FBC Report Finds Improvement in the Sunshine State

Lender FBC Mortgage’s 2012 Florida report reflects a strong rebound for the state’s mortgage and housing market during the year.

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Data from financed properties and excluding condominiums show purchase prices averaged $210,000. This represented an increase of nearly $20,000 from 2011.

FBC’s report also shows average loan amounts rose 13.5% year-over-year, averaging $177,000.

Conventional borrowers put down $60,000 on average compared to $8,000 on government loans. Conventional loans represented 60% of closed transactions in 2012, a 12% increase from 2011.

Credit scores continued to climb in 2012, averaging 742 for homebuyers. This is a 10 point increase from 2011, 20 points higher than 2010 and nearly 30 points higher than the 2008 average, according to the company.

Bonnie Sinnock

Capital Markets Editor

Bonnie Sinnock is National Mortgage News' Capital Markets Editor at Arizent and has worked for NMN and affiliated publications since 1995. Her... Read full bio

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