3 Crucial Questions Most Home Buyers Don’t Know the Answer To…DO YOU?

3 Crucial Questions Most Home Buyers Don’t Know the Answer To. DO YOU? | Keeping Current Matters

Whether you are considering the purchase of your first home or trading up to the home your family frequently fantasizes about, there are three crucial questions you must know the answer to:

  1. What is the minimum down payment required to purchase a home?

  2. What is the minimum FICO score required to qualify for a mortgage?

  3. What is the maximum Back-End DTI Ratio allowed?

A survey conducted by Fannie Mae revealed startling information: most Americans don’t know the answer to these three crucially important questions. Here is a graphic showing the results of the survey:

3 Crucial Questions Most Home Buyers Don’t Know the Answer To. DO YOU? | Keeping Current Matters

The percentages are quite disturbing but can explain why so many people believe they are not eligible to purchase a home whether it is a first home or a trade-up home. Here are the actually requirements as per Fannie Mae:

3 Crucial Questions Most Home Buyers Don’t Know the Answer To. DO YOU? | Keeping Current Matters

Bottom Line

If you are considering purchasing a home, make sure you are aware of all your options before moving forward.

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About abolastig

Antonio Bolastig is one of the most dedicated and committed real estate agents in the nation. There are many qualities and skills that go into being an excellent real estate professional - integrity, in-depth community and market knowledge, marketing savvy, effective negotiation skills and a high-quality professional network, all of which are hallmarks of how Antonio work. That said, in Antonio''s experience as a real estate professional, hehas also found that providing the very best service is essentially about putting his clients first. This means keeping himself accessible, being a good listener as well as a good communicator, and responding quickly to his clients'' needs. This "client first" philosophy has always been his approach and it requires him to continually improve his skills and ways of doing business. In addition, Antonio has found that the latest technologies are enabling him to do everything he has always done, only much more quickly and efficiently. They''ve also helped him to extend the range of services he provide to his clients. Antonio is backed by Realty Mark LLC, recognized as a leading real estate company with the most productive sales force in the industry. So when you decide that you''d like to buy or sell a home, please contact Antonio Bolastig.
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