This year’s tougher mortgage underwriting environment is clearly limiting home sales –particularly among first-time homebuyers– a new Inside Mortgage Finance- sponsored study reveals. Down payment and credit score requirements, which are much more stringent than they were a year ago, were cited as among the biggest obstacles facing first-time homebuyers this summer. A somewhat new impediment to both first-time homebuyers and current homeowners in buying a home are appraisal problems, according to the report. The new research is based on a nationwide survey of more than 1,500 real estate agents conducted by Campbell Surveys last month.
For further information on the new study, contact John Campbell at (202) 363-2069 or john@campbellsurveys.com.
