Profile picture for salcorn

what percentage of buyers use FHA loans?

Any recent data of what percentage of buyers use FHA loans?
  • December 11 2011 - US
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Answers (11)

100% of buyers that do not have or do not want to put more than 3.50% down payment or have poor FICO scores.

Happy funding, Rudi
  • December 12 2011
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And those MI increases are on the table again, hope they don't price themselves out altogether like they have on certain streamlines.
  • December 12 2011
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Profile picture for shapiroamg
I thought the unit volume was around the 30% range. We heard a couple years back that FHA was typically under 10% and that they would prefer to be back in that range. One thing for sure is that the increase volume of closed loans going FHA is the major reason for the cost of FHA MI going up.
  • December 12 2011
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Very nice TUG, If that data doesn't do it nothing will. It's important to know if one is talking about units or dollar volume. :)
  • December 12 2011
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Profile picture for Dunes ..
"The Federal Housing Administration's (FHA's) dollar volume share of the 1- to 4-family mortgage market was 13.7 percent in the second quarter of 2011, down 1.0 percentage point from the first quarter of 2011 and down 7.6 percentage points from the second quarter of 2010. For home purchase loans, FHA's dollar volume share was 28.3 percent in the second quarter of 2011, up 2.8 percentage points from the first quarter of 2011 but down 7.3 percentage points from the second quarter of 2010. For mortgage refinance loans, FHA's dollar volume share was 5.5 percent in the second quarter of 2011, down 3.3 percentage points from the first quarter of 2011 and down 2.7 percentage points from the second quarter of 2010
FHA's share of the 1- to 4-family mortgage market by loan count was 19.4 percent in the second quarter of 2011, up 2.2 percentage points from the first quarter of 2011 but down 4.7 percentage points from the second quarter of 2010. For home purchase loans, FHA's market share by loan count was 38.0 percent in the second quarter of 2011, up 8.2 percentage points from the first quarter of 2011 but down 3.5 percentage points from the second quarter of 2010. For mortgage refinance loans, FHA's market share by loan count was 7.5 percent in the second quarter of 2011, down 2.4 percentage points from the first quarter of 2011 and down 2.0 percentage points from the second quarter of 2010."
(LINK)
Lot of info in the USHMC Reports
and info can be found here
  • December 12 2011
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Here is a link showing FY2011 through June for purchases, this is showing just under 15%

http://portal.hud.gov/hudportal/documents/huddoc?id=fhamkt0611.pdf

  • December 12 2011
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From what I have read it is aprx 19-20% while Fannie/Freddie make up just over 50%
  • December 12 2011
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I would guess it was up near 60% overall. It used to be like 6%.

Found a linky to some authoritative info.
  • December 12 2011
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Profile picture for Sharon Lewis
Thats a difficult question to answer, buyers get loans based on their needs and what fits those needs the best. If you are considering getting a loan, sit down with your lender and see what serves you the best.
  • December 12 2011
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I don't know of any exact figure, you may try Google for that.  But, I know it is a pretty high percentage for buyers that intend to occupy the home.  Investors do not have that financing option.
  • December 12 2011
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What are you trying to figure out?

I can tell you that I am running over 50% FHA...but that is because I target FFHA 203K Loans...The % will vary depending on the source and who the source polled.
  • December 11 2011
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