[:en]What You Really Need To Qualify For A Mortgage[:es]¿Qué necesita realmente usted para calificar para una hipoteca?[:]

What You Really Need To Qualify For A Mortgage | 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 5% or less.

Below are the results of a Digital Risk survey done on Millennials who recently purchased a home.

Down Payments | Simplifying The Market

2. FICO Scores

The Ipsos 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.

Below are the numbers from the latest Ellie Mae report.

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 todavía está un poco confundido en cuanto a que es realmente necesario para calificar para un préstamo hipotecario en el mercado de la vivienda actual. El estudio señala dos conceptos erróneos que queremos abordar hoy.

  1. La cuota inicial

La encuesta reveló que los consumidores sobrestiman los fondos necesarios para la cuota inicial para calificar por un préstamo hipotecario. Según el informe 36 % piensa que siempre se requiere un 20 % de cuota inicial. En realidad, hay muchos préstamos hechos con una cuota inicial de 5 % o menos.

Abajo están los resultados de la encuesta de Digital Risk sobre los ‘millennials’ que recientemente compraron una casa.

Mortgage Down Payments | Simplifying The Market

  1. Puntaje FICO

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

Abajo están los números del informe reciente de Ellie Mae.

FICO Scores | Simplifying The Market

En conclusión

Si usted es un posible comprador que está ‘listo’ y ‘dispuesto’ para comprar, pero no está seguro si también está en ‘capacidad’ sentémonos para discutir sus opciones.

 [:]

[:en]What You Really Need To Qualify For A Mortgage[:es]¿Qué necesita realmente usted para calificar para una hipoteca?[:]

What You Really Need To Qualify For A Mortgage | 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

[:en]What You Really Need To Qualify For A Mortgage[:es]¿Qué necesita realmente usted para calificar para una hipoteca?[:]

What You Really Need To Qualify For A Mortgage | 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 5% or less.

Below are the results of a Digital Risk survey done on Millennials who recently purchased a home.

Down Payments | Simplifying The Market

2. FICO Scores

The Ipsos 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.

Below are the numbers from the latest Ellie Mae report.

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 todavía está un poco confundido en cuanto a que es realmente necesario para calificar para un préstamo hipotecario en el mercado de la vivienda actual. El estudio señala dos conceptos erróneos que queremos abordar hoy.

  1. La cuota inicial

La encuesta reveló que los consumidores sobrestiman los fondos necesarios para la cuota inicial para calificar por un préstamo hipotecario. Según el informe 36 % piensa que siempre se requiere un 20 % de cuota inicial. En realidad, hay muchos préstamos hechos con una cuota inicial de 5 % o menos.

Abajo están los resultados de la encuesta de Digital Risk sobre los ‘millennials’ que recientemente compraron una casa.

Mortgage Down Payments | Simplifying The Market

  1. Puntaje FICO

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

Abajo están los números del informe reciente de Ellie Mae.

FICO Scores | Simplifying The Market

En conclusión

Si usted es un posible comprador que está ‘listo’ y ‘dispuesto’ para comprar, pero no está seguro si también está en ‘capacidad’ sentémonos para discutir sus opciones.

 [:]

[:en]What You Really Need To Qualify For A Mortgage[:es]¿Qué necesita realmente usted para calificar para una hipoteca?[:]

What You Really Need To Qualify For A Mortgage | 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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