Feb 24

Where FHA Loans Are the Most Popular

Where FHA Loans Are the Most Popular

Where FHA Loans Are the Most Popular

Where FHA Loans Are the Most Popular

 

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.

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

  • FHA sales: 35%

2. Ogden-Clearfield, Utah

  • FHA sales: 34.2%

3. Merced, Calif.

  • FHA sales: 32.6%

4. Visalia-Porterville, Calif.

  • FHA sales: 31.9%

5. Salt Lake City, Utah

  • FHA sales: 29.6%

6. Beaumont-Port Arthur, Texas

  • FHA sales: 29.2%

7. Indianapolis-Carmel-Anderson, Ind.

  • FHA sales: 27.9%

8. Amarillo, Texas

  • FHA sales: 27.9%

Source: “10 Hottest Markets for FHA Mortgages,” National Mortgage News (2017)

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