Low Down Payments Typical Among FHA Loans
Created on May 11, 2015
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In 1990, the year Congress passed the National Affordable Housing Act, the share of FHA-insured single-family mortgage loans with down payments of 5 percent or less was 34 percent. By 2000 that figure rose to 85 percent. It dipped during the recession, then rose again, and is currently at 75 percent.
Source: U.S. Department of Housing and Urban Development, Actuarial Review of the Federal Housing Administration Mutual Mortgage Insurance Fund Forward Loans for Fiscal Year 2014, pp. 41–42, November 17, 2014, http://portal.hud.gov/hudportal/documents/huddoc?id=AR2014MMIFwdRpt.pdf (accessed April 15, 2015).
CHART 1 • BG 3006
Tags: FHA, Federal-Housing-Administration, housing-finance