What Does It Take to Qualify for a Mortgage?

According to a survey from Fannie Mae, homebuyers in America have some false impressions about what it takes to qualify for a mortgage loan. For example, the survey found that most borrowers thought they needed a minimum credit score of 650 to purchase a home—this is simply not the case. You actually only need a credit score of 580; there are some extra requirements that may be put into place, but it’s still possible to get a mortgage. To learn more about what is actually required in order to qualify for a home loan, watch my latest video.