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Friday, January 04, 2019

First-Time Home Buyers Increasingly Turn to Parents for Mortgage Help | Fortune

First-Time Home Buyers Increasingly Turn to Parents for Mortgage Help | Fortune: The number of home buyers turning to their parents for help in affording their houses is on the rise.

In its annual report, the Federal Housing Administration (FHA) revealed that more than 26% of people who received an FHA-insured mortgage in the 12-month period ended in September had family assistance. That was roughly the same as the prior year, but up from 22% in 2011, according to the data. The Wall Street Journal earlier reported on the jump.