Charlotte FHA Loan Rates, Closing Costs & Stats

CHARLOTTE-CONCORD-GASTONIA, NC-SC

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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.

    Charlotte's 256 lenders originated 9,421 FHA loans during 2024. The total origination value was $2,927,065,000, with an average FHA loan value of $310,696.

    Charlotte FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Charlotte averaged 6.81% for the week of 2025-07-18, compared to the national average (all FHA variants) of 6.527% for the same period.

    Charlotte's average FHA mortgage closing costs are $8,767.

    The average rate for the prior week (2025-07-11) was 6.61% and one month ago for the week of 2025-06-13, the average rate was 6.67%.

    The average rate one year ago was 6.73%.

    For refis of the same type during the week of 2025-07-18, the average rate was 6.63%.

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

    Charlotte 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 Charlotte level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 856 6.21% $12,779
    UNITED WHOLESALE MORTGAGE, LLC 792 6.09% $13,321
    MOVEMENT MORTGAGE, LLC 651 6.38% $12,719
    LOANDEPOT.COM, LLC 503 5.86% $11,964
    NVR Mortgage Finance, Inc. 371 6.06% $11,572
    DHI MORTGAGE COMPANY, LTD. 348 5.16% $6,791
    FREEDOM MORTGAGE CORPORATION 270 6.39% $12,787
    CROSSCOUNTRY MORTGAGE, LLC 218 6.45% $13,593
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 211 6.73% $11,833
    EAGLE HOME MORTGAGE, LLC 204 5.84% $10,270
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 177 6.52% $12,573
    PENNYMAC LOAN SERVICES, LLC 172 5.92% $12,671
    American Security Mortgage Corp. 155 6.31% $11,135
    BROKER SOLUTIONS, INC. 147 6.63% $13,772
    MATTAMY HOME FUNDING, LLC 143 5.55% $9,360
    First Federal Bank 118 6.17% $8,436
    SeaTrust Mortgage Company 108 6.23% $13,073
    GUILD MORTGAGE COMPANY 103 6.51% $13,330
    CARDINAL FINANCIAL 86 6.52% $13,121
    Alcova Mortgage LLC 76 6.62% $10,483
    ZILLOW HOME LOANS, LLC 76 6.34% $11,363
    NEWREZ LLC 76 6.10% $12,753
    Mr. Cooper ( Nationstar Mortgage ) 74 6.49% $13,571
    INSPIRE HOME LOANS INC. 70 5.39% $11,308
    Equity Prime Mortgage LLC 65 7.03% $13,113
    MUTUAL OF OMAHA MORTGAGE, INC. 64 6.45% $14,660
    AMERICAN FINANCIAL NETWORK, INC. 58 6.90% $14,141
    Carrington Mortgage Services, LLC 57 6.26% $12,865
    UNION HOME MORTGAGE CORP. 52 6.42% $12,629
    M/I FINANCIAL, LLC 47 5.60% $18,684
    Flagstar Bank, FSB 44 6.16% $11,294
    AMERISAVE MORTGAGE CORPORATION 43 6.18% $17,309
    LAKEVIEW LOAN SERVICING, LLC 42 6.12% $8,767
    South State Bank 42 6.18% $10,925
    RELIANCE FIRST CAPITAL, LLC 42 6.49% $12,735
    Towne Bank 38 6.08% $13,453
    KBHS HOME LOANS, LLC 35 5.83% $13,721
    U.S. Bank 35 6.31% $11,704
    CMG MORTGAGE, INC. 35 6.51% $12,251
    VILLAGE CAPITAL MORTGAGE 34 6.32% $9,745
    PLAZA HOME MORTGAGE, INC. 33 6.87% $13,585
    HOMESIDE FINANCIAL, LLC 33 6.54% $14,660
    FIRST COMMUNITY MORTGAGE, INC. 33 6.66% $12,867
    Truist 32 6.28% $10,972
    PULTE MORTGAGE LLC 32 5.96% $9,281
    T2 FINANCIAL LLC 31 6.69% $13,630
    MID AMERICA MORTGAGE, INC. 31 6.69% $12,783
    Lakeview Community Capital, LLC 31 6.28% $9,386
    First-Citizens Bank & Trust Company 29 5.37% $10,307
    South Pacific Financial Corporation 29 5.93% $10,290
    PRIMARY RESIDENTIAL MORTGAGE, INC. 29 6.66% $12,056
    GUARANTEED RATE, INC. 29 6.44% $11,550
    AMERICAN FINANCIAL RESOURCES, INC. 29 6.22% $14,804
    FBC MORTGAGE, LLC 27 5.74% $15,636
    Ixonia Bank 27 6.60% $11,924
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 27 6.51% $10,423
    LOANPAL, LLC 27 5.65% $13,235
    SUN WEST MORTGAGE COMPANY, INC. 26 5.89% $18,068
    Ameris Bank 26 6.09% $11,804
    Atlantic Coast Mortgage, LLC 26 6.77% $12,535
    TOP FLITE FINANCIAL, INC. 25 6.71% $15,324
    MILEND, INC. 25 6.48% $15,224
    LEGEND LENDING CORPORATION 23 6.68% $16,091
    First Heritage Mortgage, LLC 23 5.38% $13,839
    Uwharrie Bank 22 6.34% $11,747
    HOWARD HANNA FINANCIAL SERVICES, INC. 22 6.61% $10,535
    ENVOY MORTGAGE, LTD 22 6.66% $13,288
    Paramount Residential Mortgage Group, Inc. 22 6.54% $12,060
    PLANET HOME LENDING, LLC 22 6.38% $7,901
    Century Mortgage Company DBA Century Lending Company 22 6.41% $12,184
    Northpointe Bank 22 6.24% $11,684
    CORNERSTONE HOME LENDING, INC. 21 6.39% $14,150
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 21 6.03% $15,731
    Wells Fargo Bank 20 6.26% $13,141
    Integrity Home Mortgage Corp 19 6.51% $11,011
    Mortgage Research Center, LLC 19 6.54% $8,026
    The Loan Store, Inc. 19 6.35% $13,152
    TJC Mortgage, Inc. 19 6.69% $14,085
    ON Q FINANCIAL, INC. 18 6.67% $10,589
    AmeriHome Mortgage Company, LLC 18 6.44% $8,025
    RAPID MORTGAGE COMPANY 17 6.78% $13,061
    Plains Commerce Bank 17 6.12% $13,053
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 17 6.32% $13,621
    GUARANTEED RATE AFFINITY, LLC 17 6.57% $10,745
    PREMIER LENDING, INC. 16 6.52% $16,703
    HOMEBRIDGE FINANCIAL SERVICES, INC. 16 6.57% $6,046
    SUMMIT FUNDING, INC. 16 6.12% $13,002
    Prosperity Home Mortgage, LLC 15 6.13% $15,749
    Gateway First Bank 15 6.59% $10,322
    Bank of America 14 6.28% $11,727
    AMERICAN FINANCING CORPORATION 14 6.01% $13,590
    PRIMELENDING, A PLAINSCAPITAL COMPANY 13 6.58% $12,401
    BAY EQUITY LLC 13 6.19% $14,657
    First National Bank of Pennsylvania 13 6.08% $11,146
    Regions Bank 12 6.13% $11,303
    OPEN MORTGAGE, LLC 12 6.98% $11,335
    American Mortgage & Equity Consultants, Inc. 12 6.51% $16,234
    EMM LOANS LLC 11 5.87% $15,889
    Nations Lending Corporation 11 6.48% $16,475
    NFM, INC. 11 6.52% $14,433
    CALCON MUTUAL MORTGAGE LLC 11 6.56% $14,504
    TOWNE MORTGAGE COMPANY 11 6.74% $12,139
    Renasant Bank 10 6.38% $11,429
    CANOPY MORTGAGE, LLC 10 6.33% $14,087
    OCMBC, INC. 10 7.01% $13,346
    NBKC BANK 9 6.22% $9,578
    Fifth Third Bank 9 6.50% $7,296
    CITY FIRST MORTGAGE SERVICES, L.L.C. 9 6.71% $14,680
    C & F Mortgage Corporation 9 6.61% $8,426
    NETWORK CAPITAL FUNDING CORPORATION 9 6.31% $16,219
    GoPrime Mortgage, Inc. 8 6.77% $12,465
    VERITAS FUNDING, LLC 8 6.52% $15,162
    Pinnacle Bank 8 6.16% $11,415
    PHH Mortgage Corporation 8 6.34% $13,254
    CASTLE & COOKE MORTGAGE, LLC 7 6.66% $15,809
    VANDERBILT MORTGAGE AND FINANCE, INC. 7 6.27% $12,212
    INTERCOASTAL MORTGAGE COMPANY 7 6.16% $9,432
    United Community Bank 7 6.73% $11,279
    FIRST ALLIANCE HOME MORTGAGE, LLC 7 5.57% $22,452
    MORTGAGE SOLUTIONS OF COLORADO, LLC 7 6.75% $17,422
    ALLIED MORTGAGE GROUP, INC. 7 6.25% $11,957
    JET HOMELOANS, LLC 7 6.41% $14,199
    INTERLINC MORTGAGE SERVICES, LLC 6 6.42% $9,440
    TOTAL MORTGAGE SERVICES, LLC 6 6.71% $15,502
    FIRST HOME MORTGAGE CORPORATION 6 6.75% $11,638
    Franklin Loan Corporation 6 5.98% $15,312
    M&T Bank 6 6.15% $11,158
    NATIONS DIRECT MORTGAGE, LLC 6 6.71% $14,314
    Truliant Federal Credit Union 6 5.94% $9,553
    The Federal Savings Bank 5 6.65% $14,199
    AMERICAN PACIFIC MORTGAGE CORPORATION 5 6.70% $12,370
    Loan Simple, Inc. 5 6.78% $13,308
    NATIONWIDE MORTGAGE BANKERS, INC. 5 7.15% $13,343
    CHURCHILL MORTGAGE CORPORATION 5 6.50% $13,995
    Blue Ridge Bank 5 6.70% $9,223
    GSF Mortgage Corporation 5 6.90% $7,977
    Bank of England 5 6.55% $12,013
    NATION ONE MORTGAGE CORPORATION 5 6.60% $17,522
    CAPITAL CENTER, L.L.C. 5 6.30% $7,272
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 4 5.78% $17,030
    EVERETT FINANCIAL, INC. 4 6.69% $16,507
    BETTER MORTGAGE CORPORATION 4 5.47% $13,650
    Texana Bank 4 6.13% $20,043
    UNITED MORTGAGE CORP 4 6.63% $14,222
    1ST SIGNATURE LENDING, LLC 4 6.66% $14,462
    Waterstone Mortgage Corporation 4 6.59% $14,484
    PENTAGON FEDERAL CREDIT UNION 4 6.22% $10,587
    JMAC LENDING, INC. 4 6.47% $12,067
    RESOURCE FINANCIAL SERVICES, INC. 4 6.59% $9,011
    City Lending Inc. 3 6.42% $11,164
    MORTGAGE EQUITY PARTNERS LLC 3 6.63% $12,277
    Keystone Funding, Inc. 3 6.00% $20,054
    MICHIGAN MUTUAL, INC. 3 6.50% $15,444
    First Community Bank 3 6.42% $11,103
    DELMAR FINANCIAL COMPANY 3 6.33% $12,719
    JPMorgan Chase Bank 3 7.08% $6,587
    LIBERTY HOME MORTGAGE CORPORATION 3 7.00% $11,187
    SOUTHERN TRUST MORTGAGE, LLC 3 6.79% $8,704
    SOUTHPOINT FINANCIAL SERVICES, INC. 3 6.50% $12,814
    Paramount Bank 3 6.71% $11,321
    EQUITY RESOURCES, INC. 3 6.83% $9,085
    GENEVA FINANCIAL, LLC 3 7.29% $13,052
    HOMEOWNERS FINANCIAL GROUP USA, LLC 2 6.19% $15,378
    CONTOUR MORTGAGE CORPORATION 2 6.25% $21,722
    Commerce Home Mortgage, Inc. 2 6.38% $14,448
    RESIDENTIAL BANCORP 2 6.49% $13,840
    Southern First Bank 2 7.00% $9,918
    LOANLEADERS OF AMERICA, INC. 2 5.88% $15,742
    GARDNER FINANCIAL SERVICES, LTD. 2 6.19% $15,047
    TBI MORTGAGE COMPANY 2 5.50% $15,069
    PREMIA MORTGAGE, LLC 2 5.38% $6,629
    SENTE MORTGAGE, INC. 2 6.63% $13,346
    Magnolia Bank 2 6.38% $9,929
    Citizens Bank 2 6.56% $12,676
    LADERA LENDING, INC. 2 7.13% $9,897
    SECURITYNATIONAL MORTGAGE COMPANY 2 7.00% $12,580
    S1L, Inc. 2 6.63% $6,134
    ROYAL UNITED MORTGAGE LLC 2 7.00% $11,582
    EMBRACE HOME LOANS, INC. 2 6.19% $13,546
    NEW FED MORTGAGE, CORP. 2 6.50% $13,458
    AXIA FINANCIAL, LLC 2 7.00% $15,124
    LAND HOME FINANCIAL SERVICES, INC. 2 7.25% $17,929
    The Central Trust Bank 2 6.81% $9,148
    POLARIS HOME FUNDING CORP. 2 6.94% $15,353
    Summit Mortgage Corporation 2 6.75% $10,322
    BM Real Estate Services, Inc. 2 7.00% $8,546
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.75% $11,756
    Encompass Lending Group, LP 2 7.18% $14,759
    Strong Home Mortgage, LLC 2 5.38% $10,350
    STOCKTON MORTGAGE CORPORATION 2 7.25% $10,666
    DIRECT MORTGAGE LOANS, LLC 2 6.69% $12,999
    OCEANSIDE MORTGAGE COMPANY 2 6.25% $6,921
    1st National Bank 2 6.24% $13,613
    Republic Bank & Trust Company 2 6.50% $7,237
    ACOPIA, LLC 2 7.19% $17,899
    Cornerstone First Mortgage, Inc 2 6.25% $14,798
    RUOFF MORTGAGE COMPANY, INC. 1 6.13% $13,252
    JAMS-01, INC. 1 6.25% $13,360
    Florida Capital Bank 1 5.50% $11,641
    LEADERONE FINANCIAL CORPORATION 1 6.75% $9,023
    First Reliance Bank 1 5.88% $8,785
    Legends Bank 1 6.25% $9,181
    LENOX FINANCIAL MORTGAGE CORPORATION 1 5.63% $10,794
    First Palmetto Bank 1 6.99% $7,942
    First Horizon Bank 1 6.13% $10,318
    Midwest Mortgage Associates Corporation 1 7.25% $3,943
    FIRST COLONY MORTGAGE CORPORATION 1 6.75% $12,609
    First Bank 1 6.63% $9,513
    MLB RESIDENTIAL LENDING, LLC 1 6.25% $24,068
    MORTGAGE INVESTORS GROUP, INC. 1 6.00% $14,348
    MYCUMORTGAGE, LLC 1 6.75% $11,957
    NEW DAY FINANCIAL, LLC 1 7.50% $4,855
    NexBank 1 6.13% $10,944
    NEXERA HOLDING LLC 1 6.63% $10,071
    East Coast Capital Corp. 1 5.50% $20,793
    NJ LENDERS CORP. 1 6.25% $11,433
    Core Bank 1 6.63% $10,649
    PANORAMA MORTGAGE GROUP, LLC 1 6.25% $9,326
    CLIFFCO, INC. 1 6.75% $13,808
    CityWorth Mortgage LLC 1 7.13% $16,613
    PNC Bank 1 5.88% $9,596
    Presidential Bank, FSB 1 6.25% $11,788
    CIBM Bank 1 7.88% $12,669
    Quontic Bank 1 6.25% $17,652
    RADIUS FINANCIAL GROUP INC. 1 6.25% $8,697
    Capital Bank 1 6.25% $13,990
    Residential Mortgage Solutions, Inc. 1 6.50% $9,537
    Home Mortgage Alliance Corp 1 7.88% $7,540
    Semper Home Loans, Inc. 1 6.25% $11,888
    ServisFirst Bank 1 6.75% $9,638
    SFMC, LP 1 6.25% $20,787
    Shea Mortgage Inc. 1 6.75% $10,607
    Shore United Bank 1 7.25% $10,334
    Sierra Pacific Mortgage Company, Inc. 1 6.13% $10,071
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 5.75% $17,850
    Bethpage Federal Credit Union 1 6.63% $4,703
    SOUTHWEST FUNDING, LP 1 6.75% $10,923
    SOUTHWEST STAGE FUNDING, LLC 1 6.38% $14,239
    SOVEREIGN LENDING GROUP INCORPORATED 1 5.50% $19,380
    SUCCESS MORTGAGE PARTNERS, INC. 1 5.63% $20,235
    Bell Bank 1 6.63% $10,192
    Sunflower Bank 1 6.49% $9,378
    BELEM SERVICING LLC 1 6.63% $16,053
    BECKAM FUNDING CORP. 1 7.13% $10,977
    The Fidelity Bank 1 7.13% $14,739
    BAYSHORE MORTGAGE FUNDING, LLC 1 7.13% $11,493
    Barrington Bank & Trust Company, N.A. 1 6.75% $6,044
    Bank of Colorado 1 4.88% $16,914
    Assurance Financial Group, L.L.C. 1 6.63% $13,986
    Arvest Bank 1 5.88% $10,541
    United Bank 1 6.00% $8,924
    VAN DYK MORTGAGE CORPORATION 1 6.13% $10,552
    Victorian Finance, LLC 1 6.99% $9,879
    Advisors Mortgage Group, L.L.C. 1 5.75% $11,585
    V.I.P. MORTGAGE, INC. 1 5.75% $19,639
    Wolfe Financial, Inc 1 6.25% $19,417

    The top Charlotte FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 856 FHA loans originated. Their average total fees are $12,779, which is $542 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Charlotte FHA lenders (with over 10 loans originated) are HOMEBRIDGE FINANCIAL SERVICES, INC. ($6,046), DHI MORTGAGE COMPANY, LTD. ($6,791), PLANET HOME LENDING, LLC ($7,901), AmeriHome Mortgage Company, LLC ($8,025) and Mortgage Research Center, LLC ($8,026).

    The lowest rate Charlotte FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.16%), First-Citizens Bank & Trust Company (5.37%), First Heritage Mortgage, LLC (5.38%), INSPIRE HOME LOANS INC. (5.39%) and MATTAMY HOME FUNDING, LLC (5.55%).

    Charlotte FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    CHARLOTTE-CONCORD-GASTONIA, NC-SC ANSON 2022 $420,680 $538,650 $651,050 $809,150
    CHARLOTTE-CONCORD-GASTONIA, NC-SC CABARRUS 2022 $420,680 $538,650 $651,050 $809,150
    CHARLOTTE-CONCORD-GASTONIA, NC-SC GASTON 2022 $420,680 $538,650 $651,050 $809,150
    CHARLOTTE-CONCORD-GASTONIA, NC-SC IREDELL 2022 $420,680 $538,650 $651,050 $809,150
    CHARLOTTE-CONCORD-GASTONIA, NC-SC LINCOLN 2022 $420,680 $538,650 $651,050 $809,150
    CHARLOTTE-CONCORD-GASTONIA, NC-SC MECKLENBURG 2022 $420,680 $538,650 $651,050 $809,150
    CHARLOTTE-CONCORD-GASTONIA, NC-SC ROWAN 2022 $420,680 $538,650 $651,050 $809,150
    CHARLOTTE-CONCORD-GASTONIA, NC-SC UNION 2022 $420,680 $538,650 $651,050 $809,150
    CHARLOTTE-CONCORD-GASTONIA, NC-SC CHESTER 2022 $420,680 $538,650 $651,050 $809,150
    CHARLOTTE-CONCORD-GASTONIA, NC-SC LANCASTER 2022 $420,680 $538,650 $651,050 $809,150
    CHARLOTTE-CONCORD-GASTONIA, NC-SC YORK 2022 $420,680 $538,650 $651,050 $809,150
    CHARLOTTE-CONCORD-GASTONIA, NC-SC ANSON 2023 $472,030 $604,400 $730,525 $907,900
    CHARLOTTE-CONCORD-GASTONIA, NC-SC CABARRUS 2023 $472,030 $604,400 $730,525 $907,900
    CHARLOTTE-CONCORD-GASTONIA, NC-SC GASTON 2023 $472,030 $604,400 $730,525 $907,900
    CHARLOTTE-CONCORD-GASTONIA, NC-SC IREDELL 2023 $472,030 $604,400 $730,525 $907,900
    CHARLOTTE-CONCORD-GASTONIA, NC-SC LINCOLN 2023 $472,030 $604,400 $730,525 $907,900
    CHARLOTTE-CONCORD-GASTONIA, NC-SC MECKLENBURG 2023 $472,030 $604,400 $730,525 $907,900
    CHARLOTTE-CONCORD-GASTONIA, NC-SC ROWAN 2023 $472,030 $604,400 $730,525 $907,900
    CHARLOTTE-CONCORD-GASTONIA, NC-SC UNION 2023 $472,030 $604,400 $730,525 $907,900
    CHARLOTTE-CONCORD-GASTONIA, NC-SC CHESTER 2023 $472,030 $604,400 $730,525 $907,900
    CHARLOTTE-CONCORD-GASTONIA, NC-SC LANCASTER 2023 $472,030 $604,400 $730,525 $907,900
    CHARLOTTE-CONCORD-GASTONIA, NC-SC YORK 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).