Homebuyers don’t know mortgage basics: Zillow

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According to the results of a recent Zillow Mortgage Marketplace survey, 44 percent of prospective homebuyer respondents admitted they. means they have secured financing, and 57 percent don’t know.

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 · How can you keep yourself “mortgage-worthy?” There are three things to avoid when it comes to buying a home. Don’t take out any new lines of credit from the time you are pre-approved for your mortgage until the time you close on your home. Doing so throughout the process could change your financials and render you unable to carry out the transaction.

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 · In releasing the results, Zillow pronounced homebuyers in general to be "ill-prepared" to take out a mortgage, getting the basic facts wrong in the survey about half the time.

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Zillow: People Don’t Know Much About mortgages colin robertson May 9, 2013 No Comments A new survey from Zillow revealed that prospective home buyers may be "ill-prepared to take out a mortgage," with basic mortgage questions answered incorrectly nearly one-third of the time.

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According to the Zillow Group Consumer housing trends report 2017, 92 percent of buyers who finance their home with a mortgage get pre-approved first. Buyers who use an agent are more likely to obtain pre-approval than those who don’t work with an agent (83 percent, compared with 67 percent), indicating that pre-approval is either a.

According to a Zillow.com study: Among first-time buyers, 38 percent say they’re "somewhat concerned" about whether they qualify for a mortgage. Seven percent say they don’t know what to expect from the mortgage process. When seeking a mortgage, 54 percent will contact two or more lenders.

The 7 Low-Down Payment Loans For Home Buyers - Today's Mortgage and Real Estate News Zillow recently surveyed prospective and current homeowners about their mortgage expertise, and results from the study reveal that many homebuyers don’t know.

I recommend that you contact a mortgage banker that you know, like, and trust. If you don’t know any mortgage bankers. preapproved or prequalified for a mortgage? “It gives homebuyers an edge.

What’s in a mortgage payment? October 5, 2017. When you buy a home, the most tangible and recurring cost you’ll encounter is your monthly mortgage payment. But many homebuyers don’t know what’s actually included in it. You might be thinking it’s just about the loan itself, but there’s more to it than that.