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What Credit Score Do You Need for a Mortgage?

What Credit Score Do You Need for a Mortgage? | Simplifying The MarketAccording to data from the most recent Origination Insight Report by Ellie Mae, the average FICO® score on closed loans reached 753 in February. As lending standards have tightened recently, many are concerned over whether or not their credit score is strong enough to qualify for a mortgage. While stricter lending standards could be a challenge for […]

What Are the Benefits of a 20% Down Payment?

What Are the Benefits of a 20% Down Payment? | Simplifying The MarketIf you’re thinking of buying a home this year, you may be wondering how much money you need to come up with for your down payment. Many people may think it’s 20% of the loan to secure a mortgage. While there are plenty of lower down payment options available for qualified buyers who don’t want […]

Are There Going to Be More Homes to Buy This Year?

Are There Going to Be More Homes to Buy This Year? | Simplifying The MarketIf you’re looking for a home to purchase right now and having trouble finding one, you’re not alone. At a time like this when there are so few houses for sale, it’s normal to wonder if you’ll actually find one to buy. According to the National Association of Realtors (NAR), across the country, inventory of […]

The Reason Mortgage Rates Are Projected to Increase and What It Means for You

The Reason Mortgage Rates Are Projected to Increase and What It Means for You | Simplifying The MarketWe’re currently experiencing historically low mortgage rates. Over the last fifty years, the average on a Freddie Mac 30-year fixed-rate mortgage has been 7.76%. Today, that rate is 2.81%. Flocks of homebuyers have been taking advantage of these remarkably low rates over the last twelve months. However, there’s no guarantee rates will remain this low […]