Since the refinance boom of 2003 and 2004, the numbers of conventional refinance mortgages has steadily declined in Harris County, Texas. The number of conventional purchase mortgages have remained static while more recently, FHA/VA mortgages have started to increase. Why have these government issued mortgages become more popular? According to the FHA it is now easier to qualify, it costs less, they have low down payments, and you can have less than perfect credit. The decline in conventional mortgages suggests that these types of mortgages are more difficult to obtain. In Harris County will FHA and VA mortgages dominate in market share?
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