Oregon FHA Loan Rates, Closing Costs & Stats

Oregon

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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.

    Oregon FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Oregon averaged 6.78% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

    Oregon's average FHA mortgage closing costs are $10,722.

    The average rate for the prior week (2024-04-05) was 6.61% and one month ago for the week of 2024-03-08, the average rate was 6.55%.

    The average rate one year ago was 6.08%.

    For refis of the same type during the week of 2024-04-12, the average rate was 7.09%.

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

    Oregon 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 Oregon level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 782 6.11% $16,658
    GUILD MORTGAGE COMPANY 530 6.49% $16,610
    QUICKEN LOANS, LLC 483 6.16% $15,423
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 309 6.52% $15,295
    SUMMIT FUNDING, INC. 242 6.41% $17,752
    CMG MORTGAGE, INC. 231 6.46% $14,727
    CROSSCOUNTRY MORTGAGE, LLC 192 6.79% $15,909
    LOANDEPOT.COM, LLC 178 6.27% $16,122
    MORTGAGE EXPRESS, LLC 161 6.50% $15,733
    NEWREZ LLC 158 6.45% $14,606
    AMERICAN PACIFIC MORTGAGE CORPORATION 150 6.54% $15,620
    NATIONS DIRECT MORTGAGE, LLC 149 6.32% $15,440
    DIRECTORS MORTGAGE, INC. 138 6.92% $18,730
    ACADEMY MORTGAGE CORPORATION 127 6.61% $17,393
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 107 6.63% $16,672
    MANN FINANCIAL INC. 106 6.58% $14,603
    Century Mortgage Company DBA Century Lending Company 101 6.23% $14,309
    DHI MORTGAGE COMPANY, LTD. 99 5.55% $12,042
    PENNYMAC LOAN SERVICES, LLC 98 5.98% $17,481
    PACIFIC RESIDENTIAL MORTGAGE, LLC 98 6.56% $17,584
    MOVEMENT MORTGAGE, LLC 82 6.68% $16,071
    CALIBER HOME LOANS, INC. 73 6.15% $14,338
    CHURCHILL MORTGAGE CORPORATION 72 6.45% $15,220
    S1L, Inc. 68 6.52% $17,742
    Nations Lending Corporation 65 6.58% $12,148
    BROKER SOLUTIONS, INC. 63 6.69% $16,408
    PLAZA HOME MORTGAGE, INC. 63 6.32% $18,245
    Willamette Valley Bank 62 6.45% $16,055
    Flagstar Bank, FSB 60 6.55% $12,670
    LPMC, LLC 58 6.60% $13,765
    EAGLE HOME MORTGAGE, LLC 55 5.88% $15,116
    FREEDOM MORTGAGE CORPORATION 54 6.84% $18,111
    GUARANTEED RATE, INC. 54 6.30% $16,226
    MUTUAL OF OMAHA MORTGAGE, INC. 53 6.49% $16,824
    AMERICAN FINANCIAL NETWORK, INC. 50 6.75% $18,244
    Sierra Pacific Mortgage Company, Inc. 50 6.23% $15,808
    AMERISAVE MORTGAGE CORPORATION 46 5.83% $18,645
    CANOPY MORTGAGE, LLC 43 6.50% $19,527
    PANORAMA MORTGAGE GROUP, LLC 41 6.91% $18,308
    PREMIER MORTGAGE RESOURCES, L.L.C. 40 6.51% $18,155
    Banner Bank 40 6.22% $13,106
    Mr. Cooper ( Nationstar Mortgage ) 40 6.05% $20,103
    Umpqua Bank 39 6.50% $14,306
    MASON MCDUFFIE MORTGAGE CORPORATION 38 6.45% $15,586
    OnPoint Community Credit Union 38 6.80% $12,212
    NOVA FINANCIAL & INVESTMENT CORPORATION 36 6.43% $15,480
    HOMEBRIDGE FINANCIAL SERVICES, INC. 34 6.01% $17,225
    Paramount Residential Mortgage Group, Inc. 34 6.80% $17,278
    CARDINAL FINANCIAL 32 6.32% $17,045
    GENEVA FINANCIAL, LLC 31 6.74% $21,600
    AXIA FINANCIAL, LLC 30 6.37% $15,760
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 30 6.38% $14,837
    U.S. Bank 30 6.38% $12,660
    SUN WEST MORTGAGE COMPANY, INC. 28 6.21% $17,277
    Golden Empire Mortgage, Inc. 28 6.70% $17,487
    American Mortgage & Equity Consultants, Inc. 28 6.76% $18,977
    BAY EQUITY LLC 27 6.26% $16,655
    HomeStreet Bank 27 6.27% $14,546
    Equity Prime Mortgage LLC 26 6.67% $17,646
    AMERICAN FINANCIAL RESOURCES, INC. 25 6.30% $15,538
    Loan Simple, Inc. 23 7.03% $18,327
    Carrington Mortgage Services, LLC 23 6.38% $16,244
    MORTGAGE SOLUTIONS OF COLORADO, LLC 23 6.75% $15,582
    MOUNTAIN WEST FINANCIAL, INC. 22 6.24% $15,668
    PRIMELENDING, A PLAINSCAPITAL COMPANY 21 6.74% $19,800
    PRIORITY HOME LENDING, LLC 21 5.42% $17,877
    KeyBank 20 5.94% $14,613
    PLANET HOME LENDING, LLC 19 5.98% $13,185
    SUMMIT MORTGAGE CORPORATION 19 6.66% $18,985
    DAS Acquisition Company, LLC 18 6.79% $17,281
    Bank of England 17 6.67% $15,930
    V.I.P. MORTGAGE, INC. 17 6.38% $15,510
    OCMBC, INC. 16 7.23% $16,421
    FIRST COLONY MORTGAGE CORPORATION 15 6.70% $13,139
    ZILLOW HOME LOANS, LLC 15 6.11% $15,510
    JPMorgan Chase Bank 14 6.61% $10,162
    Plains Commerce Bank 14 6.45% $15,390
    Franklin Loan Corporation 14 6.22% $19,038
    VERITAS FUNDING, LLC 13 6.61% $22,933
    AMERICAN FINANCING CORPORATION 13 6.35% $16,920
    GoPrime Mortgage, Inc. 12 6.13% $14,481
    LOANPAL, LLC 12 5.72% $18,436
    MID AMERICA MORTGAGE, INC. 12 6.79% $5,645
    UNION HOME MORTGAGE CORP. 12 6.69% $16,269
    ON Q FINANCIAL, INC. 12 6.79% $14,189
    SUCCESS MORTGAGE PARTNERS, INC. 12 6.46% $16,069
    South Pacific Financial Corporation 12 5.43% $13,654
    Prosperity Home Mortgage, LLC 12 6.43% $16,752
    CALCON MUTUAL MORTGAGE LLC 11 7.44% $19,389
    HOMEAMERICAN MORTGAGE CORPORATION 11 5.49% $12,132
    PRIMARY RESIDENTIAL MORTGAGE, INC. 10 6.79% $16,927
    LEADERONE FINANCIAL CORPORATION 10 6.80% $17,679
    iCore Lending, Inc. 10 6.67% $21,721
    LADERA LENDING, INC. 10 6.59% $16,197
    The Loan Store, Inc. 10 6.77% $18,004
    Mortgage Research Center, LLC 10 6.79% $8,452
    Commerce Home Mortgage, Inc. 9 6.44% $18,555
    VILLAGE CAPITAL MORTGAGE 9 6.38% $13,573
    Wells Fargo Bank 9 6.22% $8,597
    NFM, INC. 8 6.67% $19,380
    EVERETT FINANCIAL, INC. 8 6.88% $16,645
    Hometown Equity Mortgage, LLC 8 6.34% $18,007
    The Federal Savings Bank 8 6.34% $18,807
    RANLIFE, INC. 8 5.81% $16,669
    LAKEVIEW LOAN SERVICING, LLC 8 5.92% $16,987
    Citizens Bank 8 6.88% $13,397
    Sunflower Bank 7 6.30% $21,290
    Cornerstone First Mortgage, Inc 7 6.66% $20,095
    ENVOY MORTGAGE, LTD 7 7.00% $15,865
    RESIDENTIAL MORTGAGE, LLC 6 6.41% $15,844
    TruHome Solutions, LLC 6 5.98% $14,764
    Bank of the Pacific 6 6.10% $14,017
    Keystone Funding, Inc. 5 6.72% $14,497
    AmeriHome Mortgage Company, LLC 5 5.85% $13,772
    NETWORK CAPITAL FUNDING CORPORATION 5 6.10% $13,326
    PHH Mortgage Corporation 5 5.87% $16,673
    BECKAM FUNDING CORP. 5 6.90% $21,273
    Washington Trust Bank 5 6.25% $16,314
    BMO Harris Bank 4 6.22% $10,006
    CITY FIRST MORTGAGE SERVICES, L.L.C. 4 7.06% $12,937
    LIBERTY HOME MORTGAGE CORPORATION 4 7.13% $13,459
    EMM LOANS LLC 4 5.91% $19,317
    MYCUMORTGAGE, LLC 4 7.00% $9,857
    NBKC BANK 4 6.38% $10,846
    PENTAGON FEDERAL CREDIT UNION 4 5.16% $18,814
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 3 7.17% $18,266
    EMBRACE HOME LOANS, INC. 3 6.21% $14,018
    CORNERSTONE HOME LENDING, INC. 3 6.46% $19,406
    HOMESIDE FINANCIAL, LLC 3 6.17% $17,133
    MLD MORTGAGE INC. 3 6.38% $15,115
    M&T Bank 3 6.88% $8,244
    UNITED SECURITY FINANCIAL CORP 3 7.04% $26,009
    TOWNE MORTGAGE COMPANY 3 5.79% $21,043
    TOP FLITE FINANCIAL, INC. 3 7.04% $16,119
    PREMIA MORTGAGE, LLC 3 6.67% $10,793
    FIRST CENTENNIAL MORTGAGE CORPORATION 3 6.96% $13,017
    Ixonia Bank 3 6.42% $15,133
    Boeing Employees Credit Union 2 6.94% $7,969
    TJC Mortgage, Inc. 2 6.75% $11,504
    SECURITYNATIONAL MORTGAGE COMPANY 2 6.81% $8,959
    AMCAP MORTGAGE, LTD. 2 7.13% $22,060
    JMAC LENDING, INC. 2 6.63% $15,059
    Lakeview Community Capital, LLC 2 6.50% $13,193
    Evolve Bank & Trust 2 6.94% $14,909
    Strong Home Mortgage, LLC 2 6.31% $14,590
    Chickasaw Community Bank 2 7.19% $7,639
    Bank of America 2 6.63% $14,787
    Zions Bank 1 5.88% $12,822
    ALAMEDA MORTGAGE CORPORATION 1 7.25% $17,096
    ALLIED MORTGAGE GROUP, INC. 1 6.13% $21,282
    Ameris Bank 1 5.38% $16,602
    Axos Bank 1 6.63% $10,996
    Bank of the West 1 5.38% $11,949
    Bell Bank 1 6.25% $10,847
    Capital Bank 1 6.75% $28,552
    CASTLE & COOKE MORTGAGE, LLC 1 6.25% $6,627
    CHERRY CREEK MORTGAGE, LLC 1 6.13% $7,485
    Credence Funding Corporation 1 5.88% $7,623
    CUSTOMER SERVICE MORTGAGE CORPORATION 1 7.13% $11,524
    DATA MORTGAGE, INC. 1 6.63% $23,962
    D. L. Evans Bank 1 6.25% $11,953
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 7.25% $17,777
    Florida Capital Bank 1 6.13% $19,327
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 7.50% $18,553
    GSF Mortgage Corporation 1 6.13% $19,974
    HOMEXPRESS MORTGAGE CORP. 1 7.88% $18,191
    IDAHO CENTRAL 1 6.63% $12,435
    INTERCAP LENDING INC. 1 6.63% $12,792
    ISERVE RESIDENTIAL LENDING, LLC 1 7.50% $15,097
    JLB CORPORATION 1 6.50% $16,824
    JMJ FINANCIAL GROUP 1 5.75% $18,586
    LAND HOME FINANCIAL SERVICES, INC. 1 7.25% $12,972
    LOANLEADERS OF AMERICA, INC. 1 5.38% $24,632
    Magnolia Bank 1 5.75% $23,972
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.25% $22,441
    NEW DAY FINANCIAL, LLC 1 7.99% $13,918
    NEXERA HOLDING LLC 1 5.63% $10,882
    North American Savings Bank, F.S.B. 1 6.13% $13,699
    Northpointe Bank 1 6.25% $12,761
    PENRITH HOME LOANS LLC 1 7.13% $11,776
    Performance Financial, Inc. 1 6.50% $12,506
    POLARIS HOME FUNDING CORP. 1 6.63% $11,723
    Princeton Mortgage Corporation 1 7.13% $12,466
    RELIANCE FIRST CAPITAL, LLC 1 6.13% $13,960
    ROYAL UNITED MORTGAGE LLC 1 7.75% $5,759
    SOUTHWEST STAGE FUNDING, LLC 1 7.25% $9,260
    STARBOARD FINANCIAL MANAGEMENT, LLC 1 6.63% $19,899
    Summit Mortgage Corporation 1 5.63% $17,950
    VISION ONE MORTGAGE, INC. 1 7.00% $11,365
    Waterstone Mortgage Corporation 1 5.63% $15,545
    1st Security Bank of Washington 1 7.25% $14,912

    The top Oregon FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 782 FHA loans originated. Their average total fees are $16,658, which is $48 higher than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Oregon FHA lenders (with over 10 loans originated) are MID AMERICA MORTGAGE, INC. ($5,645), Mortgage Research Center, LLC ($8,452), JPMorgan Chase Bank ($10,162), DHI MORTGAGE COMPANY, LTD. ($12,042) and HOMEAMERICAN MORTGAGE CORPORATION ($12,132).

    The lowest rate Oregon FHA lenders (with over 10 loans originated) are PRIORITY HOME LENDING, LLC (5.42%), South Pacific Financial Corporation (5.43%), HOMEAMERICAN MORTGAGE CORPORATION (5.49%), DHI MORTGAGE COMPANY, LTD. (5.55%) and LOANPAL, LLC (5.72%).

    Oregon FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    NON-METRO BAKER 2022 $420,680 $538,650 $651,050 $809,150
    CORVALLIS, OR BENTON 2022 $483,000 $618,300 $747,400 $928,850
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA CLACKAMAS 2022 $598,000 $765,550 $925,350 $1,150,000
    ASTORIA, OR CLATSOP 2022 $437,000 $559,450 $676,200 $840,400
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA COLUMBIA 2022 $598,000 $765,550 $925,350 $1,150,000
    COOS BAY, OR COOS 2022 $420,680 $538,650 $651,050 $809,150
    PRINEVILLE, OR CROOK 2022 $420,680 $538,650 $651,050 $809,150
    BROOKINGS, OR CURRY 2022 $420,680 $538,650 $651,050 $809,150
    BEND, OR DESCHUTES 2022 $569,250 $728,750 $880,900 $1,094,700
    ROSEBURG, OR DOUGLAS 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO GILLIAM 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO GRANT 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO HARNEY 2022 $420,680 $538,650 $651,050 $809,150
    HOOD RIVER, OR HOOD RIVER 2022 $599,150 $767,000 $927,150 $1,152,250
    MEDFORD, OR JACKSON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO JEFFERSON 2022 $420,680 $538,650 $651,050 $809,150
    GRANTS PASS, OR JOSEPHINE 2022 $420,680 $538,650 $651,050 $809,150
    KLAMATH FALLS, OR KLAMATH 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO LAKE 2022 $420,680 $538,650 $651,050 $809,150
    EUGENE-SPRINGFIELD, OR LANE 2022 $420,680 $538,650 $651,050 $809,150
    NEWPORT, OR LINCOLN 2022 $420,680 $538,650 $651,050 $809,150
    ALBANY-LEBANON, OR LINN 2022 $420,680 $538,650 $651,050 $809,150
    ONTARIO, OR-ID MALHEUR 2022 $420,680 $538,650 $651,050 $809,150
    SALEM, OR MARION 2022 $420,680 $538,650 $651,050 $809,150
    HERMISTON-PENDLETON, OR MORROW 2022 $420,680 $538,650 $651,050 $809,150
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA MULTNOMAH 2022 $598,000 $765,550 $925,350 $1,150,000
    SALEM, OR POLK 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO SHERMAN 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO TILLAMOOK 2022 $420,680 $538,650 $651,050 $809,150
    HERMISTON-PENDLETON, OR UMATILLA 2022 $420,680 $538,650 $651,050 $809,150
    LA GRANDE, OR UNION 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO WALLOWA 2022 $420,680 $538,650 $651,050 $809,150
    THE DALLES, OR WASCO 2022 $420,680 $538,650 $651,050 $809,150
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA WASHINGTON 2022 $598,000 $765,550 $925,350 $1,150,000
    NON-METRO WHEELER 2022 $420,680 $538,650 $651,050 $809,150
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA YAMHILL 2022 $598,000 $765,550 $925,350 $1,150,000
    NON-METRO BAKER 2023 $472,030 $604,400 $730,525 $907,900
    CORVALLIS, OR BENTON 2023 $560,050 $716,950 $866,650 $1,077,050
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA CLACKAMAS 2023 $672,750 $861,250 $1,041,050 $1,293,750
    ASTORIA, OR CLATSOP 2023 $529,000 $677,200 $818,600 $1,017,300
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA COLUMBIA 2023 $672,750 $861,250 $1,041,050 $1,293,750
    COOS BAY, OR COOS 2023 $472,030 $604,400 $730,525 $907,900
    PRINEVILLE, OR CROOK 2023 $472,030 $604,400 $730,525 $907,900
    BROOKINGS, OR CURRY 2023 $472,030 $604,400 $730,525 $907,900
    BEND, OR DESCHUTES 2023 $690,000 $883,300 $1,067,750 $1,326,950
    ROSEBURG, OR DOUGLAS 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO GILLIAM 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO GRANT 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO HARNEY 2023 $472,030 $604,400 $730,525 $907,900
    HOOD RIVER, OR HOOD RIVER 2023 $671,600 $859,750 $1,039,250 $1,291,550
    MEDFORD, OR JACKSON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO JEFFERSON 2023 $472,030 $604,400 $730,525 $907,900
    GRANTS PASS, OR JOSEPHINE 2023 $472,030 $604,400 $730,525 $907,900
    KLAMATH FALLS, OR KLAMATH 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO LAKE 2023 $472,030 $604,400 $730,525 $907,900
    EUGENE-SPRINGFIELD, OR LANE 2023 $481,850 $616,850 $745,650 $926,650
    NEWPORT, OR LINCOLN 2023 $472,030 $604,400 $730,525 $907,900
    ALBANY-LEBANON, OR LINN 2023 $472,030 $604,400 $730,525 $907,900
    ONTARIO, OR-ID MALHEUR 2023 $472,030 $604,400 $730,525 $907,900
    SALEM, OR MARION 2023 $483,000 $618,300 $747,400 $928,850
    HERMISTON-PENDLETON, OR MORROW 2023 $472,030 $604,400 $730,525 $907,900
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA MULTNOMAH 2023 $672,750 $861,250 $1,041,050 $1,293,750
    SALEM, OR POLK 2023 $483,000 $618,300 $747,400 $928,850
    NON-METRO SHERMAN 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO TILLAMOOK 2023 $472,030 $604,400 $730,525 $907,900
    HERMISTON-PENDLETON, OR UMATILLA 2023 $472,030 $604,400 $730,525 $907,900
    LA GRANDE, OR UNION 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO WALLOWA 2023 $472,030 $604,400 $730,525 $907,900
    THE DALLES, OR WASCO 2023 $472,030 $604,400 $730,525 $907,900
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA WASHINGTON 2023 $672,750 $861,250 $1,041,050 $1,293,750
    NON-METRO WHEELER 2023 $472,030 $604,400 $730,525 $907,900
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA YAMHILL 2023 $672,750 $861,250 $1,041,050 $1,293,750

    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).