FHA Reports Strong Financial Position, Served More Than 876,000 Homebuyers in FY 2025
Issue Date: January 05, 2026
The Federal Housing Administration released its fiscal year 2025 annual report to Congress on the Mutual Mortgage Insurance Fund on January 2, reporting solid financial performance while serving as a critical financing source for homebuyers. The MMI Fund achieved a capital ratio of 11.47 percent—more than five times the congressionally mandated 2.0 percent minimum—with total capital standing at $188.9 billion as of September 30, 2025.
FHA insured mortgages for more than 876,000 homebuyers in FY 2025, with first-time homebuyers representing 83 percent of FHA forward purchase endorsements. This share has consistently remained between 75 and 85 percent, reflecting FHA's role as a key financing option for first-time buyers. FHA also insured more than 28,000 Home Equity Conversion Mortgages (reverse mortgages), which allow seniors to access home equity and age in place.
NAR commends FHA and the Department of Housing and Urban Development for maintaining a strong financial footing in FY 2025 while continuing to provide critical access to homeownership.