Tulsa FHA Loan Rates, Closing Costs & Stats

TULSA, OK

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.

Tulsa's 149 lenders originated 3,405 FHA loans during 2022. The total origination value was $711,465,000, with an average FHA loan value of $208,947.

Tulsa FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Tulsa averaged 6.28% for the week of 2023-05-26, compared to the national average (all FHA variants) of 6.612% for the same period.

Tulsa's average FHA mortgage closing costs are $7,089.

The average rate for the prior week (2023-05-19) was 6.36% and one month ago for the week of 2023-04-21, the average rate was 5.9%.

The average rate one year ago was 4.92%.

For refis of the same type during the week of 2023-05-26, the average rate was 5.15%.

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

Tulsa 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 Tulsa level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
ASSOCIATED MORTGAGE CORPORATION 247 5.04% $9,424
QUICKEN LOANS, LLC 236 4.54% $9,476
EVERETT FINANCIAL, INC. 230 5.48% $6,363
FLAT BRANCH MORTGAGE, INC. 221 5.14% $8,483
First United Bank and Trust Company 198 4.78% $9,978
US MORTGAGE CORPORATION 121 5.18% $9,683
Arvest Bank 104 4.80% $8,136
BOKF 104 5.14% $8,536
United Fidelity Funding Corp. 98 5.47% $10,062
CORNERSTONE HOME LENDING, INC. 86 5.29% $10,507
Gateway First Bank 80 5.30% $8,157
Waterstone Mortgage Corporation 77 5.35% $9,949
OPEN MORTGAGE, LLC 76 5.03% $10,561
CROSSCOUNTRY MORTGAGE, LLC 75 5.37% $11,745
American Bank of Oklahoma 70 5.10% $9,419
LOANDEPOT.COM, LLC 61 4.95% $10,360
CALIBER HOME LOANS, INC. 60 5.03% $9,065
Chickasaw Community Bank 51 5.17% $8,376
UNITED WHOLESALE MORTGAGE, LLC 51 5.40% $10,925
FREEDOM MORTGAGE CORPORATION 50 4.84% $10,391
PENNYMAC LOAN SERVICES, LLC 39 4.12% $9,623
Mr. Cooper ( Nationstar Mortgage ) 38 4.82% $11,615
GUILD MORTGAGE COMPANY 36 4.71% $10,499
AMERISAVE MORTGAGE CORPORATION 36 4.65% $11,195
CARDINAL FINANCIAL 34 5.25% $11,483
MORTGAGE SOLUTIONS OF COLORADO, LLC 33 5.66% $10,319
MID AMERICA MORTGAGE, INC. 28 4.81% $6,143
BROKER SOLUTIONS, INC. 27 4.90% $9,349
Stride Bank 25 4.64% $8,326
LAKEVIEW LOAN SERVICING, LLC 25 4.25% $7,887
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 24 4.72% $9,300
Firstar Bank 23 4.54% $8,147
NEWREZ LLC 22 4.88% $7,897
BancFirst 22 5.36% $7,083
SpiritBank 19 4.68% $7,208
FBC MORTGAGE, LLC 17 4.82% $8,639
Carrington Mortgage Services, LLC 16 5.09% $10,172
TJC Mortgage, Inc. 16 5.32% $11,716
CMG MORTGAGE, INC. 15 5.03% $10,032
GUARANTEED RATE, INC. 15 5.00% $10,293
Regent Financial Group, Inc. 15 5.09% $9,738
VILLAGE CAPITAL MORTGAGE 14 3.59% $5,183
DHI MORTGAGE COMPANY, LTD. 12 4.73% $7,990
Citizens Bank 12 4.92% $11,273
AmeriHome Mortgage Company, LLC 12 5.36% $9,553
RCB Bank 11 5.11% $6,845
AMERICAN FINANCING CORPORATION 10 5.43% $8,222
PLAZA HOME MORTGAGE, INC. 10 5.62% $8,993
Servion, Inc. 10 4.73% $7,828
AMCAP MORTGAGE, LTD. 10 5.41% $11,720
HOME POINT FINANCIAL CORPORATION 10 4.91% $8,352
Bank of America 10 4.63% $5,677
Nations Lending Corporation 10 5.45% $12,433
JPMorgan Chase Bank 7 5.11% $5,127
MUTUAL OF OMAHA MORTGAGE, INC. 7 4.68% $13,487
NFM, INC. 6 5.60% $9,798
MOVEMENT MORTGAGE, LLC 6 4.65% $11,362
PRIMELENDING, A PLAINSCAPITAL COMPANY 6 5.35% $10,536
LOANPAL, LLC 6 5.56% $12,099
Fidelity Bank 6 5.38% $10,890
Mortgage Research Center, LLC 6 5.94% $5,730
AMERICAN PACIFIC MORTGAGE CORPORATION 5 4.88% $12,103
International Bank of Commerce 5 6.05% $8,393
MidFirst Bank 5 3.58% $9,244
HOMEBRIDGE FINANCIAL SERVICES, INC. 5 4.90% $10,091
ZILLOW HOME LOANS, LLC 5 6.13% $9,067
Flagstar Bank, FSB 5 4.20% $9,419
M&T Bank 5 3.93% $8,221
SENTE MORTGAGE, INC. 5 4.85% $9,044
CHURCHILL MORTGAGE CORPORATION 4 4.78% $11,074
UNION HOME MORTGAGE CORP. 4 6.75% $9,540
Equity Prime Mortgage LLC 4 4.63% $9,467
PLANET HOME LENDING, LLC 4 4.47% $7,582
BAY EQUITY LLC 4 5.69% $11,916
First Savings Bank 3 5.67% $7,463
LIBERTY HOME MORTGAGE CORPORATION 3 3.92% $11,361
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 5.46% $6,756
DAS Acquisition Company, LLC 3 4.71% $9,711
CALCON MUTUAL MORTGAGE LLC 3 6.54% $10,560
NBKC BANK 3 5.04% $9,475
The Central Trust Bank 3 6.25% $7,150
Great Plains National Bank 3 6.00% $10,576
First Guaranty Mortgage Corporation 3 4.13% $8,178
VANDERBILT MORTGAGE AND FINANCE, INC. 3 5.58% $13,000
Paramount Residential Mortgage Group, Inc. 3 5.33% $11,229
AMERICAN HOMESTAR MORTGAGE, L.L.C. 3 5.33% $13,045
AMERICAN FINANCIAL RESOURCES, INC. 3 5.04% $8,621
LEADERONE FINANCIAL CORPORATION 3 3.79% $8,553
SOUTHWEST FUNDING, LP 2 6.50% $5,694
First Oklahoma Mortgage, LLC 2 3.88% $8,273
GENEVA FINANCIAL, LLC 2 3.56% $10,846
ROYAL UNITED MORTGAGE LLC 2 5.75% $12,546
SUN WEST MORTGAGE COMPANY, INC. 2 4.88% $10,307
Prosperity Home Mortgage, LLC 2 4.56% $11,720
U.S. Bank 2 5.00% $8,414
NETWORK CAPITAL FUNDING CORPORATION 2 4.63% $11,884
Mortgage Investment Services Corporation 2 5.13% $8,335
First Option Mortgage, LLC 2 4.00% $12,995
HOMESIDE FINANCIAL, LLC 2 6.63% $9,007
GSF Mortgage Corporation 2 6.50% $7,570
TTCU Federal Credit Union 2 5.19% $7,845
VAN DYK MORTGAGE CORPORATION 1 5.88% $8,064
Watermark Capital, Inc. 1 4.63% $6,854
UNITED 1 5.50% $12,413
F & M Bank 1 4.75% $4,525
First Internet Bank of Indiana 1 4.75% $7,874
GERSHMAN INVESTMENT CORP. 1 4.13% $8,085
Goldwater Bank, N.A. 1 4.63% $6,965
First Federal Bank 1 2.63% $5,342
FIRST AMERICAN MORTGAGE, INC. 1 7.25% $5,393
HOMESTAR FINANCIAL CORPORATION 1 5.63% $13,791
Hometown Lenders, Inc. 1 5.75% $11,504
JLB CORPORATION 1 2.75% $7,749
FINANCE OF AMERICA MORTGAGE LLC 1 4.38% $9,300
Landmark National Bank 1 5.50% $4,816
FAY SERVICING, LLC 1 3.13% $6,491
Community First National Bank 1 4.63% $5,773
NATIONS DIRECT MORTGAGE, LLC 1 5.13% $6,946
COMMUNICATION 1 5.13% $6,828
NEW DAY FINANCIAL, LLC 1 4.25% $5,210
Colonial Savings, F.A. 1 4.88% $12,452
North American Savings Bank, F.S.B. 1 4.63% $10,244
Northpointe Bank 1 5.63% $8,448
Origin Bank 1 3.25% $6,721
CHERRY CREEK MORTGAGE, LLC 1 4.75% $8,096
Peoples Bank 1 4.88% $14,098
PHH Mortgage Corporation 1 5.25% $11,684
Plains Commerce Bank 1 6.25% $11,013
CERTAINTY HOME LOANS, LLC 1 4.00% $9,013
POLARIS HOME FUNDING CORP. 1 6.38% $9,543
PREMIA MORTGAGE, LLC 1 5.25% $3,578
Prosperity Bank 1 4.75% $7,459
Century Mortgage Company DBA Century Lending Company 1 6.25% $8,900
Centennial Bank 1 4.88% $8,891
Capital Bank 1 6.63% $8,704
RUOFF MORTGAGE COMPANY, INC. 1 5.63% $6,602
SECURITYNATIONAL MORTGAGE COMPANY 1 5.25% $6,986
Sierra Pacific Mortgage Company, Inc. 1 4.50% $7,559
SOUTHWEST STAGE FUNDING, LLC 1 3.25% $5,469
Barrington Bank & Trust Company, N.A. 1 4.75% $7,952
Texana Bank 1 4.63% $10,858
The Federal Savings Bank 1 5.63% $11,635
The Union Bank Company 1 5.63% $16,790
BANK OF LITTLE ROCK MORTGAGE CORPORATION 1 6.25% $8,975
Town Square Mortgage & Investments, Inc. 1 5.75% $5,105
TruHome Solutions, LLC 1 5.13% $9,059
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.00% $19,373
UNITED MORTGAGE CORP. 1 5.25% $14,440
ANGEL OAK HOME LOANS LLC 1 5.13% $7,076

The top Tulsa FHA lender as defined by loan originations is ASSOCIATED MORTGAGE CORPORATION, with 247 FHA loans originated. Their average total fees are $9,424, which is $52 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Tulsa FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($5,183), Bank of America ($5,677), MID AMERICA MORTGAGE, INC. ($6,143), EVERETT FINANCIAL, INC. ($6,363) and RCB Bank ($6,845).

The lowest rate Tulsa FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (3.59%), PENNYMAC LOAN SERVICES, LLC (4.12%), LAKEVIEW LOAN SERVICING, LLC (4.25%), Firstar Bank (4.54%) and QUICKEN LOANS, LLC (4.54%).

Tulsa FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
TULSA, OK CREEK 2022 $420,680 $538,650 $651,050 $809,150
TULSA, OK OKMULGEE 2022 $420,680 $538,650 $651,050 $809,150
TULSA, OK OSAGE 2022 $420,680 $538,650 $651,050 $809,150
TULSA, OK PAWNEE 2022 $420,680 $538,650 $651,050 $809,150
TULSA, OK ROGERS 2022 $420,680 $538,650 $651,050 $809,150
TULSA, OK TULSA 2022 $420,680 $538,650 $651,050 $809,150
TULSA, OK WAGONER 2022 $420,680 $538,650 $651,050 $809,150
TULSA, OK CREEK 2023 $472,030 $604,400 $730,525 $907,900
TULSA, OK OKMULGEE 2023 $472,030 $604,400 $730,525 $907,900
TULSA, OK OSAGE 2023 $472,030 $604,400 $730,525 $907,900
TULSA, OK PAWNEE 2023 $472,030 $604,400 $730,525 $907,900
TULSA, OK ROGERS 2023 $472,030 $604,400 $730,525 $907,900
TULSA, OK TULSA 2023 $472,030 $604,400 $730,525 $907,900
TULSA, OK WAGONER 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Tulsa (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 $203,000 (4.1%) $271,321 (2.3%) 0.75 3,983
2018-02-01 $207,956 (4.1%) $272,234 (0.8%) 0.76 3,898
2018-03-01 $215,000 (6.2%) $282,598 (3.4%) 0.75 3,890
2018-04-01 $219,900 (5.0%) $290,016 (3.3%) 0.75 3,917
2018-05-01 $219,900 (3.0%) $290,095 (2.1%) 0.73 4,087
2018-06-01 $217,500 (-0.3%) $287,042 (-0.1%) 0.73 4,305
2018-07-01 $214,975 (0.0%) $287,533 (2.2%) 0.72 4,440
2018-08-01 $213,900 (-1.8%) $287,182 (1.1%) 0.72 4,491
2018-09-01 $213,100 (1.5%) $285,970 (2.2%) 0.72 4,481
2018-10-01 $213,900 (1.9%) $284,302 (1.4%) 0.72 4,340
2018-11-01 $218,750 (6.2%) $287,669 (3.4%) 0.74 4,087
2018-12-01 $214,975 (7.5%) $284,471 (4.1%) 0.74 3,948
2019-01-01 $215,168 (6.0%) $286,078 (5.4%) 0.74 3,686
2019-02-01 $219,950 (5.8%) $294,085 (8.0%) 0.74 3,542
2019-03-01 $225,000 (4.7%) $302,777 (7.1%) 0.75 3,396
2019-04-01 $232,424 (5.7%) $311,947 (7.6%) 0.74 3,388
2019-05-01 $239,250 (8.8%) $323,456 (11.5%) 0.75 3,393
2019-06-01 $236,900 (8.9%) $326,267 (13.7%) 0.74 3,491
2019-07-01 $239,900 (11.6%) $328,888 (14.4%) 0.75 3,506
2019-08-01 $245,000 (14.5%) $334,448 (16.5%) 0.77 3,464
2019-09-01 $251,178 (17.9%) $341,232 (19.3%) 0.79 3,046
2019-10-01 $246,250 (15.1%) $331,720 (16.7%) 0.79 3,236
2019-11-01 $245,000 (12.0%) $325,804 (13.3%) 0.80 3,140
2019-12-01 $249,700 (16.2%) $493,261 (73.4%) 0.83 2,952
2020-01-01 $239,700 (11.4%) $317,556 (11.0%) 0.80 2,844
2020-02-01 $244,635 (11.2%) $325,267 (10.6%) 0.80 2,705
2020-03-01 $255,325 (13.5%) $333,525 (10.2%) 0.80 2,702
2020-04-01 $259,900 (11.8%) $336,137 (7.8%) 0.81 2,669
2020-05-01 $265,500 (11.0%) $350,559 (8.4%) 0.81 2,526
2020-06-01 $281,375 (18.8%) $360,709 (10.6%) 0.83 2,293
2020-07-01 $293,625 (22.4%) $381,751 (16.1%) 0.85 2,169
2020-08-01 $279,900 (14.2%) $370,442 (10.8%) 0.80 2,014
2020-09-01 $281,225 (12.0%) $371,644 (8.9%) 0.81 1,906
2020-10-01 $271,687 (10.3%) $366,167 (10.4%) 0.78 1,900
2020-11-01 $267,450 (9.2%) $368,959 (13.3%) 0.78 1,883
2020-12-01 $265,000 (6.1%) $365,980 (-25.8%) 0.79 1,643
2021-01-01 $269,000 (12.2%) $400,746 (26.2%) 0.80 1,364
2021-02-01 $252,575 (3.3%) $373,982 (15.0%) 0.73 1,165
2021-03-01 $289,000 (13.2%) $402,055 (20.6%) 0.82 1,023
2021-04-01 $272,475 (4.8%) $1,130,579 (236.3%) 0.74 1,088
2021-05-01 $275,000 (3.6%) $404,511 (15.4%) 0.73 1,088
2021-06-01 $252,500 (-10.3%) $383,567 (6.3%) 0.66 1,216
2021-07-01 $255,000 (-13.2%) $377,474 (-1.1%) 0.67 1,389
2021-08-01 $265,000 (-5.3%) $365,857 (-1.2%) 0.71 1,534
2021-09-01 $265,000 (-5.8%) $367,727 (-1.1%) 0.71 1,496
2021-10-01 $265,000 (-2.5%) $374,248 (2.2%) 0.71 1,458
2021-11-01 $254,087 (-5.0%) $370,409 (0.4%) 0.68 1,314
2021-12-01 $251,450 (-5.1%) $366,281 (0.1%) 0.68 1,119
2022-01-01 $260,000 (-3.4%) $385,176 (-3.9%) 0.70 926
2022-02-01 $273,310 (8.2%) $401,266 (7.3%) 0.71 830
2022-03-01 $272,185 (-5.8%) $404,593 (0.6%) 0.68 769
2022-04-01 $295,000 (8.3%) $408,633 (-63.9%) 0.70 843
2022-05-01 $297,500 (8.2%) $408,258 (0.9%) 0.68 1,067
2022-06-01 $299,950 (18.8%) $411,896 (7.4%) 0.67 1,232
2022-07-01 $313,964 (23.1%) $397,709 (5.4%) 0.71 1,675
2022-08-01 $313,269 (18.2%) $395,518 (8.1%) 0.72 1,848
2022-09-01 $315,589 (19.1%) $390,205 (6.1%) 0.74 1,939
2022-10-01 $319,250 (20.5%) $390,789 (4.4%) 0.75 2,048
2022-11-01 $316,995 (24.8%) $389,280 (5.1%) 0.76 2,097
2022-12-01 $329,990 (31.2%) $399,609 (9.1%) 0.81 1,993
2023-01-01 $344,700 (32.6%) $409,588 (6.3%) 0.85 1,923
2023-02-01 $354,262 (29.6%) $417,527 (4.1%) 0.85 1,783
2023-03-01 $361,920 (33.0%) $428,435 (5.9%) 0.85 1,762
2023-04-01 $369,900 (25.4%) $430,784 (5.4%) 0.86 1,822
Tulsa's median listing price for 2023-04-01 was $369,900, a difference of $74,900 (25.4%) versus the prior year and $7,980 versus the prior month.

Tulsa's median listing price comes in at 86% of the national average.

Tulsa's average listing price for 2023-04-01 was $430,784, a difference of $22,151 (5.4%) versus the prior year and $2,349 versus the prior month.

For the 2023-04-01 period, Tulsa had 1,822 MLS listings, a difference of 60 listings (3%) versus the prior month and 979 listings (116%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Tulsa (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 71 days 2,099 sqft
2018-02-01 66 days 2,106 sqft
2018-03-01 53 days 2,184 sqft
2018-04-01 51 days 2,213 sqft
2018-05-01 49 days 2,201 sqft
2018-06-01 51 days 2,189 sqft
2018-07-01 58 days 2,180 sqft
2018-08-01 58 days 2,162 sqft
2018-09-01 61 days 2,143 sqft
2018-10-01 65 days 2,130 sqft
2018-11-01 66 days 2,148 sqft
2018-12-01 68 days 2,125 sqft
2019-01-01 71 days 2,123 sqft
2019-02-01 60 days 2,165 sqft
2019-03-01 54 days 2,212 sqft
2019-04-01 52 days 2,255 sqft
2019-05-01 50 days 2,292 sqft
2019-06-01 53 days 2,258 sqft
2019-07-01 58 days 2,275 sqft
2019-08-01 63 days 2,344 sqft
2019-09-01 67 days 2,376 sqft
2019-10-01 60 days 2,321 sqft
2019-11-01 60 days 2,289 sqft
2019-12-01 65 days 2,281 sqft
2020-01-01 71 days 2,227 sqft
2020-02-01 65 days 2,213 sqft
2020-03-01 51 days 2,261 sqft
2020-04-01 54 days 2,266 sqft
2020-05-01 54 days 2,294 sqft
2020-06-01 53 days 2,339 sqft
2020-07-01 52 days 2,434 sqft
2020-08-01 51 days 2,358 sqft
2020-09-01 50 days 2,346 sqft
2020-10-01 49 days 2,290 sqft
2020-11-01 51 days 2,228 sqft
2020-12-01 60 days 2,230 sqft
2021-01-01 65 days 2,206 sqft
2021-02-01 62 days 2,085 sqft
2021-03-01 49 days 2,261 sqft
2021-04-01 42 days 2,134 sqft
2021-05-01 39 days 2,132 sqft
2021-06-01 37 days 2,011 sqft
2021-07-01 37 days 2,012 sqft
2021-08-01 37 days 2,015 sqft
2021-09-01 40 days 1,984 sqft
2021-10-01 45 days 1,992 sqft
2021-11-01 46 days 1,924 sqft
2021-12-01 51 days 1,936 sqft
2022-01-01 53 days 1,951 sqft
2022-02-01 43 days 2,006 sqft
2022-03-01 40 days 1,934 sqft
2022-04-01 31 days 2,025 sqft
2022-05-01 33 days 2,024 sqft
2022-06-01 36 days 2,040 sqft
2022-07-01 31 days 2,018 sqft
2022-08-01 39 days 2,039 sqft
2022-09-01 45 days 2,051 sqft
2022-10-01 47 days 2,083 sqft
2022-11-01 52 days 2,080 sqft
2022-12-01 60 days 2,121 sqft
2023-01-01 65 days 2,168 sqft
2023-02-01 58 days 2,180 sqft
2023-03-01 52 days 2,228 sqft
2023-04-01 46 days 2,244 sqft
Tulsa's median listing age (time on market) for 2023-04-01 was 46 days. This is 48% longer than the same period one year ago.

Tulsa's median square footage for active listings during the 2023-04-01 period was 2,244 sqft. One year prior, the average listing was 2,025 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).