[:en]Millennials: What FICO Score is Needed to Buy a Home?[:es]Millennials: ¿Que puntuación FICO es necesaria para comprar una casa? [:]

Millennials: What FICO Score is Needed to Buy a Home? | Simplifying The Market
[:en]In a recent article by the Wharton School of Business at the University of Pennsylvania, it was revealed that some Millennials are not looking to purchase a home simply because they don’t believe they can qualify for a mortgage.

The article quoted Jessica Lautz, the National Association of RealtorsManaging Director of Survey Research, as saying that there is a significant population that does not think they will be approved for a mortgage and doesn’t even try. The article also quoted Fannie Mae CEO Tim Mayopoulos :

“I do think that there’s a sense out there in the marketplace among borrowers that credit may not be available, especially for people with lower credit scores.”

So what credit score is necessary?

A recent survey 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 FICO score on closed loans (as reported by Ellie Mae) is much lower and has been dropping over the last several months.

FICO Score Requirements | Simplifying The Market

Bottom Line

If you are one of the many Millennials who are considering a home purchase you may be surprised how much the requirements for a mortgage have eased. Let’s get together to discuss your options![:es]En un artículo reciente por the Wharton School of Business de la Universidad de Pennsylvania, se reveló que algunos millennials no están buscando en comprar una casa simplemente porque ellos no creen que pueden calificar por una hipoteca.

El artículo citó a Jessica Lautz, Directora de investigación de encuestas de La asociación nacional de Realtors, diciendo que hay una población numerosa que no cree que será aprobada por una hipoteca y ni siquiera trata. El artículo también citó al CEO de Fannie Mae, Tim Mayopoulos:

“Creo que hay un sentimiento en el mercado entre los compradores que el crédito tal vez no esté disponible, especialmente para las personas con puntuación de crédito baja”.

Entonces ¿Qué puntuación de crédito es necesaria?

Una encuesta reciente informó que dos tercios de los encuestados creen que ellos necesitan un buen crédito para comprar una casa, con el 45 por ciento pensando que un “buen puntaje de crédito” es más de 780.

En realidad, el puntaje FICO en los préstamos cerrados (como informó Ellie Mae) es mucho más bajo y ha estado disminuyendo durante los últimos meses.

Requisitos del puntaje FICO| Simplifying The Market

En conclusión

Los ‘Millennials’ que están considerando el comprar una casa deben asesorarse ahora con un profesional local en bienes raíces o hipotecario. Ellos pueden ser sorprendidos de cuánto los requisitos para una hipoteca se han facilitado. ¡reunámonos para discutir sus opciones![:]

[:en]Millennials: What FICO Score is Needed to Buy a Home?[:es]Millennials: ¿Que puntuación FICO es necesaria para comprar una casa? [:]

Millennials: What FICO Score is Needed to Buy a Home? | Simplifying The Market

[:en]In a recent article by the Wharton School of Business at the University of Pennsylvania, it was revealed that some Millennials are not looking to purchase a home simply because they don’t believe they can qualify for a mortgage. The article quoted Jessica Lautz, the National Association of Realtors’ Managing Director of Survey Research, as saying ...

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[:en]Millennials: What FICO Score is Needed to Buy a Home?[:es]Millennials: ¿Que puntuación FICO es necesaria para comprar una casa? [:]

Millennials: What FICO Score is Needed to Buy a Home? | Simplifying The Market

[:en]In a recent article by the Wharton School of Business at the University of Pennsylvania, it was revealed that some Millennials are not looking to purchase a home simply because they don’t believe they can qualify for a mortgage.

The article quoted Jessica Lautz, the National Association of RealtorsManaging Director of Survey Research, as saying that there is a significant population that does not think they will be approved for a mortgage and doesn’t even try. The article also quoted Fannie Mae CEO Tim Mayopoulos :

“I do think that there’s a sense out there in the marketplace among borrowers that credit may not be available, especially for people with lower credit scores.”

So what credit score is necessary?

A recent survey 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 FICO score on closed loans (as reported by Ellie Mae) is much lower and has been dropping over the last several months.

FICO Score Requirements | Simplifying The Market

Bottom Line

If you are one of the many Millennials who are considering a home purchase you may be surprised how much the requirements for a mortgage have eased. Let's get together to discuss your options![:es]En un artículo reciente por the Wharton School of Business de la Universidad de Pennsylvania, se reveló que algunos millennials no están buscando en comprar una casa simplemente porque ellos no creen que pueden calificar por una hipoteca.

El artículo citó a Jessica Lautz, Directora de investigación de encuestas de La asociación nacional de Realtors, diciendo que hay una población numerosa que no cree que será aprobada por una hipoteca y ni siquiera trata. El artículo también citó al CEO de Fannie Mae, Tim Mayopoulos:

“Creo que hay un sentimiento en el mercado entre los compradores que el crédito tal vez no esté disponible, especialmente para las personas con puntuación de crédito baja”.

Entonces ¿Qué puntuación de crédito es necesaria?

Una encuesta reciente informó que dos tercios de los encuestados creen que ellos necesitan un buen crédito para comprar una casa, con el 45 por ciento pensando que un “buen puntaje de crédito” es más de 780.

En realidad, el puntaje FICO en los préstamos cerrados (como informó Ellie Mae) es mucho más bajo y ha estado disminuyendo durante los últimos meses.

Requisitos del puntaje FICO| Simplifying The Market

En conclusión

Los ‘Millennials’ que están considerando el comprar una casa deben asesorarse ahora con un profesional local en bienes raíces o hipotecario. Ellos pueden ser sorprendidos de cuánto los requisitos para una hipoteca se han facilitado. ¡reunámonos para discutir sus opciones![:]

[:en]Millennials: What FICO Score is Needed to Buy a Home?[:es]Millennials: ¿Que puntuación FICO es necesaria para comprar una casa? [:]

Millennials: What FICO Score is Needed to Buy a Home? | Simplifying The Market

[:en]In a recent article by the Wharton School of Business at the University of Pennsylvania, it was revealed that some Millennials are not looking to purchase a home simply because they don’t believe they can qualify for a mortgage. The article quoted Jessica Lautz, the National Association of Realtors’ Managing Director of Survey Research, as saying ...

Continue Reading
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