Millennials Bank More on Conventional Mortgages

More millennial homebuyers are obtaining conventional financing over FHA financing, relying less on government-backed loans, according to the latest Ellie Mae Millennial Tracker™. Conventional and FHA—the most common types of mortgage loans for millennials—comprised 63 percent and 32 percent of millennial loans, respectively, in June.
“Conventional and FHA loans make up the vast majority of loan types among millennials, and tend to track in cycles,” said Joe Tyrell,