BuyingaHomeFall2018
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2. FICO® Scores<br />
Similar to the misconceptions surrounding down payment requirements, many either don’t<br />
know or are misinformed about what FICO® score is necessary to qualify for a home loan.<br />
Many Americans believe<br />
that a ‘good’ credit score<br />
is 780 or higher.<br />
To help debunk this myth,<br />
let’s take a look at Ellie<br />
Mae’s latest Origination<br />
Insight Report which<br />
focuses on recently<br />
closed (approved) loans.<br />
UP DA<br />
TE<br />
As you can see on the<br />
right, 51.5% of approved<br />
mortgages had a credit<br />
score of 600-749.<br />
Bottom Line<br />
If you are a prospective buyer who is ‘ready’ and ‘willing’ to act now, but you are not sure if<br />
you are ‘able’ to, let's meet so I can help you understand your true options today.<br />
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