Posts Tagged ‘FICO Score’

What Credit Score Do You Need To Buy A House

Wednesday, April 3rd, 2019

There are many misconceptions about the credit score needed to buy a house. Recently, it was reported that 24% of renters believe they need a 780-800 credit score to be considered for a mortgage. The reality is they are misinformed! Only 25% of the Americans have a FICO® Score between 740 and 800. Here is […]

You DO NOT Need 20% Down to Buy Your Home NOW

Thursday, July 5th, 2018

The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that the main reason why non-homeowners do not own their own homes is because they believe that […]

2 Major Myths Holding Back Home Buyers

Monday, February 5th, 2018

Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership,” which revealed that “eighty percent of consumers either are unaware of how much lenders require for a down payment or believe all lenders require a down payment above 5 percent.” Myth #1: “I Need a 20% Down Payment” Home buyers often overestimate the down payment […]

Thinking About Buying? Know Your Credit Score

Friday, November 3rd, 2017

Knowing your credit score or getting a recent copy of your credit report is one of the first steps that you can take toward knowing how ready you are to start the home buying process. Make sure all the information listed on your report is accurate and work to correct any mistakes. The higher your […]

Don’t Disqualify Yourself 52% of Approved Loans Have A FICO® Score Under 750

Monday, August 28th, 2017

The results of countless studies have shown that potential home buyers, and even current homeowners, have an inflated view of what is really required to qualify for a mortgage in today’s market. One such study by the Wharton School of Business at the University of Pennsylvania revealed that many millennials have not yet considered purchasing homes simply because […]

2 Myths Holding Back Home Buyers

Thursday, June 29th, 2017

In Realtor.com’s recent article, “Home Buyers’ Top Mortgage Fears: Which One Scares You?” they mention that “46% of potential home buyers fear they won’t qualify for a mortgage to the point that they don’t even try.” Myth #1: “I Need a 20% Down Payment” Buyers overestimate the down payment funds needed to qualify for a […]

Slaying the Myths about home buying

Tuesday, July 26th, 2016

Facts: You don’t need a perfect FICO score. To qualify for FHA Loan (typically with 3% down) a FICO score of 686 may get you qualified! Mortgage Interest Rates are still at record lows.  The typical 30 year conventional loan rate is around 3.42% The average downpayment for first time home buyers is 6%, while […]



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