Youngstown FHA Loan Rates, Closing Costs & Stats

YOUNGSTOWN-WARREN-BOARDMAN, OH-PA

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    • 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.

    Youngstown's 110 lenders originated 1,493 FHA loans during 2023. The total origination value was $216,165,000, with an average FHA loan value of $144,786.

    Youngstown FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Youngstown averaged 7.21% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Youngstown's average FHA mortgage closing costs are $6,080.

    The average rate for the prior week (2024-04-12) was 6.71% and one month ago for the week of 2024-03-15, the average rate was 6.87%.

    The average rate one year ago was 6.6%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.81%.

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

    Youngstown 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 Youngstown level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Ixonia Bank 254 7.01% $8,551
    QUICKEN LOANS, LLC 163 6.49% $8,177
    The Huntington National Bank 101 6.82% $6,049
    CROSSCOUNTRY MORTGAGE, LLC 94 7.02% $7,791
    UNITED WHOLESALE MORTGAGE, LLC 79 6.61% $8,638
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 50 6.82% $5,425
    WEST PENN FINANCIAL SERVICE CENTER, INC. 33 6.55% $6,488
    FREEDOM MORTGAGE CORPORATION 25 6.92% $8,979
    LIBERTY HOME MORTGAGE CORPORATION 20 7.14% $7,342
    BROKER SOLUTIONS, INC. 18 6.78% $9,024
    UNION HOME MORTGAGE CORP. 18 7.23% $8,189
    American Midwest Mortgage Corporation 17 7.04% $6,323
    Mr. Cooper ( Nationstar Mortgage ) 17 6.16% $12,752
    LOANDEPOT.COM, LLC 16 6.37% $9,639
    NEWREZ LLC 16 6.59% $8,982
    MYCUMORTGAGE, LLC 16 7.01% $7,747
    Equity Prime Mortgage LLC 15 6.12% $7,806
    Citizens Bank 15 6.61% $5,921
    PENNYMAC LOAN SERVICES, LLC 15 6.00% $8,651
    HOWARD HANNA FINANCIAL SERVICES, INC. 14 6.63% $7,327
    JPMorgan Chase Bank 14 6.72% $4,038
    Carrington Mortgage Services, LLC 13 6.78% $10,385
    First Commonwealth Bank 12 6.55% $6,454
    PRIMELENDING, A PLAINSCAPITAL COMPANY 12 7.19% $8,133
    Flagstar Bank, FSB 11 6.62% $8,825
    RAPID MORTGAGE COMPANY 11 7.26% $8,711
    Waterstone Mortgage Corporation 9 7.13% $5,552
    MUTUAL OF OMAHA MORTGAGE, INC. 8 6.97% $10,621
    AMERISAVE MORTGAGE CORPORATION 8 6.22% $9,181
    First Federal Bank of the Midwest 8 6.34% $5,784
    The Farmers National Bank of Canfield 7 6.54% $6,884
    TOP FLITE FINANCIAL, INC. 7 6.93% $10,942
    PLANET HOME LENDING, LLC 7 6.59% $10,630
    GUARANTEED RATE, INC. 7 6.58% $8,396
    JLB CORPORATION 7 6.70% $7,797
    NATIONWIDE MORTGAGE BANKERS, INC. 7 7.20% $7,544
    MICHIGAN MUTUAL, INC. 6 6.40% $9,667
    NFM, INC. 6 7.38% $10,518
    WELCOME HOME FINANCE, L.P. 6 6.40% $6,608
    EQUITY RESOURCES, INC. 6 6.83% $8,353
    RUOFF MORTGAGE COMPANY, INC. 6 6.92% $2,708
    LOANPAL, LLC 5 5.90% $8,445
    RELIANCE FIRST CAPITAL, LLC 4 6.63% $8,616
    PLAZA HOME MORTGAGE, INC. 4 6.31% $8,244
    PNC Bank 4 6.66% $5,640
    EMM LOANS LLC 4 6.59% $7,172
    AFFORDABLE MORTGAGE ADVISORS, LLC. 4 7.09% $8,290
    AMERICAN FINANCING CORPORATION 4 6.62% $6,641
    ZILLOW HOME LOANS, LLC 4 6.50% $8,056
    First National Bank of Pennsylvania 4 6.47% $5,737
    CARDINAL FINANCIAL 4 6.50% $8,749
    LAKEVIEW LOAN SERVICING, LLC 4 6.47% $7,066
    Mortgage Research Center, LLC 4 7.22% $4,428
    AMERICAN FINANCIAL RESOURCES, INC. 4 7.09% $8,458
    Union Savings Bank 3 6.75% $6,092
    MORIA DEVELOPMENT, INC. 3 7.04% $8,925
    DRAPER AND KRAMER MORTGAGE CORP. 3 6.75% $11,076
    SUN WEST MORTGAGE COMPANY, INC. 3 6.37% $10,306
    AMERICAN PACIFIC MORTGAGE CORPORATION 3 6.87% $8,056
    Plains Commerce Bank 3 6.96% $8,140
    GSF Mortgage Corporation 3 6.29% $7,251
    M&T Bank 3 6.67% $5,863
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.75% $10,197
    KeyBank 3 6.63% $9,035
    VILLAGE CAPITAL MORTGAGE 3 5.50% $6,708
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 7.25% $5,346
    POLARIS HOME FUNDING CORP. 2 6.69% $8,580
    ALLIED MORTGAGE GROUP, INC. 2 6.06% $11,725
    FIRST COMMUNITY MORTGAGE, INC. 2 7.06% $8,049
    Fifth Third Bank 2 6.50% $6,302
    MOVEMENT MORTGAGE, LLC 2 6.75% $7,977
    Wells Fargo Bank 2 6.63% $6,170
    Truist 2 7.00% $6,777
    ENDEAVOR CAPITAL, LLC. 2 6.49% $10,704
    ROYAL UNITED MORTGAGE LLC 2 7.19% $9,438
    Bank of America 2 7.88% $9,091
    Paramount Residential Mortgage Group, Inc. 2 6.44% $12,623
    TOWNE MORTGAGE COMPANY 1 6.25% $6,243
    AMCAP MORTGAGE, LTD. 1 6.75% $8,915
    AMERICAN FINANCIAL NETWORK, INC. 1 7.50% $6,343
    American Mortgage & Equity Consultants, Inc. 1 5.25% $9,059
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.25% $4,573
    Bank of England 1 6.25% $7,421
    Barrington Bank & Trust Company, N.A. 1 6.75% $5,953
    BAY EQUITY LLC 1 6.25% $9,075
    CALIBER HOME LOANS, INC. 1 5.75% $8,998
    CHURCHILL MORTGAGE CORPORATION 1 6.63% $9,416
    DAS Acquisition Company, LLC 1 7.38% $8,276
    DEVELOPER'S MORTGAGE COMPANY 1 7.50% $4,687
    East Coast Capital Corp. 1 7.50% $9,941
    Evolve Bank & Trust 1 6.75% $13,765
    First Federal Savings and Loan Association of Lakewood 1 7.25% $9,068
    GENEVA FINANCIAL, LLC 1 6.50% $12,552
    GREENTREE MORTGAGE COMPANY, L.P. 1 6.25% $10,186
    GUILD MORTGAGE COMPANY 1 6.63% $9,334
    Hometown Equity Mortgage, LLC 1 6.25% $8,002
    LEADERONE FINANCIAL CORPORATION 1 6.75% $10,054
    Loan Simple, Inc. 1 5.75% $8,893
    Nations Lending Corporation 1 7.75% $6,966
    OCEANSIDE MORTGAGE COMPANY 1 6.50% $5,144
    PACIFIC RESIDENTIAL MORTGAGE, LLC 1 7.63% $9,851
    PENTAGON FEDERAL CREDIT UNION 1 6.88% $8,661
    PHH Mortgage Corporation 1 6.13% $8,564
    Prosperity Home Mortgage, LLC 1 5.99% $12,937
    T2 FINANCIAL LLC 1 6.75% $8,581
    The Federal Savings Bank 1 6.63% $29,388
    TIDEWATER MORTGAGE SERVICES, INC. 1 6.63% $8,156
    U.S. Bank 1 6.25% $4,297
    V.I.P. MORTGAGE, INC. 1 6.63% $5,805
    YOUR HOME FINANCIAL LLC 1 6.75% $11,833

    The top Youngstown FHA lender as defined by loan originations is Ixonia Bank, with 254 FHA loans originated. Their average total fees are $8,551, which is $374 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Youngstown FHA lenders (with over 10 loans originated) are JPMorgan Chase Bank ($4,038), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($5,425), Citizens Bank ($5,921), The Huntington National Bank ($6,049) and American Midwest Mortgage Corporation ($6,323).

    The lowest rate Youngstown FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (6.00%), Equity Prime Mortgage LLC (6.12%), Mr. Cooper ( Nationstar Mortgage ) (6.16%), LOANDEPOT.COM, LLC (6.37%) and QUICKEN LOANS, LLC (6.49%).

    Youngstown FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA MAHONING 2022 $420,680 $538,650 $651,050 $809,150
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA TRUMBULL 2022 $420,680 $538,650 $651,050 $809,150
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA MERCER 2022 $420,680 $538,650 $651,050 $809,150
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA MAHONING 2023 $472,030 $604,400 $730,525 $907,900
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA TRUMBULL 2023 $472,030 $604,400 $730,525 $907,900
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA MERCER 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Youngstown (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 $105,000 (11.2%) $150,868 (6.2%) 0.39 1,888
    2018-02-01 $102,400 (6.6%) $150,818 (3.6%) 0.37 1,822
    2018-03-01 $109,900 (10.7%) $156,364 (7.6%) 0.39 1,755
    2018-04-01 $111,250 (11.4%) $156,003 (7.0%) 0.38 1,694
    2018-05-01 $118,500 (12.9%) $161,936 (6.4%) 0.40 1,723
    2018-06-01 $118,850 (16.5%) $160,759 (6.9%) 0.40 1,760
    2018-07-01 $117,750 (12.1%) $159,937 (7.8%) 0.39 1,889
    2018-08-01 $119,700 (14.0%) $162,626 (9.4%) 0.40 1,929
    2018-09-01 $120,000 (9.1%) $162,693 (7.4%) 0.40 1,928
    2018-10-01 $120,937 (10.0%) $163,026 (7.2%) 0.41 1,941
    2018-11-01 $119,900 (9.1%) $162,641 (6.0%) 0.41 1,899
    2018-12-01 $119,500 (10.1%) $162,438 (7.8%) 0.41 1,749
    2019-01-01 $119,900 (14.2%) $161,394 (7.0%) 0.41 1,697
    2019-02-01 $119,900 (17.1%) $161,705 (7.2%) 0.41 1,640
    2019-03-01 $122,086 (11.1%) $168,839 (8.0%) 0.40 1,610
    2019-04-01 $122,111 (9.8%) $172,942 (10.9%) 0.39 1,622
    2019-05-01 $124,900 (5.4%) $174,700 (7.9%) 0.39 1,573
    2019-06-01 $129,000 (8.5%) $179,819 (11.9%) 0.40 1,680
    2019-07-01 $129,900 (10.3%) $180,090 (12.6%) 0.41 1,748
    2019-08-01 $129,082 (7.8%) $178,126 (9.5%) 0.41 1,761
    2019-09-01 $127,855 (6.6%) $176,186 (8.3%) 0.41 1,779
    2019-10-01 $125,950 (4.1%) $175,156 (7.4%) 0.41 1,784
    2019-11-01 $122,900 (2.5%) $171,810 (5.6%) 0.40 1,722
    2019-12-01 $119,900 (0.3%) $170,627 (5.0%) 0.40 1,644
    2020-01-01 $119,900 (0.0%) $170,381 (5.6%) 0.40 1,535
    2020-02-01 $119,900 (0.0%) $169,536 (4.8%) 0.39 1,399
    2020-03-01 $120,000 (-1.7%) $174,925 (3.6%) 0.38 1,277
    2020-04-01 $119,700 (-2.0%) $174,852 (1.1%) 0.37 1,214
    2020-05-01 $125,000 (0.1%) $179,592 (2.8%) 0.38 1,114
    2020-06-01 $129,900 (0.7%) $186,647 (3.8%) 0.38 1,017
    2020-07-01 $130,950 (0.8%) $189,096 (5.0%) 0.38 926
    2020-08-01 $135,000 (4.6%) $190,863 (7.2%) 0.39 866
    2020-09-01 $137,450 (7.5%) $194,419 (10.4%) 0.39 796
    2020-10-01 $136,000 (8.0%) $194,938 (11.3%) 0.39 818
    2020-11-01 $136,900 (11.4%) $190,977 (11.2%) 0.40 812
    2020-12-01 $135,450 (13.0%) $191,433 (12.2%) 0.40 753
    2021-01-01 $129,900 (8.3%) $191,043 (12.1%) 0.39 642
    2021-02-01 $129,450 (8.0%) $194,838 (14.9%) 0.38 523
    2021-03-01 $129,900 (8.3%) $189,255 (8.2%) 0.37 476
    2021-04-01 $131,000 (9.4%) $195,347 (11.7%) 0.35 451
    2021-05-01 $139,900 (11.9%) $210,232 (17.1%) 0.37 476
    2021-06-01 $135,250 (4.1%) $201,025 (7.7%) 0.36 589
    2021-07-01 $138,500 (5.8%) $193,972 (2.6%) 0.37 713
    2021-08-01 $132,425 (-1.9%) $192,465 (0.8%) 0.35 767
    2021-09-01 $129,900 (-5.5%) $194,245 (-0.1%) 0.35 773
    2021-10-01 $129,900 (-4.5%) $193,502 (-0.7%) 0.35 773
    2021-11-01 $129,900 (-5.1%) $187,285 (-1.9%) 0.35 751
    2021-12-01 $126,350 (-6.7%) $190,472 (-0.5%) 0.34 662
    2022-01-01 $119,950 (-7.7%) $183,825 (-3.8%) 0.32 580
    2022-02-01 $118,750 (-8.3%) $183,943 (-5.6%) 0.31 486
    2022-03-01 $126,250 (-2.8%) $195,504 (3.3%) 0.32 438
    2022-04-01 $131,950 (0.7%) $203,499 (4.2%) 0.31 476
    2022-05-01 $137,200 (-1.9%) $203,607 (-3.2%) 0.31 567
    2022-06-01 $148,000 (9.4%) $207,977 (3.5%) 0.33 675
    2022-07-01 $146,950 (6.1%) $211,055 (8.8%) 0.33 761
    2022-08-01 $150,000 (13.3%) $211,518 (9.9%) 0.35 815
    2022-09-01 $148,250 (14.1%) $208,344 (7.3%) 0.35 855
    2022-10-01 $149,714 (15.3%) $207,863 (7.4%) 0.35 862
    2022-11-01 $151,250 (16.4%) $209,401 (11.8%) 0.36 826
    2022-12-01 $149,900 (18.6%) $207,102 (8.7%) 0.37 757
    2023-01-01 $149,900 (25.0%) $208,791 (13.6%) 0.37 656
    2023-02-01 $151,200 (27.3%) $208,412 (13.3%) 0.36 576
    2023-03-01 $159,900 (26.7%) $224,253 (14.7%) 0.38 563
    2023-04-01 $159,900 (21.2%) $232,184 (14.1%) 0.37 521
    2023-05-01 $162,450 (18.4%) $235,474 (15.7%) 0.37 511
    2023-06-01 $168,750 (14.0%) $238,221 (14.5%) 0.38 559
    2023-07-01 $172,250 (17.2%) $241,317 (14.3%) 0.39 606
    2023-08-01 $180,538 (20.4%) $245,630 (16.1%) 0.41 676
    2023-09-01 $173,650 (17.1%) $238,173 (14.3%) 0.40 782
    2023-10-01 $168,675 (12.7%) $229,824 (10.6%) 0.40 903
    2023-11-01 $165,000 (9.1%) $225,678 (7.8%) 0.39 897
    2023-12-01 $159,900 (6.7%) $219,997 (6.2%) 0.39 864
    2024-01-01 $164,225 (9.6%) $223,339 (7.0%) 0.40 790
    2024-02-01 $159,900 (5.8%) $224,319 (7.6%) 0.38 706
    2024-03-01 $174,900 (9.4%) $241,851 (7.9%) 0.41 659
    Youngstown's median listing price for 2024-03-01 was $174,900, a difference of $15,000 (9.4%) versus the prior year and $15,000 versus the prior month.

    Youngstown's median listing price comes in at 41% of the national average.

    Youngstown's average listing price for 2024-03-01 was $241,851, a difference of $17,598 (7.9%) versus the prior year and $17,532 versus the prior month.

    For the 2024-03-01 period, Youngstown had 659 MLS listings, a difference of -47 listings (-7%) versus the prior month and 96 listings (17%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Youngstown (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 103 days 1,512 sqft
    2018-02-01 103 days 1,506 sqft
    2018-03-01 88 days 1,508 sqft
    2018-04-01 76 days 1,514 sqft
    2018-05-01 70 days 1,535 sqft
    2018-06-01 64 days 1,572 sqft
    2018-07-01 62 days 1,680 sqft
    2018-08-01 61 days 1,700 sqft
    2018-09-01 65 days 1,700 sqft
    2018-10-01 66 days 1,704 sqft
    2018-11-01 71 days 1,697 sqft
    2018-12-01 86 days 1,693 sqft
    2019-01-01 96 days 1,689 sqft
    2019-02-01 100 days 1,703 sqft
    2019-03-01 87 days 1,707 sqft
    2019-04-01 72 days 1,704 sqft
    2019-05-01 67 days 1,629 sqft
    2019-06-01 65 days 1,632 sqft
    2019-07-01 64 days 1,647 sqft
    2019-08-01 66 days 1,655 sqft
    2019-09-01 69 days 1,683 sqft
    2019-10-01 72 days 1,700 sqft
    2019-11-01 81 days 1,696 sqft
    2019-12-01 90 days 1,682 sqft
    2020-01-01 98 days 1,660 sqft
    2020-02-01 98 days 1,658 sqft
    2020-03-01 90 days 1,673 sqft
    2020-04-01 84 days 1,660 sqft
    2020-05-01 96 days 1,681 sqft
    2020-06-01 91 days 1,688 sqft
    2020-07-01 58 days 1,758 sqft
    2020-08-01 54 days 1,722 sqft
    2020-09-01 62 days 1,732 sqft
    2020-10-01 62 days 1,743 sqft
    2020-11-01 62 days 1,693 sqft
    2020-12-01 71 days 1,698 sqft
    2021-01-01 81 days 1,680 sqft
    2021-02-01 76 days 1,679 sqft
    2021-03-01 53 days 1,656 sqft
    2021-04-01 45 days 1,657 sqft
    2021-05-01 39 days 1,691 sqft
    2021-06-01 32 days 1,601 sqft
    2021-07-01 36 days 1,552 sqft
    2021-08-01 41 days 1,535 sqft
    2021-09-01 45 days 1,518 sqft
    2021-10-01 46 days 1,512 sqft
    2021-11-01 47 days 1,529 sqft
    2021-12-01 56 days 1,507 sqft
    2022-01-01 68 days 1,480 sqft
    2022-02-01 63 days 1,452 sqft
    2022-03-01 52 days 1,493 sqft
    2022-04-01 38 days 1,540 sqft
    2022-05-01 34 days 1,522 sqft
    2022-06-01 35 days 1,582 sqft
    2022-07-01 38 days 1,609 sqft
    2022-08-01 42 days 1,630 sqft
    2022-09-01 46 days 1,602 sqft
    2022-10-01 50 days 1,596 sqft
    2022-11-01 53 days 1,621 sqft
    2022-12-01 62 days 1,568 sqft
    2023-01-01 73 days 1,580 sqft
    2023-02-01 68 days 1,568 sqft
    2023-03-01 49 days 1,638 sqft
    2023-04-01 51 days 1,629 sqft
    2023-05-01 44 days 1,626 sqft
    2023-06-01 38 days 1,661 sqft
    2023-07-01 37 days 1,680 sqft
    2023-08-01 40 days 1,727 sqft
    2023-09-01 40 days 1,661 sqft
    2023-10-01 42 days 1,615 sqft
    2023-11-01 45 days 1,630 sqft
    2023-12-01 57 days 1,573 sqft
    2024-01-01 72 days 1,613 sqft
    2024-02-01 73 days 1,600 sqft
    2024-03-01 59 days 1,652 sqft
    Youngstown's median listing age (time on market) for 2024-03-01 was 59 days. This is 20% longer than the same period one year ago.

    Youngstown's median square footage for active listings during the 2024-03-01 period was 1,652 sqft. One year prior, the average listing was 1,638 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).