[:en]One More Time…You DO NOT Need 20% Down[:es]Una vez más… usted NO necesita 20 % de cuota inicial[:]

One More Time You Don't Need 20% Down | Simplifying The Market
[:en]A recent 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 qualify for a home loan. According to the report, 36% think a 20% down payment is always required. In actuality, there are many loans written with a down payment of 3% or less and the number has increased through the first quarter of the year as shown by the graph below:

Percent of Low Down Payments | Simplifying The Market

2. FICO Scores

The survey also reported that two-thirds of the respondents believe they need a very good credit score to buy a home, with 45 percent thinking a “good credit score” is over 780. In actuality, the average FICO scores of approved conventional and FHA mortgages are much lower:

Average FICO Scores | Simplifying The Market

Bottom Line

If you are a prospective purchaser who is ‘ready’ and ‘willing’ to buy but not sure if you are also ‘able’, let’s get together and discuss your options.[:es]Una encuesta reciente por Ipsos encontró que el público estadounidense está todavía un poco confundido en cuanto a que realmente es necesario para calificar por un préstamo hipotecario en el mercado de la vivienda actual. El estudio señaló dos grandes errores que queremos abordar hoy.

1. Cuota inicial

La encuesta reveló que los consumidores subestiman los fondos de la cuota inicial necesarios para calificar para un préstamo hipotecario. Según el informe, 36 % piensan que una cuota inicial del 20 % siempre es requerida. En realidad, hay muchos préstamos escritos con una cuota inicial del 3 % o menos y el número ha aumentado a través del primer trimestre del año como lo muestra la gráfica siguiente:

porcentaje de prestamos KCM

2. El puntaje FICO

La encuesta también reportó que dos tercios de los encuestados creen que ellos necesitan un muy buen puntaje de crédito para comprar una casa, con 45 por ciento pensando que un “buen puntaje de crédito” es de más de 780. En la actualidad, el promedio del puntaje FICO de las hipotecas convencionales y FHA aprobadas es mucho más bajo:

Promedio del puntaje

En conclusión

Si usted es un posible comprador que está ‘listo’ y ‘dispuesto’ a comprar pero no está seguro si también tiene la ‘capacidad’ de hacerlo, vamos a reunirnos y discutir sus opciones.[:]

[:en]One More Time…You DO NOT Need 20% Down[:es]Una vez más… usted NO necesita 20 % de cuota inicial[:]

One More Time You Don't Need 20% Down | Simplifying The Market

[:en]A recent 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 ...

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[:en]One More Time…You DO NOT Need 20% Down[:es]Una vez más… usted NO necesita 20 % de cuota inicial[:]

One More Time You Don't Need 20% Down | Simplifying The Market

[:en]A recent 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 qualify for a home loan. According to the report, 36% think a 20% down payment is always required. In actuality, there are many loans written with a down payment of 3% or less and the number has increased through the first quarter of the year as shown by the graph below:

Percent of Low Down Payments | Simplifying The Market

2. FICO Scores

The survey also reported that two-thirds of the respondents believe they need a very good credit score to buy a home, with 45 percent thinking a “good credit score” is over 780. In actuality, the average FICO scores of approved conventional and FHA mortgages are much lower:

Average FICO Scores | Simplifying The Market

Bottom Line

If you are a prospective purchaser who is ‘ready’ and ‘willing’ to buy but not sure if you are also ‘able’, let's get together and discuss your options.[:es]Una encuesta reciente por Ipsos encontró que el público estadounidense está todavía un poco confundido en cuanto a que realmente es necesario para calificar por un préstamo hipotecario en el mercado de la vivienda actual. El estudio señaló dos grandes errores que queremos abordar hoy.

1. Cuota inicial

La encuesta reveló que los consumidores subestiman los fondos de la cuota inicial necesarios para calificar para un préstamo hipotecario. Según el informe, 36 % piensan que una cuota inicial del 20 % siempre es requerida. En realidad, hay muchos préstamos escritos con una cuota inicial del 3 % o menos y el número ha aumentado a través del primer trimestre del año como lo muestra la gráfica siguiente:

porcentaje de prestamos KCM

2. El puntaje FICO

La encuesta también reportó que dos tercios de los encuestados creen que ellos necesitan un muy buen puntaje de crédito para comprar una casa, con 45 por ciento pensando que un “buen puntaje de crédito” es de más de 780. En la actualidad, el promedio del puntaje FICO de las hipotecas convencionales y FHA aprobadas es mucho más bajo:

Promedio del puntaje

En conclusión

Si usted es un posible comprador que está ‘listo’ y ‘dispuesto’ a comprar pero no está seguro si también tiene la ‘capacidad’ de hacerlo, vamos a reunirnos y discutir sus opciones.[:]

[:en]One More Time…You DO NOT Need 20% Down[:es]Una vez más… usted NO necesita 20 % de cuota inicial[:]

One More Time You Don't Need 20% Down | Simplifying The Market

[:en]A recent 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 ...

Continue Reading
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