{"id":1944,"date":"2017-08-28T10:00:10","date_gmt":"2017-08-28T10:00:10","guid":{"rendered":"https:\/\/thezakariagroup.com\/dont-disqualify-yourself-52-of-approved-loans-have-a-fico-score-under-750\/"},"modified":"2017-08-28T10:00:10","modified_gmt":"2017-08-28T10:00:10","slug":"dont-disqualify-yourself-52-of-approved-loans-have-a-fico-score-under-750","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/dont-disqualify-yourself-52-of-approved-loans-have-a-fico-score-under-750\/","title":{"rendered":"Don\u2019t Disqualify Yourself\u2026 52% of Approved Loans Have A FICO\u00ae Score Under 750"},"content":{"rendered":"
\n

\"Don\u2019t<\/p>\n

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\u2019s market.<\/span><\/p>\n

One such study by the\u00a0Wharton School of Business<\/em>\u00a0at the\u00a0University of Pennsylvania<\/em> revealed that many millennials have not yet considered purchasing homes simply because they don\u2019t believe they can\u00a0qualify for a mortgage.<\/p>\n

A recent article<\/a> about millennials by Realtor.com<\/em> explained that:<\/p>\n

\n

\u201cAbout 72% of aspiring millennial buyers said they\u2019re waiting because they can\u2019t afford to buy\u2026<\/em>\u201d<\/p>\n<\/blockquote>\n

The article also explained that 29% of millennials believe their credit scores are too low to buy<\/em>.The problem here is the fact that they think<\/em><\/strong> they will be denied a mortgage is keeping them from even attempting<\/em> <\/strong>to apply.<\/p>\n

Ellie Mae\u2019s Vice President<\/em> Jonas Moe encouraged buyers to know their options before assuming that they won\u2019t qualify for a mortgage:<\/p>\n

\n

\u201cMany potential home buyers are \u2018disqualifying\u2019 themselves. You don\u2019t need a 750 FICO\u00ae\u00a0Score and a <\/em>20% down payment<\/em><\/a> to buy.\u201d<\/em><\/p>\n<\/blockquote>\n

So, what credit score is necessary?<\/strong><\/h4>\n

Below is a breakdown of the FICO\u00ae<\/sup>\u00a0Score distribution of all closed (approved) loans in July from\u00a0Ellie Mae\u2019s\u00a0<\/em>latest\u00a0Origination Report<\/em>.<\/p>\n

\"Don\u2019t<\/a><\/p>\n

Over 52% of all approved loans had a\u00a0FICO\u00ae<\/sup>\u00a0Score under 750. Many potential home buyers believe that they need a score over 780 to qualify.<\/p>\n

Bottom Line<\/strong><\/h3>\n

If 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\u2019s get together to determine if your dreams can become a reality sooner than you thought!<\/p>\n<\/div>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

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\u2019s market. One such study by the\u00a0Wharton School of Business\u00a0at the\u00a0University of Pennsylvania revealed that many millennials have not yet considered purchasing homes simply because […]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[98,99,101],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\nDon\u2019t Disqualify Yourself\u2026 52% of Approved Loans Have A FICO\u00ae Score Under 750 - The Zakaria Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thezakariagroup.com\/dont-disqualify-yourself-52-of-approved-loans-have-a-fico-score-under-750\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Don\u2019t Disqualify Yourself\u2026 52% of Approved Loans Have A FICO\u00ae Score Under 750 - The Zakaria Group\" \/>\n<meta property=\"og:description\" content=\"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\u2019s market. One such study by the\u00a0Wharton School of Business\u00a0at the\u00a0University of Pennsylvania revealed that many millennials have not yet considered purchasing homes simply because […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thezakariagroup.com\/dont-disqualify-yourself-52-of-approved-loans-have-a-fico-score-under-750\/\" \/>\n<meta property=\"og:site_name\" content=\"The Zakaria Group\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/thezakariagroup\/\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-28T10:00:10+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/d39ah2zlibpm3g.cloudfront.net\/wp-content\/uploads\/2017\/08\/21110041\/20170828-Share-STM.jpg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thezakariagroup.com\/dont-disqualify-yourself-52-of-approved-loans-have-a-fico-score-under-750\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thezakariagroup.com\/dont-disqualify-yourself-52-of-approved-loans-have-a-fico-score-under-750\/\"},\"author\":{\"name\":\"\",\"@id\":\"https:\/\/thezakariagroup.com\/#\/schema\/person\/3faf57a8142a13b0b75bddafdfe7ec5d\"},\"headline\":\"Don\u2019t Disqualify Yourself\u2026 52% of Approved Loans Have A FICO\u00ae Score Under 750\",\"datePublished\":\"2017-08-28T10:00:10+00:00\",\"dateModified\":\"2017-08-28T10:00:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thezakariagroup.com\/dont-disqualify-yourself-52-of-approved-loans-have-a-fico-score-under-750\/\"},\"wordCount\":301,\"publisher\":{\"@id\":\"https:\/\/thezakariagroup.com\/#organization\"},\"articleSection\":[\"First Time Home Buyers\",\"For Buyers\",\"Move-Up Buyers\"],\"inLanguage\":\"en\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thezakariagroup.com\/dont-disqualify-yourself-52-of-approved-loans-have-a-fico-score-under-750\/\",\"url\":\"https:\/\/thezakariagroup.com\/dont-disqualify-yourself-52-of-approved-loans-have-a-fico-score-under-750\/\",\"name\":\"Don\u2019t Disqualify Yourself\u2026 52% of Approved Loans Have A FICO\u00ae Score Under 750 - 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