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