Homebuyers who used a Federal Housing Administration insured loan to purchase a house in Orange County, California, made an average 3.6% down payment, the same as in March 2009 and April 2008, reports The Orange County Register, using information provided by DataQuick. The minimum FHA allows is 3.5%. But the FHA limit has been raised to nearly $730,000 in Orange. As one observer pointed out: "FHA loans are hot and have taken off because brokers and lenders are pushing the program to consumers." Orange was once the home to many subprime shops including Ameriquest, New Century, and the list goes on and onâ¦
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