More people turning to FHA loans amid rising mortgage rates

  • 📰 WGAL
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 59%

Loans Loans Headlines News

FHA loans are now making up a larger portion of mortgage originations than they were two years ago.

PHNjcmlwdCB0eXBlPSJ0ZXh0L2phdmFzY3JpcHQiIHNyYz1odHRwczovL3N0YXRpYy5teWZpbmFuY2UuY29tL3dpZGdldC9teUZpbmFuY2Vfdmlld3BvcnRfZGV0ZWN0aW9uLmpzPjwvc2NyaXB0PjxzY3JpcHQgYXN5bmMgdHlwZT0idGV4dC9qYXZhc2NyaXB0Ij5teWZpV2F0Y2hXaWRnZXQoJ215ZmlXaWRnZXRfMTUnKTtteWZpV2F0Y2hXaWRnZXQoJ215ZmlXaWRnZXRfOCcpO215ZmlXYXRjaFdpZGdldCgnbXlmaVdpZGdldF85Jyk7PC9zY3JpcHQ+Aly J. Yale is a contributing writer for Hearst, focusing largely on housing, real estate, and mortgages.

On a $400,000 home purchase, that’d mean a down payment of only $14,000.“One of the standout advantages of FHA loans in today's housing market is the modest down payment requirement,” says Joseph Camberato, CEO of New York-based lender National Business Capital. “This is really appealing to prospective homebuyers who browsed real estate listings and thought: ‘How on earth can I afford this?' With home prices reaching new heights, having a smaller down payment option is a plus.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 331. in LOANS

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China central bank ramps up liquidity support via policy loans, rate unchangedChina's central bank ramped up liquidity support to the banking system as it rolled over medium-term policy loans on Monday, but kept the interest rate unchanged as expected.
Source: Reuters - 🏆 2. / 97 Read more »

African ambassador criticizes IMF, World Bank for not giving enough loansAn ambassador of an African country to China has criticized the International Monetary Fund and the World Bank for restrictive lending policies.
Source: NBCLA - 🏆 319. / 59 Read more »

African ambassador criticizes IMF, World Bank for not giving enough loansAn ambassador of an African country to China has criticized the International Monetary Fund and the World Bank for restrictive lending policies.
Source: CNBC - 🏆 12. / 72 Read more »

I Paid $100k Student Loans and My Son's Tuition Using a Simple MethodThere were three ways I stayed positive throughout our debt journey.
Source: Newsweek - 🏆 468. / 52 Read more »

Kenya seeks more Chinese loans at 'Belt and Road' forum despite rising public debtKenya’s President William Ruto is seeking $1 billion more in loans from China, despite rising public debt that has now reached $68 billion. He's in Beijing for the summit of the Belt and Road Initiative, China's ambitious plan to connect Africa, Asia and Europe through massive infrastructure and energy projects.
Source: AP - 🏆 728. / 51 Read more »