Last year, in Texas alone, more home buyers than in Florida received private mortgage insurance. 76,451 buyers, that is, 57% in the “Sunny State” took advantage of a mortgage when buying a home.
According to the Annual Mortgage Funding Report, Florida ranks second after Texas. In Florida, nearly 3 in 5 buyers, or 57%, counted on a mortgage when buying a property. This is private mortgage insurance, whereby buyers do not pay a 20% down payment when purchasing a home. The deposit is only 3%. This way of buying real estate helped over 1 million people buy homes across the country in 2022.
The top five states for mortgage finance, in addition to Texas and Florida, included California, Illinois and Ohio.
According to the report, the average cost to buy a home in Florida was $422,100.
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2023-07-23 14:27:24
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