Millennials have taken a slight step back from FHA loans, signifying they may be able to afford more at the moment, according to Ellie Mae.

About 63% of closed loans made to millennial homebuyers in June were conventional, with an average amount of $205,066; about 32% of these closed loans were FHA loans for an average amount of $173,381. These loan types make up the vast majority of loan types among millennials.

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