[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f305x6mkz36vs0":3,"$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},898,"dont-disqualify-yourself-52-of-approved-loans-have-a-fico-score-under-750","Don’t Disqualify Yourself… 52% of Approved Loans Have A FICO® Score Under 750","The results of countless studies have shown that potential home buyers, and even current homeowners, have an inflated view of what is really required to qualify for a mortgage in today’s market.","","blog","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2017\u002F08\u002F21110041\u002F20170828-Share-STM.jpg","The results of countless studies have shown that potential home buyers, and even current homeowners, have an inflated view of what is really required to qualify for a mortgage in today’s market.\u003C!--more-->\r\n\r\nOne such study by the \u003Cem>Wharton School of Business\u003C\u002Fem> at the \u003Cem>University of Pennsylvania\u003C\u002Fem> revealed that many millennials have not yet considered purchasing homes simply because they don’t believe they can qualify for a mortgage.\r\n\r\nA recent \u003Ca href=\"http:\u002F\u002Fwww.realtor.com\u002Fnews\u002Ftrends\u002Fmillennials-home-buying-down-payment-savings\u002F\">article\u003C\u002Fa> about millennials by \u003Cem>Realtor.com\u003C\u002Fem> explained that:\r\n\u003Cblockquote>“\u003Cem>About 72% of aspiring millennial buyers said they’re waiting because they can’t afford to buy…\u003C\u002Fem>”\u003C\u002Fblockquote>\r\nThe article also explained that \u003Cem>29% of millennials believe their credit scores are too low to buy\u003C\u002Fem>.The problem here is the fact that they \u003Cstrong>\u003Cem>think\u003C\u002Fem>\u003C\u002Fstrong> they will be denied a mortgage is keeping them from even\u003Cstrong> \u003Cem>attempting\u003C\u002Fem> \u003C\u002Fstrong>to apply.\r\n\r\n\u003Cem>Ellie Mae’s Vice President\u003C\u002Fem> Jonas Moe encouraged buyers to know their options before assuming that they won’t qualify for a mortgage:\r\n\u003Cblockquote>\u003Cem>“Many potential home buyers are ‘disqualifying’ themselves. You don’t need a 750 FICO® Score and a \u003C\u002Fem>\u003Ca href=\"https:\u002F\u002Fwww.keepingcurrentmatters.com\u002F2017\u002F06\u002F07\u002F69-of-buyers-are-wrong-about-down-payment-needs\u002F\">\u003Cem>20% down payment\u003C\u002Fem>\u003C\u002Fa>\u003Cem> to buy.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>So, what credit score is necessary?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nBelow is a breakdown of the FICO\u003Csup>®\u003C\u002Fsup> Score distribution of all closed (approved) loans in July from \u003Cem>Ellie Mae’s \u003C\u002Fem>latest \u003Cem>Origination Report\u003C\u002Fem>.\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2017\u002F08\u002F20170828-STM-ENG.jpg\">\u003Cimg class=\"alignnone wp-image-36060\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2017\u002F08\u002F20170828-STM-ENG.jpg\" alt=\"Don’t Disqualify Yourself… 52% of Approved Loans Have A FICO® Score Under 750 | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\r\nOver 52% of all approved loans had a FICO\u003Csup>®\u003C\u002Fsup> Score under 750. Many potential home buyers believe that they need a score over 780 to qualify.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nIf owning a home of your own has always been your dream and you are ready and willing to buy, or if you are a homeowner who wants to move up, find out if you are able to! Let’s get together to determine if your dreams can become a reality sooner than you thought!","\r\nIf owning a home of your own has always been your dream and you are ready and willing to buy, or if you are a homeowner who wants to move up, find out if you are able to! Let’s get together to determine if your dreams can become a reality sooner than you thought!","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2017\u002F08\u002F20170828-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","2017-08-28T10:00:10Z","2017-08-21T15:21:06Z",{"id":32,"slug":33,"title":34,"featuredImage":35,"publishedAt":36,"contentType":10,"isVideo":15},897,"home-prices-up-6-64-across-the-country-infographic","Home Prices Up 6.64% Across the Country! [INFOGRAPHIC]","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2017\u002F08\u002F24140034\u002F20170825-Share-STM.jpg","2017-08-25T10:00:05Z",{"id":38,"slug":39,"title":40,"featuredImage":41,"publishedAt":42,"contentType":10,"isVideo":15},899,"where-are-the-home-prices-heading-in-the-next-5-years-2","Where Are Home Prices Heading in The Next 5 Years?","https:\u002F\u002Fsimplifyingmedia\u002Fwp-content\u002Fuploads\u002F2017\u002F08\u002F21122012\u002F20170829-Share-STM.jpg","2017-08-29T10:00:38Z",{"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"]