mortgage requirements: Getting A Mortgage? This is a Must Read!
- 01/22/16 12:15 AM
Fannie Mae recently released their “What do consumers know about the Mortgage Qualification Criteria?” Study. The study revealed that Americans are misinformed about what is required to qualify for a mortgage when purchasing a home. Here are three takeaways:
§ 59% of Americans either don’t know (54%) or are misinformed (5%) about what FICO score is necessary
§ 86% of Americans either don’t know (59%) or are misinformed (25%) about what an appropriate Back End Debt-to-Income (DTI) ratios is
§ 76% of Americans either don’t know (40%) or are misinformed (36%) about the minimum down payment required
To help correct these misunderstandings, let’s take a look at the … (0 comments)
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