Florida is No. 1, When it comes to Mortgage Rejections

March 11, 2017 by KatherineMatson Leave a comment What’s Up With Housing This Week? When it comes to mortgage rejections, Florida is No. 1 Almost 1 in 5 mortgage applications (17.1%) gets turned down in Fla., according a NerdWallet’s "Homebuyer Reality Report" that studied buyer experiences.

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Poor credit sank about 21 percent of denied mortgage applications. Mortgage lenders are stricter than auto lenders when it comes to credit, and generally want to see a credit score of at least 620-though the FHA and VA will lend to home buyers with credit scores in the 500s.

Florida is No. 1, When it comes to Mortgage Rejections Florida Is #1 When It Comes to Mortgage Rejections March 6, 2017 Justin Miller No Comments General News According to an article from FloridaRealtors.org Florida leads the country with almost 1 in 5 mortgage applications getting turned down. News, email and search are just the beginning.

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Florida Realtors Contract for Residential Sale and Purchase Addenda. It is not intended to be used for: 1. Agreement/Contract for Deed: This is basically a security arrangement instead of a purchase money mortgage. When an agreement for deed is used, seller is the record title owner until the agreement is completely fulfilled.

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