Thursday, September 15, 2011

What is the Median Family FICO Score?

The median family FICO score is currently 711 as reported by FICO.  That is a reasonable number so one would think it's easy to get a lone even if your score is above that number. Well, think again.  Sadly for current single family mortgages backed by Freddie-Mac has the current average FICO score at 751 with a downpayment of 29%. Compare that with 2007 at 707 for FICO and a 23% downpayment.  Numbers like these really illustrate the difficulty in obtaining a mortgage. >> More.

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