Pursuits
Renters Buying Again as U.S. Starter-Home Financing Gets Cheaper
- New and returning owners are using less-expensive FHA loans
- Homeownership rate pushed up as first-time buyers come back
This article is for subscribers only.
Erin Maude returned to homeownership in December, three years after losing her condo in the U.S. foreclosure crisis. This time, she’s confident she’ll keep the house she bought with the help of a 14 percent raise and a Federal Housing Administration loan, which required little money down.
“I’m very lucky,” said Maude, 38, an airline marketing manager. “Without FHA, I don’t know how long it would have been before I could have saved for a bigger down payment.”