Statistics in Anne Arundel County MD are in and one of the interesting pieces of data to look at is where people are getting their money to purchase homes.
As you can see, 175 buyers used FHA financing to purchase their home. FHA financing is very attractive right now because of the lower down payment requirements. If you qualify, you can get an FHA loan by putting down 3.5% of the purchase price of a home.
In Anne Arundel County MD, the number of conventional loans were just under those funded by FHA.
VA loans are still popular because you can get a VA loan without putting any money down. Considering the amount of military installations in the county, VA loans will continue to remain popular.
I don't know about you, but I was surprised to see that 41 homeowners were able to purchase their house with cash. I'm impressed, considering the Average Price of a home in Anne Arundel County MD was $360,557.
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Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
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Rich Iarossi is a full time licensed REALTOR®, working in Crofton, MD. My coverage areas are: Anne Arundel, Prince George’s, Howard, Calvert, Queen Anne, and Baltimore City and County. I specialize in residential real estate, working with both buyers and sellers. Use the registration free search on my website at www.RichSellsHomes.com. If you’re not already working with a REALTOR®...I can help. Call me at 443-995-9595 (Cell) or 410-451-6255 (Office).
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That's interesting. I quickly looked at a smaller area that I am working on getting stats right now and the numbers are very similar for FHA, Conv. and cash. Except of VA, only have 1 of those. ~Rita
Can you believe how FHA has grown into such a player now?
Begin each day as if it were on purpose,
Paul
I would suspect that FHA is the major slice in my market here as well...
Have a great day!
Richard, I am always surprised when I look at the stats and the cash buyers are out there! FHA has certainly made a come back over the past few years. Happy selling! ~jen
Hi Rich,
Just want to say hi and tell you that you look very handsome in your new pic. I'm around, in the background...but still keeping an eye on things.
Gail
Richard, this is interesting. I think we tend to forget about assumptions unless interest rates are through the roof.
Richard, this is indeed interesting, I am going to check the stats for my area.