 (2.6%) 0.00 129
    2020-06-01 $297,275 (9.2%) $362,828 (10.8%) 0.00 104
    2020-07-01 $296,400 (8.6%) $351,631 (6.4%) 0.00 102
    2020-08-01 $320,000 (21.9%) $386,000 (20.2%) 0.00 92
    2020-09-01 $305,700 (22.4%) $353,579 (13.7%) 0.00 75
    2020-10-01 $304,900 (27.1%) $340,135 (12.0%) 0.00 62
    2020-11-01 $302,175 (27.2%) $384,098 (27.6%) 0.00 57
    2020-12-01 $274,950 (19.5%) $367,586 (24.0%) 0.00 57
    2021-01-01 $254,000 (7.9%) $316,214 (3.2%) 0.00 66
    2021-02-01 $269,900 (12.5%) $319,007 (3.0%) 0.00 63
    2021-03-01 $293,150 (12.8%) $369,726 (7.7%) 0.00 52
    2021-04-01 $322,400 (29.6%) $367,823 (14.6%) 0.00 48
    2021-05-01 $419,450 (56.0%) $416,692 (21.6%) 0.00 65
    2021-06-01 $393,450 (32.4%) $446,331 (23.0%) 0.00 64
    2021-07-01 $339,900 (14.7%) $442,515 (25.9%) 0.00 77
    2021-08-01 $357,400 (11.7%) $462,353 (19.8%) 0.00 77
    2021-09-01 $374,950 (22.7%) $480,070 (35.8%) 0.00 87
    2021-10-01 $379,900 (24.6%) $507,835 (49.3%) 0.00 98
    2021-11-01 $371,150 (22.8%) $496,814 (29.4%) 0.00 98
    2021-12-01 $361,175 (31.4%) $534,580 (45.4%) 0.00 80
    2022-01-01 $359,900 (41.7%) $572,007 (80.9%) 0.00 66
    2022-02-01 $369,950 (37.1%) $580,501 (82.0%) 0.00 63
    2022-03-01 $381,200 (30.0%) $587,237 (58.8%) 0.00 67
    2022-04-01 $379,700 (17.8%) $541,965 (47.3%) 0.00 86
    2022-05-01 $366,925 (-12.5%) $554,873 (33.2%) 0.00 100
    2022-06-01 $401,450 (2.0%) $574,880 (28.8%) 0.00 128
    2022-07-01 $399,900 (17.7%) $586,232 (32.5%) 0.00 153
    2022-08-01 $415,225 (16.2%) $578,017 (25.0%) 0.00 162
    2022-09-01 $407,450 (8.7%) $562,813 (17.2%) 0.00 159
    2022-10-01 $389,900 (2.6%) $506,772 (-0.2%) 0.00 201
    2022-11-01 $372,450 (0.4%) $481,406 (-3.1%) 0.00 209
    2022-12-01 $375,000 (3.8%) $481,285 (-10.0%) 0.00 195
    2023-01-01 $359,900 (0.0%) $473,986 (-17.1%) 0.00 199
    2023-02-01 $360,558 (-2.5%) $468,934 (-19.2%) 0.00 180
    2023-03-01 $357,500 (-6.2%) $471,831 (-19.7%) 0.00 173
    2023-04-01 $414,900 (9.3%) $519,419 (-4.2%) 0.00 154
    2023-05-01 $419,450 (14.3%) $523,097 (-5.7%) 0.00 157
    2023-06-01 $406,925 (1.4%) $516,057 (-10.2%) 0.00 157
    2023-07-01 $429,000 (7.3%) $504,241 (-14.0%) 0.00 152
    2023-08-01 $404,950 (-2.5%) $481,349 (-16.7%) 0.00 166
    2023-09-01 $399,900 (-1.9%) $480,408 (-14.6%) 0.00 184
    2023-10-01 $404,450 (3.7%) $479,487 (-5.4%) 0.00 187
    2023-11-01 $399,900 (7.4%) $487,818 (1.3%) 0.00 200
    2023-12-01 $385,000 (2.7%) $469,279 (-2.5%) 0.00 208
    2024-01-01 $382,900 (6.4%) $464,435 (-2.0%) 0.00 182
    2024-02-01 $398,500 (10.5%) $478,534 (2.1%) 0.00 170
    2024-03-01 $407,450 (14.0%) $493,555 (4.6%) 0.00 172
    2024-04-01 $416,175 (0.3%) $534,196 (2.8%) 0.00 168
    2024-05-01 $415,700 (-0.9%) $552,165 (5.6%) 0.00 187
    2024-06-01 $419,900 (3.2%) $533,491 (3.4%) 0.00 217
    2024-07-01 $404,900 (-5.6%) $512,181 (1.6%) 0.00 227
    2024-08-01 $379,900 (-6.2%) $486,924 (1.2%) 0.00 238
    2024-09-01 $379,900 (-5.0%) $473,045 (-1.5%) 0.00 272
    2024-10-01 $381,975 (-5.6%) $479,322 (0.0%) 0.00 285
    2024-11-01 $369,900 (-7.5%) $470,964 (-3.5%) 0.00 310
    2024-12-01 $366,000 (-4.9%) $449,766 (-4.2%) 0.00 275
    2025-01-01 $359,950 (-6.0%) $443,623 (-4.5%) 0.00 272
    2025-02-01 $374,425 (-6.0%) $456,111 (-4.7%) 0.00 274
    2025-03-01 $375,000 (-8.0%) $452,177 (-8.4%) 0.00 285
    2025-04-01 $376,975 (-9.4%) $440,151 (-17.6%) 0.00 291
    2025-05-01 $365,900 (-12.0%) $447,921 (-18.9%) 0.00 285
    Tullahoma's median listing price for 2025-05-01 was $365,900, a difference of $-49,800 (-12.0%) versus the prior year and $-11,075 versus the prior month.

    Tullahoma's median listing price comes in at 0% of the national average.

    Tullahoma's average listing price for 2025-05-01 was $447,921, a difference of $-104,244 (-18.9%) versus the prior year and $7,770 versus the prior month.

    For the 2025-05-01 period, Tullahoma had 285 MLS listings, a difference of -6 listings (-2%) versus the prior month and 98 listings (52%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Tullahoma (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,191 sqft
    2018-02-01 0 days 2,302 sqft
    2018-03-01 0 days 2,300 sqft
    2018-04-01 0 days 2,256 sqft
    2018-05-01 0 days 2,324 sqft
    2018-06-01 0 days 2,300 sqft
    2018-07-01 0 days 2,313 sqft
    2018-08-01 0 days 2,112 sqft
    2018-09-01 0 days 2,050 sqft
    2018-10-01 0 days 2,124 sqft
    2018-11-01 0 days 2,117 sqft
    2018-12-01 0 days 2,010 sqft
    2019-01-01 0 days 2,006 sqft
    2019-02-01 0 days 2,101 sqft
    2019-03-01 0 days 2,155 sqft
    2019-04-01 0 days 2,210 sqft
    2019-05-01 0 days 2,284 sqft
    2019-06-01 0 days 2,260 sqft
    2019-07-01 0 days 2,236 sqft
    2019-08-01 0 days 2,192 sqft
    2019-09-01 0 days 2,086 sqft
    2019-10-01 0 days 2,006 sqft
    2019-11-01 0 days 1,999 sqft
    2019-12-01 0 days 1,891 sqft
    2020-01-01 0 days 1,942 sqft
    2020-02-01 0 days 1,949 sqft
    2020-03-01 0 days 2,151 sqft
    2020-04-01 0 days 2,042 sqft
    2020-05-01 0 days 2,113 sqft
    2020-06-01 0 days 2,157 sqft
    2020-07-01 0 days 2,131 sqft
    2020-08-01 0 days 2,128 sqft
    2020-09-01 0 days 2,062 sqft
    2020-10-01 0 days 2,060 sqft
    2020-11-01 0 days 2,035 sqft
    2020-12-01 0 days 2,039 sqft
    2021-01-01 0 days 1,800 sqft
    2021-02-01 0 days 1,770 sqft
    2021-03-01 0 days 2,034 sqft
    2021-04-01 0 days 1,828 sqft
    2021-05-01 0 days 1,911 sqft
    2021-06-01 0 days 1,987 sqft
    2021-07-01 0 days 1,850 sqft
    2021-08-01 0 days 1,890 sqft
    2021-09-01 0 days 2,078 sqft
    2021-10-01 0 days 2,188 sqft
    2021-11-01 0 days 2,033 sqft
    2021-12-01 0 days 2,000 sqft
    2022-01-01 0 days 1,964 sqft
    2022-02-01 0 days 2,020 sqft
    2022-03-01 0 days 2,029 sqft
    2022-04-01 0 days 1,979 sqft
    2022-05-01 0 days 1,952 sqft
    2022-06-01 0 days 2,146 sqft
    2022-07-01 0 days 2,124 sqft
    2022-08-01 0 days 2,094 sqft
    2022-09-01 0 days 2,108 sqft
    2022-10-01 0 days 2,019 sqft
    2022-11-01 0 days 2,003 sqft
    2022-12-01 0 days 2,001 sqft
    2023-01-01 0 days 1,973 sqft
    2023-02-01 0 days 1,952 sqft
    2023-03-01 0 days 1,920 sqft
    2023-04-01 0 days 2,060 sqft
    2023-05-01 0 days 2,100 sqft
    2023-06-01 0 days 2,061 sqft
    2023-07-01 0 days 2,070 sqft
    2023-08-01 0 days 2,047 sqft
    2023-09-01 0 days 2,086 sqft
    2023-10-01 0 days 2,072 sqft
    2023-11-01 0 days 2,028 sqft
    2023-12-01 0 days 2,006 sqft
    2024-01-01 0 days 1,971 sqft
    2024-02-01 0 days 1,965 sqft
    2024-03-01 0 days 2,046 sqft
    2024-04-01 0 days 2,047 sqft
    2024-05-01 0 days 2,015 sqft
    2024-06-01 0 days 1,995 sqft
    2024-07-01 0 days 1,945 sqft
    2024-08-01 0 days 1,904 sqft
    2024-09-01 0 days 1,905 sqft
    2024-10-01 0 days 1,907 sqft
    2024-11-01 0 days 1,838 sqft
    2024-12-01 0 days 1,825 sqft
    2025-01-01 0 days 1,826 sqft
    2025-02-01 0 days 1,877 sqft
    2025-03-01 0 days 1,887 sqft
    2025-04-01 0 days 1,846 sqft
    2025-05-01 0 days 1,828 sqft
    Tullahoma's median listing age (time on market) for 2025-05-01 was 0 days.

    Tullahoma's median square footage for active listings during the 2025-05-01 period was 1,828 sqft. One year prior, the average listing was 2,015 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).