Millennials are buying real estate and taking out new mortgages. There is almost-even split between married (51%) and single (49%) buyers. They averaged 29.5 years old and men made up 65% of those listed as the primary borrower. The average loan amount was $181,154 and the average FICO score was 720. Conventional loans remained the top choice of millennials (60%) while FHA made up around a third and VA was just 2%. The time taken to close a mortgage for a millennial buyer was down, with an average of 43 days.
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