[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f34gtgkif9c0pk":3,"$ffeh0925h8cuz":43,"$fbwk2pqjjqsc7":47},{"item":4,"previous":31,"next":37},{"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":29,"updatedAt":30},853,"2-myths-holding-back-home-buyers","2 Myths Holding Back Home Buyers","In \u003Cem>Realtor.com’s\u003C\u002Fem> recent \u003Ca href=\"http:\u002F\u002Fwww.realtor.com\u002Fadvice\u002Ffinance\u002Fhome-buyers-top-mortgage-fears\u002F\">article\u003C\u002Fa>, “\u003Cem>Home Buyers’ Top Mortgage Fears: Which One Scares You\u003C\u002Fem>?” they mention that “\u003Cem>46% of potential home buyers fear they won’t qualify for a mortgage to the point that they don’t even try\u003C\u002Fem>.”","","blog","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2017\u002F06\u002F09104230\u002F20170619-Share-STM.jpg","In \u003Cem>Realtor.com’s\u003C\u002Fem> recent \u003Ca href=\"http:\u002F\u002Fwww.realtor.com\u002Fadvice\u002Ffinance\u002Fhome-buyers-top-mortgage-fears\u002F\">article\u003C\u002Fa>, “\u003Cem>Home Buyers’ Top Mortgage Fears: Which One Scares You\u003C\u002Fem>?” they mention that “\u003Cem>46% of potential home buyers fear they won’t qualify for a mortgage to the point that they don’t even try\u003C\u002Fem>.”\u003C!--more-->\r\n\u003Ch4>\u003Cstrong>Myth #1: “I Need a 20% Down Payment”\u003C\u002Fstrong>\u003C\u002Fh4>\r\nBuyers overestimate the down payment funds needed to qualify for a home loan. According to the \u003Ca href=\"http:\u002F\u002Fdownpaymentresource.com\u002Fwordpress\u002Fwp-content\u002Fuploads\u002F2017\u002F05\u002FHPI-Q1-2017-press-release-2.pdf\">\u003Cem>First Quarter 2017 Homeownership Program Index\u003C\u002Fem>\u003C\u002Fa>\u003Cem> (HPI)\u003C\u002Fem> from \u003Cem>Down Payment Resource, \u003C\u002Fem>\u003Cstrong>saving for a down payment was the barrier that kept 70% of renters from buying\u003C\u002Fstrong>.\r\n\r\nRob Chrane, \u003Cem>CEO\u003C\u002Fem> of \u003Cem>Down Payment Resource\u003C\u002Fem> had this to say,\r\n\u003Cblockquote>“\u003Cem>There are many mortgage\u003C\u002Fem>\u003Cem>-ready renters today, but they don’t know it. Often, homebuyers remain sidelined for years due to the down payment.\u003C\u002Fem>”\u003C\u002Fblockquote>\r\nMany believe that they need at least 20% down to buy their dream home, but programs are available that allow buyers put down as little as 3%. Many renters may actually be able to enter the housing market sooner than they ever imagined with new programs that have emerged allowing less cash out of pocket.\r\n\u003Ch4>\u003Cstrong>Myth #2: “I Need a 780 FICO® Score or Higher to Buy”\u003C\u002Fstrong>\u003C\u002Fh4>\r\nThe survey revealed that 59% of Americans either don’t know (54%) or are misinformed (5%) about what FICO® score is necessary to qualify.\r\n\r\nMany Americans believe a ‘good’ credit score is 780 or higher.\r\n\r\nTo help debunk this myth, let’s take a look at \u003Cem>Ellie Mae’s\u003C\u002Fem> latest \u003Ca href=\"https:\u002F\u002Fcdn.elliemae.com\u002Forigination-insight-reports\u002FEllie_Mae_OIR_APRIL2017.pdf\">\u003Cem>Origination Insight Report\u003C\u002Fem>\u003C\u002Fa>\u003Cem>,\u003C\u002Fem> which focuses on recently closed (approved) loans.\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2017\u002F06\u002F20170626-STM-ENG.jpg\">\u003Cimg class=\"alignnone wp-image-35777\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2017\u002F06\u002F20170626-STM-ENG.jpg\" alt=\"2 Myths Holding Back Home Buyers | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\r\nAs you can see in the chart above, \u003Cstrong>53.2%\u003C\u002Fstrong> of approved mortgages had a credit score of 600-749.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nWhether buying your first home or moving up to your dream home, knowing your options will make the mortgage process easier. Your dream home may already be within your reach.","\r\nWhether buying your first home or moving up to your dream home, knowing your options will make the mortgage process easier. Your dream home may already be within your reach.","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2017\u002F06\u002F20170626-STM-ENG.jpg",false,[17,21,25],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},11,"First-Time Buyers","first-time-buyers",{"id":26,"name":27,"slug":28},38,"Move-Up","move-up","2017-06-26T10:00:27Z","2017-09-29T16:18:54Z",{"id":32,"slug":33,"title":34,"featuredImage":35,"publishedAt":36,"contentType":10,"isVideo":15},852,"the-cost-of-renting-vs-buying-in-the-us-infographic","The Cost of Renting vs. Buying in the US [INFOGRAPHIC]","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2017\u002F06\u002F20140325\u002F20170623-Share-STM.jpg","2017-06-23T10:00:55Z",{"id":38,"slug":39,"title":40,"featuredImage":41,"publishedAt":42,"contentType":10,"isVideo":15},854,"pre-approval-should-always-be-your-first-step","Pre-Approval Should Always Be Your First Step","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2017\u002F06\u002F09114821\u002F20170626-Share-STM.jpg","2017-06-27T10:00:20Z",{"cover":44,"open":45,"shareSpread":46},"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",[48,52,53,57,61,65,69,70,74,78,79,83,87,91,95,99,103,107,111,115,119,123,127,131,135,139,143,147,151,155],{"id":49,"name":50,"slug":51},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":54,"name":55,"slug":56},6,"For Sellers","sellers",{"id":58,"name":59,"slug":60},7,"Foreclosures","foreclosures",{"id":62,"name":63,"slug":64},8,"Infographics","infographics",{"id":66,"name":67,"slug":68},9,"Home Prices","home-prices",{"id":22,"name":23,"slug":24},{"id":71,"name":72,"slug":73},34,"Senior Market","senior-market",{"id":75,"name":76,"slug":77},35,"Mortgage Rates","mortgage-rates",{"id":26,"name":27,"slug":28},{"id":80,"name":81,"slug":82},41,"For Sale by Owner","for-sale-by-owner",{"id":84,"name":85,"slug":86},42,"Featured","featured",{"id":88,"name":89,"slug":90},45,"New Construction","new-construction",{"id":92,"name":93,"slug":94},52,"Luxury \u002F Vacation","luxury--vacation",{"id":96,"name":97,"slug":98},53,"Rent vs. Buy","rent-vs-buy",{"id":100,"name":101,"slug":102},80,"Time-sensitive","time-sensitive",{"id":104,"name":105,"slug":106},81,"Outdated","outdated",{"id":108,"name":109,"slug":110},147,"Internal","internal",{"id":112,"name":113,"slug":114},148,"Do Not Autopost","do-not-autopost",{"id":116,"name":117,"slug":118},320,"Inventory","inventory",{"id":120,"name":121,"slug":122},321,"Agent Value","agent-value",{"id":124,"name":125,"slug":126},322,"Affordability","affordability",{"id":128,"name":129,"slug":130},323,"Buying Tips","buying-tips",{"id":132,"name":133,"slug":134},324,"Downsize","downsize",{"id":136,"name":137,"slug":138},325,"Economy","economy",{"id":140,"name":141,"slug":142},326,"Equity","equity",{"id":144,"name":145,"slug":146},327,"Forecasts","forecasts",{"id":148,"name":149,"slug":150},328,"Selling Tips","selling-tips",{"id":152,"name":153,"slug":154},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":156,"name":157,"slug":158},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]