A recent survey by Ipsos found that the American public is still somewhat confused about what is actually necessary to qualify for a home mortgage loan in today’s housing market. The study pointed out two major misconceptions that we want to address today.1. Down PaymentThe survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the report, 36% think a 20% down payment is always required. In actuality, there are many loans written with a down payment of 3% or less.Here are the results from a Digital Risk survey done on Millennials:
Author:Ann Marie Cancro Phone: 717-468-1301 Dated: September 16th 2015 Views: 59 About Ann Marie: LICENSED: Licensed Real Estate Professional since October 1990.
AFFFILIATIONS: Lancaster Assoc. o...
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