New Data Identifies the Average Millennial Mortgage Borrower

It’s pretty clear that millennials are becoming the largest group of homebuyers on the market. And though no two millennials are identical or have the same financial situation, it’s a good idea to understand the millennial homebuyer.
And now, we have the data to do just that.
So what does the average millennial homebuyer look like? According to data from Ellie Mae, the average millennial aged homebuyer is just under 30, taking out a loan for slightly less than $200,000, and has a credit score in the mid-700s.
Fortunately, Skyline has a platform that millennials could get behind, focusing on efficiency, clarity, and closing loans quickly, making them more competitive in today’s tight purchase market.

Read the source article at National Mortgage Professional Magazine