More Than Six in 10 Millennials Lack a Prime Homebuying Credit Score

 

  • Sixty-one percent of millennials without mortgages have credit scores lower than 661.
  • Millennials with mortgages have average credit scores of 716.
  • While one survey puts the number of millennials who think homeownership is a good investment at more than 80 percent, another poll says that less than half of that generation express the same sentiment.

Besides student debt, rising home prices, and higher mortgage rates, most millennials also face the challenge of improving their credit scores to enter the housing market.

An Experian study found that just 39 percent of millennials without a mortgage have what is considered a prime credit score of 661 or higher. Millennials under age 28 and younger have average credit scores of 652, while millennials age 29 and older are in the prime range, at 665. Read more on the @bethanywpatten

#CreditScore #Millennials #Investment #Homebuying #homeownership #blogging #realestate #realestateagent #PacUnion #PacificUnion #bethanywpatten #loveyourhome

 

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