Puerto Rico FHA Loan Rates, Closing Costs & Stats

Puerto Rico

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits

    • 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.

    Puerto Rico FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Puerto Rico averaged 6.49% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Puerto Rico's average FHA mortgage closing costs are $7,940.

    The average rate for the prior week (2024-04-12) was 6.28% and one month ago for the week of 2024-03-15, the average rate was 6.44%.

    The average rate one year ago was 5.87%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.33%.

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

    Puerto Rico 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 Puerto Rico level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    THE MONEY HOUSE INC. 824 6.57% $8,344
    FIRSTBANK PUERTO RICO 448 5.40% $10,562
    Banco Popular de Puerto Rico 448 5.23% $13,067
    Oriental Bank 413 5.72% $8,420
    FIRST EQUITY MORTGAGE BANKERS, INC. 380 6.44% $9,180
    METRO ISLAND MORTGAGE, INC. 339 6.49% $10,128
    PREFERRED MORTGAGE CORPORATION 327 6.43% $9,166
    SUN WEST MORTGAGE COMPANY, INC. 315 6.53% $9,317
    TRUST MORTGAGE, CORP 240 6.25% $9,745
    HOME MORTGAGE BANKERS CORP. 220 6.80% $10,815
    VIG MORTGAGE CORPORATION 186 6.81% $9,348
    HR MORTGAGE CORP. 172 6.48% $8,726
    E.M.I. EQUITY MORTGAGE, INC. 162 6.48% $7,962
    Rf Mortgage & Investment Corp 128 6.68% $11,641
    RM ACTUAL MORTGAGE, INC. 125 6.68% $8,174
    COOPERATIVA DE AHORRO Y CREDITO LA PUERTORRIQUEÑA 98 6.90% $10,204
    Senior Mortgage Bankers Inc 65 6.59% $10,635
    Capital Mortgage Services Corp. 44 7.34% $9,694
    MULTIPLES MORTGAGE CORPORATION 44 6.92% $9,734
    CROSSCOUNTRY MORTGAGE, LLC 32 6.54% $17,125
    EVERETT FINANCIAL, INC. 13 6.88% $12,599
    COOPERATIVA DE AHORRO Y CREDITO VEGA ALTA 13 6.73% $7,303
    Equity Prime Mortgage LLC 10 6.78% $14,349
    Cooperativa A/C Oriental 10 6.48% $8,255
    CALCON MUTUAL MORTGAGE LLC 6 6.52% $12,816
    The Lending Center Corporation 3 6.00% $14,869
    PLANET HOME LENDING, LLC 2 7.31% $11,369
    CARIBE FEDERAL CREDIT UNION 1 7.75% $5,878
    COOPERATIVA DE AHORRO Y CREDITO DE MANATI INC. 1 6.50% $6,743

    The top Puerto Rico FHA lender as defined by loan originations is THE MONEY HOUSE INC., with 824 FHA loans originated. Their average total fees are $8,344, which is $2,218 lower than the next largest lender, FIRSTBANK PUERTO RICO.

    The lowest fee Puerto Rico FHA lenders (with over 10 loans originated) are COOPERATIVA DE AHORRO Y CREDITO VEGA ALTA ($7,303), E.M.I. EQUITY MORTGAGE, INC. ($7,962), RM ACTUAL MORTGAGE, INC. ($8,174), Cooperativa A/C Oriental ($8,255) and THE MONEY HOUSE INC. ($8,344).

    The lowest rate Puerto Rico FHA lenders (with over 10 loans originated) are Banco Popular de Puerto Rico (5.23%), FIRSTBANK PUERTO RICO (5.40%), Oriental Bank (5.72%), TRUST MORTGAGE, CORP (6.25%) and PREFERRED MORTGAGE CORPORATION (6.43%).

    Puerto Rico FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    PONCE, PR ADJUNTAS 2022 $420,680 $538,650 $651,050 $809,150
    AGUADILLA-ISABELA, PR AGUADA 2022 $420,680 $538,650 $651,050 $809,150
    AGUADILLA-ISABELA, PR AGUADILLA 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR AGUAS BUENAS 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR AIBONITO 2022 $420,680 $538,650 $651,050 $809,150
    AGUADILLA-ISABELA, PR ANASCO 2022 $420,680 $538,650 $651,050 $809,150
    ARECIBO, PR ARECIBO 2022 $420,680 $538,650 $651,050 $809,150
    GUAYAMA, PR ARROYO 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR BARCELONETA 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR BARRANQUITAS 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR BAYAMON 2022 $420,680 $538,650 $651,050 $809,150
    SAN GERMAN, PR CABO ROJO 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR CAGUAS 2022 $420,680 $538,650 $651,050 $809,150
    ARECIBO, PR CAMUY 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR CANOVANAS 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR CAROLINA 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR CATANO 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR CAYEY 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR CEIBA 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR CIALES 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR CIDRA 2022 $420,680 $538,650 $651,050 $809,150
    COAMO, PR COAMO 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR COMERIO 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR COROZAL 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO CULEBRA 2022 $532,450 $681,650 $823,950 $1,023,950
    SAN JUAN-BAYAMON-CAGUAS, PR DORADO 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR FAJARDO 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR FLORIDA 2022 $420,680 $538,650 $651,050 $809,150
    YAUCO, PR GUANICA 2022 $420,680 $538,650 $651,050 $809,150
    GUAYAMA, PR GUAYAMA 2022 $420,680 $538,650 $651,050 $809,150
    YAUCO, PR GUAYANILLA 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR GUAYNABO 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR GURABO 2022 $420,680 $538,650 $651,050 $809,150
    ARECIBO, PR HATILLO 2022 $420,680 $538,650 $651,050 $809,150
    MAYAGUEZ, PR HORMIGUEROS 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR HUMACAO 2022 $420,680 $538,650 $651,050 $809,150
    AGUADILLA-ISABELA, PR ISABELA 2022 $420,680 $538,650 $651,050 $809,150
    JAYUYA, PR JAYUYA 2022 $420,680 $538,650 $651,050 $809,150
    PONCE, PR JUANA DIAZ 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR JUNCOS 2022 $420,680 $538,650 $651,050 $809,150
    SAN GERMAN, PR LAJAS 2022 $420,680 $538,650 $651,050 $809,150
    AGUADILLA-ISABELA, PR LARES 2022 $420,680 $538,650 $651,050 $809,150
    MAYAGUEZ, PR LAS MARIAS 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR LAS PIEDRAS 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR LOIZA 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR LUQUILLO 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR MANATI 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO MARICAO 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR MAUNABO 2022 $420,680 $538,650 $651,050 $809,150
    MAYAGUEZ, PR MAYAGUEZ 2022 $420,680 $538,650 $651,050 $809,150
    AGUADILLA-ISABELA, PR MOCA 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR MOROVIS 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR NAGUABO 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR NARANJITO 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR OROCOVIS 2022 $420,680 $538,650 $651,050 $809,150
    GUAYAMA, PR PATILLAS 2022 $420,680 $538,650 $651,050 $809,150
    YAUCO, PR PENUELAS 2022 $420,680 $538,650 $651,050 $809,150
    PONCE, PR PONCE 2022 $420,680 $538,650 $651,050 $809,150
    ARECIBO, PR QUEBRADILLAS 2022 $420,680 $538,650 $651,050 $809,150
    AGUADILLA-ISABELA, PR RINCON 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR RIO GRANDE 2022 $420,680 $538,650 $651,050 $809,150
    SAN GERMAN, PR SABANA GRANDE 2022 $420,680 $538,650 $651,050 $809,150
    COCO, PR SALINAS 2022 $420,680 $538,650 $651,050 $809,150
    SAN GERMAN, PR SAN GERMAN 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR SAN JUAN 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR SAN LORENZO 2022 $420,680 $538,650 $651,050 $809,150
    AGUADILLA-ISABELA, PR SAN SEBASTIAN 2022 $420,680 $538,650 $651,050 $809,150
    SANTA ISABEL, PR SANTA ISABEL 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR TOA ALTA 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR TOA BAJA 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR TRUJILLO ALTO 2022 $420,680 $538,650 $651,050 $809,150
    AGUADILLA-ISABELA, PR UTUADO 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR VEGA ALTA 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR VEGA BAJA 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO VIEQUES 2022 $420,680 $538,650 $651,050 $809,150
    PONCE, PR VILLALBA 2022 $420,680 $538,650 $651,050 $809,150
    SAN JUAN-BAYAMON-CAGUAS, PR YABUCOA 2022 $420,680 $538,650 $651,050 $809,150
    YAUCO, PR YAUCO 2022 $420,680 $538,650 $651,050 $809,150
    PONCE, PR ADJUNTAS 2023 $472,030 $604,400 $730,525 $907,900
    AGUADILLA-ISABELA, PR AGUADA 2023 $472,030 $604,400 $730,525 $907,900
    AGUADILLA-ISABELA, PR AGUADILLA 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR AGUAS BUENAS 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR AIBONITO 2023 $472,030 $604,400 $730,525 $907,900
    AGUADILLA-ISABELA, PR ANASCO 2023 $472,030 $604,400 $730,525 $907,900
    ARECIBO, PR ARECIBO 2023 $472,030 $604,400 $730,525 $907,900
    GUAYAMA, PR ARROYO 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR BARCELONETA 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR BARRANQUITAS 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR BAYAMON 2023 $472,030 $604,400 $730,525 $907,900
    SAN GERMAN, PR CABO ROJO 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR CAGUAS 2023 $472,030 $604,400 $730,525 $907,900
    ARECIBO, PR CAMUY 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR CANOVANAS 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR CAROLINA 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR CATANO 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR CAYEY 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR CEIBA 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR CIALES 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR CIDRA 2023 $472,030 $604,400 $730,525 $907,900
    COAMO, PR COAMO 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR COMERIO 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR COROZAL 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO CULEBRA 2023 $532,450 $681,650 $823,950 $1,023,950
    SAN JUAN-BAYAMON-CAGUAS, PR DORADO 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR FAJARDO 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR FLORIDA 2023 $472,030 $604,400 $730,525 $907,900
    YAUCO, PR GUANICA 2023 $472,030 $604,400 $730,525 $907,900
    GUAYAMA, PR GUAYAMA 2023 $472,030 $604,400 $730,525 $907,900
    YAUCO, PR GUAYANILLA 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR GUAYNABO 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR GURABO 2023 $472,030 $604,400 $730,525 $907,900
    ARECIBO, PR HATILLO 2023 $472,030 $604,400 $730,525 $907,900
    MAYAGUEZ, PR HORMIGUEROS 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR HUMACAO 2023 $472,030 $604,400 $730,525 $907,900
    AGUADILLA-ISABELA, PR ISABELA 2023 $472,030 $604,400 $730,525 $907,900
    JAYUYA, PR JAYUYA 2023 $472,030 $604,400 $730,525 $907,900
    PONCE, PR JUANA DIAZ 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR JUNCOS 2023 $472,030 $604,400 $730,525 $907,900
    SAN GERMAN, PR LAJAS 2023 $472,030 $604,400 $730,525 $907,900
    AGUADILLA-ISABELA, PR LARES 2023 $472,030 $604,400 $730,525 $907,900
    MAYAGUEZ, PR LAS MARIAS 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR LAS PIEDRAS 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR LOIZA 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR LUQUILLO 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR MANATI 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO MARICAO 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR MAUNABO 2023 $472,030 $604,400 $730,525 $907,900
    MAYAGUEZ, PR MAYAGUEZ 2023 $472,030 $604,400 $730,525 $907,900
    AGUADILLA-ISABELA, PR MOCA 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR MOROVIS 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR NAGUABO 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR NARANJITO 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR OROCOVIS 2023 $472,030 $604,400 $730,525 $907,900
    GUAYAMA, PR PATILLAS 2023 $472,030 $604,400 $730,525 $907,900
    YAUCO, PR PENUELAS 2023 $472,030 $604,400 $730,525 $907,900
    PONCE, PR PONCE 2023 $472,030 $604,400 $730,525 $907,900
    ARECIBO, PR QUEBRADILLAS 2023 $472,030 $604,400 $730,525 $907,900
    AGUADILLA-ISABELA, PR RINCON 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR RIO GRANDE 2023 $472,030 $604,400 $730,525 $907,900
    SAN GERMAN, PR SABANA GRANDE 2023 $472,030 $604,400 $730,525 $907,900
    COCO, PR SALINAS 2023 $472,030 $604,400 $730,525 $907,900
    SAN GERMAN, PR SAN GERMAN 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR SAN JUAN 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR SAN LORENZO 2023 $472,030 $604,400 $730,525 $907,900
    AGUADILLA-ISABELA, PR SAN SEBASTIAN 2023 $472,030 $604,400 $730,525 $907,900
    SANTA ISABEL, PR SANTA ISABEL 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR TOA ALTA 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR TOA BAJA 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR TRUJILLO ALTO 2023 $472,030 $604,400 $730,525 $907,900
    AGUADILLA-ISABELA, PR UTUADO 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR VEGA ALTA 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR VEGA BAJA 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO VIEQUES 2023 $472,030 $604,400 $730,525 $907,900
    PONCE, PR VILLALBA 2023 $472,030 $604,400 $730,525 $907,900
    SAN JUAN-BAYAMON-CAGUAS, PR YABUCOA 2023 $472,030 $604,400 $730,525 $907,900
    YAUCO, PR YAUCO 2023 $472,030 $604,400 $730,525 $907,900

    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).