{"id":2043,"date":"2018-01-10T11:00:16","date_gmt":"2018-01-10T11:00:16","guid":{"rendered":"https:\/\/thezakariagroup.com\/fico-scores-on-approved-home-loans-drop-again\/"},"modified":"2018-01-10T11:00:16","modified_gmt":"2018-01-10T11:00:16","slug":"fico-scores-on-approved-home-loans-drop-again","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/fico-scores-on-approved-home-loans-drop-again\/","title":{"rendered":"FICO\u00ae Scores on Approved Home Loans Drop Again"},"content":{"rendered":"<div>\n<p><img fetchpriority=\"high\" decoding=\"async\" width=\"648\" height=\"354\" src=\"http:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2018\/01\/09115421\/20180110-Share-STM.jpg\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"FICO\u00ae Scores on Approved Home Loans Drop Again | Simplifying The Market\" style=\"display: block; margin-bottom: 5px; clear:both;max-width: 100%;\" srcset=\"http:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2018\/01\/09115421\/20180110-Share-STM.jpg 750w, http:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2018\/01\/09115421\/20180110-Share-STM-549x300.jpg 549w\" sizes=\"(max-width: 648px) 100vw, 648px\"><\/p>\n<p>According to <em>Ellie Mae\u2019s <\/em>latest <a href=\"https:\/\/static.elliemae.com\/pdf\/origination-insight-reports\/Ellie_Mae_OIR_NOVEMBER2017.pdf\"><em>Origination Report<\/em><\/a>, the average FICO\u00ae Score on all closed loans dropped to 722 which is its lowest mark since April. The average includes all approved refinance and purchase loans.<span id=\"more-36862\"><\/span><\/p>\n<p>FHA and VA loans showed the most opportunity for millennials looking to enter the market with low down payments and even lower FICO\u00ae Score requirements.<\/p>\n<p><em>Ellie Mae\u2019s <\/em><a href=\"https:\/\/elliemae.com\/millennial-tracker\"><em>Millennial Tracker<\/em><\/a> revealed that those who purchased homes in December with an FHA Loan were able to do so with an average down payment of 4% and a FICO\u00ae Score of only 684.<\/p>\n<p>Joe Tyrell,<em> EVP <\/em>of<em> Corporate Strategy <\/em>at<em> Ellie <\/em>Mae commented on the opportunity this brings to buyers,<\/p>\n<blockquote>\n<p><em>\u201cWith the average credit score dipping, lenders are extending credit to borrowers who may have had no previous access to the housing market.\u201d<\/em><\/p>\n<\/blockquote>\n<h3><strong>Bottom Line<\/strong><\/h3>\n<p>More and more potential buyers are able to qualify for a mortgage loan now! If you are debating a home purchase, let\u2019s get together and evaluate your ability to buy today!<\/p>\n<\/div>\n<p class=\"wpematico_credit\"><small>Powered by <a href=\"http:\/\/www.wpematico.com\" target=\"_blank\">WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to Ellie Mae\u2019s latest Origination Report, the average FICO\u00ae Score on all closed loans dropped to 722 which is its lowest mark since April. The average includes all approved refinance and purchase loans. FHA and VA loans showed the most opportunity for millennials looking to enter the market with low down payments and even [&hellip;]<\/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":"<!-- This site is optimized with the Yoast SEO plugin v22.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FICO\u00ae Scores on Approved Home Loans Drop Again - 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\/fico-scores-on-approved-home-loans-drop-again\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FICO\u00ae Scores on Approved Home Loans Drop Again - The Zakaria Group\" \/>\n<meta property=\"og:description\" content=\"According to Ellie Mae\u2019s latest Origination Report, the average FICO\u00ae Score on all closed loans dropped to 722 which is its lowest mark since April. 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