[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f18lwkv2ervr2x":3,"$ffeh0925h8cuz":39,"$fbwk2pqjjqsc7":43},{"item":4,"previous":27,"next":33},{"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":25,"updatedAt":26},436,"millennials-what-fico-score-is-needed-to-buy-a-home","Millennials: What FICO Score is Needed to Buy a Home?","In a recent article by the \u003Cem>Wharton School of Business\u003C\u002Fem> at the \u003Cem>University of Pennsylvania\u003C\u002Fem>, it was revealed that some Millennials are not looking to purchase a home simply because they don’t believe they can qualify for a mortgage.","","blog","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2015\u002F11\u002F01161945\u002FMillennials-Credit2.jpg","In a recent article by the \u003Cem>Wharton School of Business\u003C\u002Fem> at the \u003Cem>University of Pennsylvania\u003C\u002Fem>, it was revealed that some Millennials are not looking to purchase a home simply because they don’t believe they can qualify for a mortgage.\u003C!--more-->\r\n\r\nThe article quoted Jessica Lautz, the \u003Cem>National Association of Realtors\u003C\u002Fem>’ \u003Cem>Managing Director of Survey Research\u003C\u002Fem>, as saying that there is a significant population that does not think they will be approved for a mortgage \u003Cstrong>and doesn’t even try\u003C\u002Fstrong>. The article also quoted \u003Cem>Fannie Mae\u003C\u002Fem> \u003Cem>CEO\u003C\u002Fem> Tim Mayopoulos :\r\n\u003Cblockquote>\u003Cem>“I do think that there’s a sense out there in the marketplace among borrowers that credit may not be available, especially for people with lower credit scores.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch3>\u003Cstrong>So what credit score is necessary?\u003C\u002Fstrong>\u003C\u002Fh3>\r\nA recent survey 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.\r\n\r\nIn actuality, the FICO score on closed loans (as reported by \u003Cem>Ellie Mae\u003C\u002Fem>) is much lower and has been dropping over the last several months.\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2015\u002F11\u002FFICO-score.jpg\">\u003Cimg class=\"alignnone wp-image-32263\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2015\u002F11\u002FFICO-score.jpg\" alt=\"FICO Score Requirements | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nIf you are one of the many Millennials who are considering a home purchase you may be surprised how much the requirements for a mortgage have eased. Let's get together to discuss your options!","\r\nIf you are one of the many Millennials who are considering a home purchase you may be surprised how much the requirements for a mortgage have eased. Let's get together to discuss your options!","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2015\u002F11\u002FFICO-score.jpg",false,[17,21],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},11,"First-Time Buyers","first-time-buyers","2015-11-24T10:00:29Z","2015-11-24T13:53:52Z",{"id":28,"slug":29,"title":30,"featuredImage":31,"publishedAt":32,"contentType":10,"isVideo":15},435,"equity-matters-a-lot-just-ask-freddie-mac","Equity Matters A LOT... Just Ask Freddie Mac","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2015\u002F11\u002F01161948\u002FFamily-Wealth.jpg","2015-11-23T10:00:09Z",{"id":34,"slug":35,"title":36,"featuredImage":37,"publishedAt":38,"contentType":10,"isVideo":15},437,"distressed-property-sales-hit-new-low","Distressed Property Sales Hit New Low","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2015\u002F11\u002F01161941\u002FDistressed-Sales-Hit-New-Low.jpg","2015-11-25T10:00:52Z",{"cover":40,"open":41,"shareSpread":42},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[44,48,49,53,57,61,65,66,70,74,78,82,86,90,94,98,102,106,110,114,118,122,126,130,134,138,142,146,150,154],{"id":45,"name":46,"slug":47},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":50,"name":51,"slug":52},6,"For Sellers","sellers",{"id":54,"name":55,"slug":56},7,"Foreclosures","foreclosures",{"id":58,"name":59,"slug":60},8,"Infographics","infographics",{"id":62,"name":63,"slug":64},9,"Home Prices","home-prices",{"id":22,"name":23,"slug":24},{"id":67,"name":68,"slug":69},34,"Senior Market","senior-market",{"id":71,"name":72,"slug":73},35,"Mortgage Rates","mortgage-rates",{"id":75,"name":76,"slug":77},38,"Move-Up","move-up",{"id":79,"name":80,"slug":81},41,"For Sale by Owner","for-sale-by-owner",{"id":83,"name":84,"slug":85},42,"Featured","featured",{"id":87,"name":88,"slug":89},45,"New Construction","new-construction",{"id":91,"name":92,"slug":93},52,"Luxury \u002F Vacation","luxury--vacation",{"id":95,"name":96,"slug":97},53,"Rent vs. Buy","rent-vs-buy",{"id":99,"name":100,"slug":101},80,"Time-sensitive","time-sensitive",{"id":103,"name":104,"slug":105},81,"Outdated","outdated",{"id":107,"name":108,"slug":109},147,"Internal","internal",{"id":111,"name":112,"slug":113},148,"Do Not Autopost","do-not-autopost",{"id":115,"name":116,"slug":117},320,"Inventory","inventory",{"id":119,"name":120,"slug":121},321,"Agent Value","agent-value",{"id":123,"name":124,"slug":125},322,"Affordability","affordability",{"id":127,"name":128,"slug":129},323,"Buying Tips","buying-tips",{"id":131,"name":132,"slug":133},324,"Downsize","downsize",{"id":135,"name":136,"slug":137},325,"Economy","economy",{"id":139,"name":140,"slug":141},326,"Equity","equity",{"id":143,"name":144,"slug":145},327,"Forecasts","forecasts",{"id":147,"name":148,"slug":149},328,"Selling Tips","selling-tips",{"id":151,"name":152,"slug":153},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":155,"name":156,"slug":157},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]