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59% of New Home Sales Use Government Loans: John Burns

post from Housing Wire on 19 October 2009 11:56:57 AM. © Housing Wire

Federally backed mortgages account for 59% of new home sales transactions with 96.5% to 100% loan-to-value (LTV) so far in 2009, according to the latest John Burns Real Estate Consulting homebuilder survey.The availability of Federal Housing Administration (FHA), Veterans Administration (VA) and US Department of Agriculture (USDA) residential mortgage financing programs has been critical to [...]

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