Cynthia Larsen - Sonoma County Real Estate Broker

head_left_image

The rise and fall of FHA loans

The rise and fall of FHA loans

Quite often I get asked if seller's are accepting offers with FHA or VA financing. I never discourage a buyer who is qualified to buy a home regardless of the type of financing they have chosen (or has chosen them), but it piqued my curiosity as to how home purchases were financed this past year. The results surprised me, as the number of FHA loans were much lower in 2013 than in previous years.

 

Online Graphing

 

FHA loans became a popular choice in Sonoma County shortly after the market began to tank in February of 2007. After several months of sudden market paralysis, FHA became the new subprime loan and they took off like wildfire. Here's how the numbers shake out.

 

 

Online Graphing

 

It will be interesting to note how many new FHA loans originate in 2014, but I see a trend in my area. With FHA loans becoming less and less desirable with higher up front mortgage insurance premiums and lifetime PMI's, I'm going to call this trend ... The rise and fall of FHA loans.

 

 

 

Cynthia Larsen
Broker/Owner - Safe Haven Realty

Sonoma County, California, USA
(707) 332-2560

www.cynthialarsen.com


10 commentsCynthia Larsen • February 04 2014 03:02PM
The rise and fall of FHA loans
share
The rise and fall of FHA loans Quite often I get asked if seller's are accepting offers with FHA or VA financing. I never discourage a buyer who is qualified to buy a home regardless of the type of financing they have chosen (or has chosen them),… more
Home Buyers: Ask if the Seller's loan is FHA
share
Home Buyers: Ask if the Seller's loan is FHA After the demise of stated income loans and 100% financing in 2007, FHA loans became very popular here in Sonoma County I did a quick calculation of homes sold over the past 6 years, and found that… more
A Casino is coming to Town - Rohnert Park, CA
share
I'm one of those folks who don't care for change but change is what's coming to Sonoma County in the form of the largest casino in California. Oh my. Many are fearful of what follows in a casino's footsteps.. pawn shops are at the top of… more
Plastic GI's vs. Plastic AK-47's = Clogged Toilet vs. Death
share
When I was a kid playing Army meant playing with green plastic GI's. Back then, we had to use our imagination as to what "war" looked and felt like. We would line up our green men, advance them towards the opposing line and attempt to make… more
BEWARE: Holiday season is ripe with Identity Theft
share
I received a phone call from my credit card company this morning Someone used my card in an ATM machine and withdrew $500 bucks.. in Orlando, Florida. I was asked if that person could possibly have been me. Uh, no. I've never even been… more
What is the best day of the month for a buyer to close escrow?
share
What is the best day of the month for a buyer to close escrow? Does it even matter what day of the month an escrow closes? It does if the buyer requires a loan to buy their new home. You see, buying a house requires the buyer to bring money to the… more
Home Sweet Home, Northern California!
share
Home Sweet Home, Northern California! The ActiveRain blogging community has been challenged to showcase the state or province they live in.. a challenge that I am certainly up for because I absolutely love where I live. For starters,… more
Should I Have A Big Wedding or Buy a House?
share
Just think how different our behavior might be if Disney movies were less about Princesses finding Prince Charming, and more about Prince Charming securing shelter to protect and raise his family. I know, I know.. boring as heck and box office… more
TOO SLOW and TOO LOW
share
TOO SLOW and TOO LOW Those are the words I used with a potential buyer today. We've been TOO SLOW and TOO LOW After writing on 6 properties and losing out on every one of them because of PRICE (low), we are hoping today that we won't lose out… more
An ActiveRain Audience I Hadn't Anticipated: Historians
share
Twice in the last week I have been contacted through ActiveRain by Genealogists and Historians who have read my posts. Just by blogging about local oddities or historical structures, I've caught the eye of Internet researchers who are… more