[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f20a1fzzc6zvkb":3,"$fbwk2pqjjqsc7":31},{"item":4,"previous":19,"next":25},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":17,"updatedAt":18},378,"what-do-you-really-need-to-qualify-for-a-mortgage","What Do You Really Need to Qualify for a Mortgage?","A recent survey by \u003Cem>Ipsos\u003C\u002Fem> 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.","","blog","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2015\u002F09\u002F01162151\u002FWhat-You-Need.jpg","A recent survey by \u003Cem>Ipsos\u003C\u002Fem> 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.\u003C!--more-->\r\n\u003Ch3>\u003Cstrong>1. Down Payment\u003C\u002Fstrong>\u003C\u002Fh3>\r\nThe 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 3% or less.\r\n\r\nHere are the results from a Digital Risk survey done on Millennials:\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2015\u002F08\u002FMillennials2.jpg\">\u003Cimg class=\"alignnone wp-image-31755\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2015\u002F08\u002FMillennials2.jpg\" alt=\"Millennials & Down Payments | Keeping Current Matters\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\u003Ch3>\u003Cstrong>2. FICO Scores\u003C\u002Fstrong>\u003C\u002Fh3>\r\nThe \u003Cem>Ipsos\u003C\u002Fem> 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.\r\n\r\nHere are the numbers from a recent Ellie Mae report:\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2015\u002F08\u002FFICO-Score.jpg\">\u003Cimg class=\"alignnone wp-image-31756\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2015\u002F08\u002FFICO-Score.jpg\" alt=\"FICO Score | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nIf you are a prospective purchaser who is ‘ready’ and ‘willing’ to buy but not sure if you are also ‘able’, let's get together to discuss your true options.\r\n\r\n ","\r\nIf you are a prospective purchaser who is ‘ready’ and ‘willing’ to buy but not sure if you are also ‘able’, let's get together to discuss your true options.\r\n\r\n ","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2015\u002F08\u002FMillennials2.jpg",false,[],"2015-09-03T10:00:37Z","2015-12-04T16:34:58Z",{"id":20,"slug":21,"title":22,"featuredImage":23,"publishedAt":24,"contentType":10,"isVideo":15},377,"home-prices-rising-appraisers-say-whoa","Home Prices Rising! Appraisers say WHOA!","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2015\u002F08\u002F01162154\u002FWhoa.jpg","2015-09-02T10:00:16Z",{"id":26,"slug":27,"title":28,"featuredImage":29,"publishedAt":30,"contentType":10,"isVideo":15},379,"a-reasons-to-hire-a-real-estate-professional-infographic","A+ Reasons to Hire A Real Estate Professional [INFOGRAPHIC]","https:\u002F\u002F\u002F","2015-09-04T10:00:51Z",[32,36,40,44,48,52,56,60,64,68,72,76,80,84,88,92,96,100,104,108,112,116,120,124,128,132,136,140,144,148],{"id":33,"name":34,"slug":35},1,"Uncategorized","uncategorized",{"id":37,"name":38,"slug":39},5,"For Buyers","buyers",{"id":41,"name":42,"slug":43},6,"For Sellers","sellers",{"id":45,"name":46,"slug":47},7,"Foreclosures","foreclosures",{"id":49,"name":50,"slug":51},8,"Infographics","infographics",{"id":53,"name":54,"slug":55},9,"Home Prices","home-prices",{"id":57,"name":58,"slug":59},11,"First-Time Buyers","first-time-buyers",{"id":61,"name":62,"slug":63},34,"Senior Market","senior-market",{"id":65,"name":66,"slug":67},35,"Mortgage Rates","mortgage-rates",{"id":69,"name":70,"slug":71},38,"Move-Up","move-up",{"id":73,"name":74,"slug":75},41,"For Sale by Owner","for-sale-by-owner",{"id":77,"name":78,"slug":79},42,"Featured","featured",{"id":81,"name":82,"slug":83},45,"New Construction","new-construction",{"id":85,"name":86,"slug":87},52,"Luxury \u002F Vacation","luxury--vacation",{"id":89,"name":90,"slug":91},53,"Rent vs. Buy","rent-vs-buy",{"id":93,"name":94,"slug":95},80,"Time-sensitive","time-sensitive",{"id":97,"name":98,"slug":99},81,"Outdated","outdated",{"id":101,"name":102,"slug":103},147,"Internal","internal",{"id":105,"name":106,"slug":107},148,"Do Not Autopost","do-not-autopost",{"id":109,"name":110,"slug":111},320,"Inventory","inventory",{"id":113,"name":114,"slug":115},321,"Agent Value","agent-value",{"id":117,"name":118,"slug":119},322,"Affordability","affordability",{"id":121,"name":122,"slug":123},323,"Buying Tips","buying-tips",{"id":125,"name":126,"slug":127},324,"Downsize","downsize",{"id":129,"name":130,"slug":131},325,"Economy","economy",{"id":133,"name":134,"slug":135},326,"Equity","equity",{"id":137,"name":138,"slug":139},327,"Forecasts","forecasts",{"id":141,"name":142,"slug":143},328,"Selling Tips","selling-tips",{"id":145,"name":146,"slug":147},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":149,"name":150,"slug":151},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]