The Home Buying Institute recently conducted a survey to measure the popularity and usage of FHA home loans. The first phase of the survey revealed that most home buyers plan to use an FHA home loan to finance their purchase. Of those who responded, 87% said they were planning to use an FHA loan to finance their home purchase.  Of those, 53.8% said they wanted to use an FHA home loan for the smaller down payment, 19.2% said they thought the overall qualification process would be easier, 13.5% said they previously had trouble qualifying for a conventional loan, 7.7% said they had low credit scores and 5.8% felt their income was too low to qualify for a regular loan.

This survey suggests further growth in the FHA’s market share, which has already grown considerably in recent years. In the first quarter of 2010, almost half of all home buyers used an FHA loan to purchase a home.

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