Many potential homebuyers believe that they need a 20% down payment and a 780 FICO® score to qualify to buy a home which stops many of them from even trying! Here are some facts:
- 72% of buyers who purchased homes this year have put down less than 20%.
- 76.4% of loan applications were approved last month.
- The average credit score of approved loans was 727 in September.
Source: Keeping Matters Current