[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f3nnuzyi1jm9if":3,"$ffeh0925h8cuz":35,"$fbwk2pqjjqsc7":39},{"item":4,"previous":23,"next":29},{"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":21,"updatedAt":22},446,"what-you-really-need-to-qualify-for-a-mortgage","What You Really Need To Qualify For A Mortgage","A recent survey by \u003Ci>Ipsos\u003C\u002Fi> 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\u002F12\u002F01161924\u002FWhat-You-Need.jpg","A recent survey by \u003Ci>Ipsos\u003C\u002Fi> 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>\u003Cb>1. Down Payment\u003C\u002Fb>\u003C\u002Fh3>\r\nThe survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the report, \u003Cb>36% think a 20% down payment is always required.\u003C\u002Fb> In actuality, there are many loans written with a down payment of 5% or less.\r\n\r\n\u003Ci>Below are the results of a Digital Risk survey done on Millennials who recently purchased a home.\u003C\u002Fi>\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2015\u002F08\u002FMillennials2.jpg\">\u003Cimg class=\"alignnone wp-image-32354\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2015\u002F08\u002FMillennials2.jpg\" alt=\"Down Payments | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\u003Ch3>\u003Cb>2. FICO Scores\u003C\u002Fb>\u003C\u002Fh3>\r\nThe \u003Ci>Ipsos\u003C\u002Fi> 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 \u003Ci>“good credit score” \u003C\u002Fi>is over 780. In actuality, the average FICO scores of approved conventional and FHA mortgages are much lower.\r\n\r\n\u003Ci>Below are the numbers from the latest Ellie Mae report.\u003C\u002Fi>\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2015\u002F12\u002FSlide2-STM.jpg\">\u003Cimg class=\"alignnone wp-image-32355\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2015\u002F12\u002FSlide2-STM.jpg\" alt=\"FICO Scores | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\u003Ch3>\u003Cb>Bottom Line\u003C\u002Fb>\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 and discuss your options.","A recent survey by \u003Ci>Ipsos\u003C\u002Fi> 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>\u003Cb>1. Down Payment\u003C\u002Fb>\u003C\u002Fh3>\r\nThe survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the report, \u003Cb>36% think a 20% down payment is always required.\u003C\u002Fb> In actuality, there are many loans written with a down payment of 5% or less.\r\n\r\n\u003Ci>Below are the results of a Digital Risk survey done on Millennials who recently purchased a home.\u003C\u002Fi>\r\n\r\n\u003Ca href=\"http:\u002F\u002Fwww.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2015\u002F08\u002FMillennials2.jpg\">\u003Cimg class=\"alignnone wp-image-32354\" src=\"http:\u002F\u002Fwww.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2015\u002F08\u002FMillennials2.jpg\" alt=\"Down Payments | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\u003Ch3>\u003Cb>2. FICO Scores\u003C\u002Fb>\u003C\u002Fh3>\r\nThe \u003Ci>Ipsos\u003C\u002Fi> 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 \u003Ci>“good credit score” \u003C\u002Fi>is over 780. In actuality, the average FICO scores of approved conventional and FHA mortgages are much lower.\r\n\r\n\u003Ci>Below are the numbers from the latest Ellie Mae report.\u003C\u002Fi>\r\n\r\n\u003Ca href=\"http:\u002F\u002Fwww.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2015\u002F12\u002FSlide2-STM.jpg\">\u003Cimg class=\"alignnone wp-image-32355\" src=\"http:\u002F\u002Fwww.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2015\u002F12\u002FSlide2-STM.jpg\" alt=\"FICO Scores | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\u003Ch3>\u003Cb>Bottom Line\u003C\u002Fb>\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 and discuss your options.","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2015\u002F08\u002FMillennials2.jpg",false,[17],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers","2015-12-08T10:00:32Z","2015-12-08T16:47:01Z",{"id":24,"slug":25,"title":26,"featuredImage":27,"publishedAt":28,"contentType":10,"isVideo":15},445,"nar-reports-reveal-two-reasons-to-sell-this-winter","NAR Reports Reveal Two Reasons to Sell This Winter","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2015\u002F12\u002F01161927\u002FNAR-Report.jpg","2015-12-07T07:00:14Z",{"id":30,"slug":31,"title":32,"featuredImage":33,"publishedAt":34,"contentType":10,"isVideo":15},447,"home-prices-past-present-future","Home Prices: Past, Present & Future","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2015\u002F12\u002F01161927\u002FPast-Present-Future.jpg","2015-12-09T10:00:10Z",{"cover":36,"open":37,"shareSpread":38},"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",[40,44,45,49,53,57,61,65,69,73,77,81,85,89,93,97,101,105,109,113,117,121,125,129,133,137,141,145,149,153],{"id":41,"name":42,"slug":43},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":46,"name":47,"slug":48},6,"For Sellers","sellers",{"id":50,"name":51,"slug":52},7,"Foreclosures","foreclosures",{"id":54,"name":55,"slug":56},8,"Infographics","infographics",{"id":58,"name":59,"slug":60},9,"Home Prices","home-prices",{"id":62,"name":63,"slug":64},11,"First-Time Buyers","first-time-buyers",{"id":66,"name":67,"slug":68},34,"Senior Market","senior-market",{"id":70,"name":71,"slug":72},35,"Mortgage Rates","mortgage-rates",{"id":74,"name":75,"slug":76},38,"Move-Up","move-up",{"id":78,"name":79,"slug":80},41,"For Sale by Owner","for-sale-by-owner",{"id":82,"name":83,"slug":84},42,"Featured","featured",{"id":86,"name":87,"slug":88},45,"New Construction","new-construction",{"id":90,"name":91,"slug":92},52,"Luxury \u002F Vacation","luxury--vacation",{"id":94,"name":95,"slug":96},53,"Rent vs. Buy","rent-vs-buy",{"id":98,"name":99,"slug":100},80,"Time-sensitive","time-sensitive",{"id":102,"name":103,"slug":104},81,"Outdated","outdated",{"id":106,"name":107,"slug":108},147,"Internal","internal",{"id":110,"name":111,"slug":112},148,"Do Not Autopost","do-not-autopost",{"id":114,"name":115,"slug":116},320,"Inventory","inventory",{"id":118,"name":119,"slug":120},321,"Agent Value","agent-value",{"id":122,"name":123,"slug":124},322,"Affordability","affordability",{"id":126,"name":127,"slug":128},323,"Buying Tips","buying-tips",{"id":130,"name":131,"slug":132},324,"Downsize","downsize",{"id":134,"name":135,"slug":136},325,"Economy","economy",{"id":138,"name":139,"slug":140},326,"Equity","equity",{"id":142,"name":143,"slug":144},327,"Forecasts","forecasts",{"id":146,"name":147,"slug":148},328,"Selling Tips","selling-tips",{"id":150,"name":151,"slug":152},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":154,"name":155,"slug":156},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]