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Did You Know?


DID YOU KNOW? The majority of consumers think it's much harder to qualify for a home loan than it actually is, according to a recent Fannie Mae survey of more than 3,000 people. Respondents thought they needed much higher credit scores and bigger down payments than necessary. They also didn’t know much about the minimum debt levels lenders require. 14% thought their FICO score needed to be higher than 680, and 32% thought it needed to be higher than 620. The minimum FICO score is actually 550. Both current homeowners and renters were equally uninformed. (CNBC)



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