I have read a lot about the problems with subprime mortgages recently. Many financial analysts say that subprime mortgages are still a relatively small amount of all mortgages while others say the problem is spreading into prime mortgages as well. I am just curious what percentage of people get a mortgage (all kinds of mortgages both prime and subprime) when they buy a home and what percentage are able to put all cash down (and therefore avoid having to get a mortgage all together).
I have sold homes for 29 years. I would imagine that about 8%-10% of the buyers I deal with on normal size homes don’t get a mortgage- they pay cash.
What percentage of people buying a home in America get a mortgage?
Leave a comment
I doubt that many Americans can afford to pay 100% cash for their homes…most take out mortgage loans…I’d say nearly 100%, but there are exceptions.
References :
I have sold homes for 29 years. I would imagine that about 8%-10% of the buyers I deal with on normal size homes don’t get a mortgage- they pay cash.
References :