What Do You Actually Need To Get A Mortgage

What Do You Actually Need To Get A Mortgage

Fannie Mae recently released their “What do consumers know about the Mortgage Qualification Criteria?” Study. The study revealed that Americans are misinformed about what is required to qualify for a mortgage when purchasing a home. Here are three takeaways:

  • 59% of Americans either don’t know (54%) or are misinformed (5%) about what FICO score is necessary

  • 86% of Americans either don’t know (59%) or are misinformed (25%) about what an appropriate Back End Debt-to-Income (DTI) ratios is

  • 76% of Americans either don’t know (40%) or are misinformed (36%) about the minimum down payment required


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Phone: 714-404-9256
Dated: February 11th 2016
Views: 547
About Henry: Henry Cossio Founder | Broker/Officer Henry Cossio’s clientele includes people with many diff...

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