[ad_1]
In 2016, 15.5 percent of home purchases were completed using Federal Housing Administration loans, according to ATTOM Data Solutions. For many borrowers, the FHA requires a down payment of just 3.5 percent of the purchase price of a home.
Read more: The Big Down Payment Myth
The following are the eight metros with populations of more than 200,000 that had the largest percentage of purchases using FHA-insured loans in 2016.
1. McAllen-Edinburg-Mission, Texas
2. Ogden-Clearfield, Utah
3. Merced, Calif.
4. Visalia-Porterville, Calif.
5. Salt Lake City, Utah
6. Beaumont-Port Arthur, Texas
7. Indianapolis-Carmel-Anderson, Ind.
8. Amarillo, Texas
Source: “10 Hottest Markets for FHA Mortgages,” National Mortgage News (2017)
[ad_2]
Source link
