Non-Conventional Financing Continues its Presence in New Home Market

Posted To: MND NewsWire

A large contingent of new homes started in 2015 were purchased using non-conventional financing according to a new analysis by the National Association of Home Builders (NAHB). The association's Assistant Vice President for Housing Policy Research, Natalia Siniavskaia writes that more than a third (34.4 percent) of newly constructed homes started last year did not use conventional financing . This includes purchases using all cash, FHA, VA, and Rural Housing Service (USDA) loans. Siniavskaia used the U.S Census Bureau Survey of Construction (SOC) data and found that the use of non-conventional financing varied widely across census divisions, from a low of 16 percent of new home purchases in the East South Central division (Alabama, Mississippi, Tennessee, and Kentucky) to 40 percent in both...(read more)

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