Whether you are considering the purchase of your first home or trading up to the home your family frequently fantasizes about, there are three crucial questions you must know the answer to:
What is theminimum down paymentrequired to purchase a home?
What is theminimum FICOscorerequired to qualify for a mortgage?
What is themaximum Back-End DTI Ratioallowed?
A survey conducted byFannie Maerevealed startling information: most Americans don’t know the answer to these three crucially important questions. Here is a graphic showing the results of the survey:
The percentages are quite disturbing but can explain why so many people believe they are not eligible to purchase a home whether it is a first home or a trade-up home. Here are the actually requirements as per Fannie Mae:
An "Executive" is perceived to be more than just an "agent" by both consumers and the industry at large. This is our brand. We are perceived to be more experienced, better negotiators, highly skilled and able to sell homes faster. We are perceived to be "the true Executives of the industry."