April

Key findings from the FHA’s annual report

As home prices rise, more buyers are looking to family for help with down payments.1  The Federal Housing Administration’s (FHA) annual report found2:

  • More than 26% of borrowers who used FHA programs had assistance from a relative to fund down payments (up from 22% in 2011).
  • The homeownership rate among those 35 and younger has fallen eight points to 35%. The reasons?  Higher home prices, interest rates, and student loan debt.
  • The number of FHA borrowers receiving down payment assistance from family, the government or another entity jumped from 30% to 39%.

As always, it is a pleasure staying in touch.

1Don Reisinger‚ “More homebuyers are turning to their parents for mortgage assistance‚” Fortune, last updated January 4‚ 2019.

2“2018 FHA Annual Report‚” HUD.gov.