Posts Tagged ‘low FICO score’

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 […]

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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