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The Truths Young Homebuyers Need To Hear

The Truths Young Homebuyers Need To Hear | Simplifying The MarketFor many young or first-time homebuyers, purchasing a home can feel intimidating. A recent survey shows some homebuyers ages 25 to 40 may be unsure about the homebuying process and what they can afford. It found: “1 in 4 underestimated their buying potential by $150k or more” “1 in 4 underestimated the increase in value […]

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 […]

FICO® Score to Qualify for a Mortgage?

What FICO® Score Do You Need to Qualify for a Mortgage? | Simplifying The MarketIt’s common knowledge that your FICO® score plays an important role in the homebuying process. However, many buyers have misconceptions regarding what exactly is required to get the loans they need. While a recent announcement from CNBC shares that the average national FICO® score has reached an all-time high of 706, the good news for […]

62% of Buyers Are Wrong About Down Payment Needs

62% of Buyers Are Wrong About Down Payment Needs | Simplifying The MarketContrary to common misconception, a down payment is often much less than many believe. According to the ‘2019 Home Buyer Report’ conducted by Nerdwallet, many first-time buyers still believe they need a 20% down payment to buy a home in today’s market: “More than 6 in 10 (62%) Americans believe you must put at least 20% down in […]

A Latte a Day Keeps Homeownership Away [INFOGRAPHIC]

Some Highlights:

The pumpkin spice latte is launching soon, so you may be tempted to spend your extra cash on a daily caffeine fix, but that small expense can add up to a big number – fast!
Saving for a down payment takes a little discipline, so lim…

Busting the Myth About a Housing Affordability Crisis

Busting the Myth About a Housing Affordability Crisis | Simplifying The MarketIt seems you can’t find a headline with the term “housing affordability” without the word “crisis” attached to it. That’s because some only consider the fact that residential real estate prices have continued to appreciate. However, we must realize it’s not just the price of a home that matters, but the price relative to a […]