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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Hi Richard:
;)
;)
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