FHA & VA Loans Gaining Popularity In Baltimore

According to a report by Baltimore sun, 75 percent of homes sold in the Baltimore metro area went to buyers with conventional mortgages,i.e. loans not insured by government agencies. Further, it says that  35% of the Baltimore-area buyers got conventional loans last month, 40% of Baltimore-area buyers went FHA in July, according to MRIS.  The news report says that, the number of FHA-financed purchases jumped ninefold from four years ago, even though total home sales fell by almost half.

VA loans are not behind in this situation, and are popular too. Although not all buyers went for mortgages, and some of them had 100% down payment from other sources, but out of the mortgage bases home purchasing FHA and VA loans have got lead.

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