Posts Tagged ‘FICO scores’

FICO® Scores on Approved Home Loans Drop Again

Tuesday, January 16th, 2018

According to Ellie Mae’s latest Origination Report, the average FICO® Score on all closed loans dropped to 722. This is its lowest mark since April. The average includes all approved refinance and purchase loans. FHA and VA loans showed the most opportunity for millennials looking to enter the market with low down payments and even […]

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 […]

One more time, you do not need 20% down payment to buy a house

Thursday, May 12th, 2016

A survey by Ipsos found that the American public is still somewhat confused about what is actually necessary to qualify for a home mortgage loan in today’s housing market. The study pointed out two major misconceptions that we want to address today.  1. Down Payment The survey revealed that consumers overestimate the down payment funds needed to […]



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