Know the facts…
- According to the Realtors Confidence Index from the National Association of Realtors, “72% of first-time home buyers put down less than 20%”.
- According to Ellie Mae’s latest Origination Insight Report, over 50% of approved mortgages had a credit score of 600-749.
- Home ownership is highly correlated to building wealth. According to the Federal Reserve, homeowners have an average wealth of $231,420 while renters have an average wealth of $5,200.
- 76.4% of loan applications were approved last month (EllieMae).
For more information on buying or selling a home in Northern Virginia, contact The Gus Anthony Team.
Tel: (703) 818-1886