The majority of consumers are wildly wrong about what it takes to get a mortgage – Fasti News

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06.11.19 The majority of consumers are wildly wrong about what it takes to get a mortgage CNBC 06.11.19 Loosening of credit standards reaches a post-housing crisis high National Mortgage News

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.

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The majority of consumers are wildly wrong about what it takes to get a mortgage The majority of consumers 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.

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However, speaking to Money Marketing, Treasury economic secretary. “There is nothing wrong with innovation in itself but if these products are going to be sold direct to consumers, there needs to.