[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f1ihs0zg13a508":3,"$ffeh0925h8cuz":47,"$f2emv3tus0uf1":51,"$fbwk2pqjjqsc7":55},{"item":4,"previous":35,"next":41},{"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":33,"updatedAt":34},1364,"2-myths-holding-back-home-buyers-3","2 Myths Holding Back Home Buyers","\u003Cem>Freddie Mac\u003C\u002Fem> recently \u003Ca href=\"http:\u002F\u002Fwww.freddiemac.com\u002Ffmac-resources\u002Fresearch\u002Fpdf\u002F201905-Insight-02.pdf\">released\u003C\u002Fa> a report entitled, \u003Cem>“Perceptions of Down Payment Consumer Research.” \u003C\u002Fem>\r\n\r\n","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2019\u002F06\u002F26115644\u002F20190610-Share-KCM-1.jpg","\u003Cem>Freddie Mac\u003C\u002Fem> recently \u003Ca href=\"http:\u002F\u002Fwww.freddiemac.com\u002Ffmac-resources\u002Fresearch\u002Fpdf\u002F201905-Insight-02.pdf\">released\u003C\u002Fa> a report entitled, \u003Cem>“Perceptions of Down Payment Consumer Research.” \u003C\u002Fem>\r\n\r\n\u003C!--more-->Their research revealed that,\r\n\u003Cblockquote>\u003Cem>“For many prospective homebuyers, saving for a down payment is the largest barrier to achieving the goal of homeownership. Part of the challenge for those planning to purchase a home is their perception of how much they will need to save for the down payment…\u003C\u002Fem>\r\n\r\n\u003Cem>…Based on our recent survey of individuals planning to purchase a home in the next three years, nearly a third think they need to put more than 20% down.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>Myth #1: “I Need a 20% Down Payment”\u003C\u002Fstrong>\u003C\u002Fh4>\r\nBuyers often overestimate the funds needed to qualify for a home loan. According to the same report:\r\n\r\n22% of renters and 31% of homeowners believe lenders require 20% or more of a home’s sale price as a down payment for a typical mortgage today. And,\r\n\u003Cblockquote>\u003Cem>“If a 20% down payment was required, 70% of those who were planning to buy a home in the next three years said it would delay them from purchasing and nearly 30% indicated they would never be able to afford a home.”  \u003C\u002Fem>\u003C\u002Fblockquote>\r\nWhile many believe at least \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2019\u002F02\u002F05\u002Fone-more-time-you-do-not-need-20-down-to-buy-a-home\u002F\">20% down\u003C\u002Fa> is necessary to buy the home of their dreams, they do not realize programs are available which permit as little as 3%. Many renters may actually be able to enter the housing market \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2019\u002F04\u002F29\u002Fhow-quickly-can-you-save-your-down-payment\u002F\">sooner\u003C\u002Fa> than they ever imagined!\r\n\u003Ch4>\u003Cstrong>Myth #2: “I Need a 780 FICO® Score or Higher to Buy”\u003C\u002Fstrong>\u003C\u002Fh4>\r\nMany either don’t know or are misinformed concerning the FICO® score \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2019\u002F03\u002F19\u002Fwhat-credit-score-do-you-need-to-buy-a-house\u002F\">necessary\u003C\u002Fa> to qualify, believing a ‘good’ credit score is 780 or higher.\r\n\r\nTo debunk this myth, let’s take a look at \u003Cem>Ellie Mae’s\u003C\u002Fem> latest \u003Ca href=\"http:\u002F\u002Fwww.elliemae.com\u002Fresources\u002Forigination-insight-reports\">\u003Cem>Origination Insight Report\u003C\u002Fem>\u003C\u002Fa>\u003Cem>,\u003C\u002Fem> which focuses on recently closed (approved) loans.\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2019\u002F06\u002F20190610-MEM.jpg\">\u003Cimg class=\"aligncenter wp-image-39871\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2019\u002F06\u002F20190610-MEM.jpg\" alt=\"2 Myths Holding Back Home Buyers | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>As indicated in the chart above, 52.4% 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\u002F2019\u002F06\u002F20190610-MEM.jpg",false,[17,21,25,29],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},6,"For Sellers","sellers",{"id":26,"name":27,"slug":28},11,"First-Time Buyers","first-time-buyers",{"id":30,"name":31,"slug":32},38,"Move-Up","move-up","2019-06-10T10:00:48Z","2019-07-26T11:57:02Z",{"id":36,"slug":37,"title":38,"featuredImage":39,"publishedAt":40,"contentType":10,"isVideo":15},1363,"what-is-the-cost-of-waiting-until-next-year-to-buy-infographic-2","What is the Cost of Waiting Until Next Year to Buy? [INFOGRAPHIC]","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2019\u002F06\u002F03160522\u002F20190607-Share-KCM.jpg","2019-06-07T10:00:13Z",{"id":42,"slug":43,"title":44,"featuredImage":45,"publishedAt":46,"contentType":10,"isVideo":15},1365,"renting-or-owning-what-is-better-for-you","Renting or Owning, What Is Better for You?","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2019\u002F06\u002F08170647\u002F20190611-Share-KCM.jpg","2019-06-11T10:00:59Z",{"cover":48,"open":49,"shareSpread":50},"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",{"cover":52,"open":53,"shareSpread":54},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Magazine-original.png",[56,60,61,62,66,70,74,75,79,83,84,88,92,96,100,104,108,112,116,120,124,128,132,136,140,144,148,152,156,160],{"id":57,"name":58,"slug":59},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":22,"name":23,"slug":24},{"id":63,"name":64,"slug":65},7,"Foreclosures","foreclosures",{"id":67,"name":68,"slug":69},8,"Infographics","infographics",{"id":71,"name":72,"slug":73},9,"Home Prices","home-prices",{"id":26,"name":27,"slug":28},{"id":76,"name":77,"slug":78},34,"Senior Market","senior-market",{"id":80,"name":81,"slug":82},35,"Mortgage Rates","mortgage-rates",{"id":30,"name":31,"slug":32},{"id":85,"name":86,"slug":87},41,"For Sale by Owner","for-sale-by-owner",{"id":89,"name":90,"slug":91},42,"Featured","featured",{"id":93,"name":94,"slug":95},45,"New Construction","new-construction",{"id":97,"name":98,"slug":99},52,"Luxury \u002F Vacation","luxury--vacation",{"id":101,"name":102,"slug":103},53,"Rent vs. Buy","rent-vs-buy",{"id":105,"name":106,"slug":107},80,"Time-sensitive","time-sensitive",{"id":109,"name":110,"slug":111},81,"Outdated","outdated",{"id":113,"name":114,"slug":115},147,"Internal","internal",{"id":117,"name":118,"slug":119},148,"Do Not Autopost","do-not-autopost",{"id":121,"name":122,"slug":123},320,"Inventory","inventory",{"id":125,"name":126,"slug":127},321,"Agent Value","agent-value",{"id":129,"name":130,"slug":131},322,"Affordability","affordability",{"id":133,"name":134,"slug":135},323,"Buying Tips","buying-tips",{"id":137,"name":138,"slug":139},324,"Downsize","downsize",{"id":141,"name":142,"slug":143},325,"Economy","economy",{"id":145,"name":146,"slug":147},326,"Equity","equity",{"id":149,"name":150,"slug":151},327,"Forecasts","forecasts",{"id":153,"name":154,"slug":155},328,"Selling Tips","selling-tips",{"id":157,"name":158,"slug":159},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":161,"name":162,"slug":163},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]