The Majority of Consumers are Wildly Wrong About What it Takes to Get a Mortgage
CNBC, June 11, 2019–Diana Olick
The majority of consumers now think it is much harder to qualify for a home loan than it actually is, according to a recent Fannie Mae survey of more than 3,000 people. Respondents thought they needed much higher credit scores and bigger down payments than necessary. They also didn’t know much about the minimum debt levels lenders require.
