Last year, only in Texas more property buyers than in Florida used private mortgage insurance. 76,451 buyers, that is, 57% in the "sunny state" used a mortgage when buying a house.
According to the annual mortgage finance report, Florida ranked second after Texas. In Florida, almost 3 out of 5 buyers, that is, 57%, relied on a mortgage when buying real estate. We are talking about private mortgage insurance, according to which buyers do not make a 20% prepayment when buying a home. The initial payment is only 3%. This method of buying real estate has helped more than 1 million people buy homes across the country in 2022.
TOP-5 states for mortgage financing, in addition to Texas and Florida, included California, Illinois and Ohio.
According to the report, the average cost of buying a house in Florida was $422,100.