January 12 2018
FICO Scores on Approved Home Loans Drop Again
According to Ellie Mae’s latest Origination Report, the average FICO Score on all closed loans dropped to 722 which is its lowest mark since April. The average includes all approved refinance and purchase loans.
The report also revealed that those who purchased homes in December with an FHA Loan were able to do so with an average down payment of 4% and a FICO Score of only 684.
More and more potential buyers are able to qualify for a mortgage loan now! If you are debating a home purchase, let’s get together and evaluate your ability to buy today!
Give me a call today!