{"id":354443,"date":"2016-02-17T08:00:08","date_gmt":"2016-02-17T15:00:08","guid":{"rendered":"https:\/\/www.creditrepair.com\/blog\/?p=354443"},"modified":"2022-03-30T20:57:42","modified_gmt":"2022-03-31T02:57:42","slug":"expanding-the-credit-box-for-worthy-consumers","status":"publish","type":"post","link":"https:\/\/www.creditrepair.com\/blog\/mortgage-and-housing-information\/expanding-the-credit-box-for-worthy-consumers\/","title":{"rendered":"Expanding the \u201cCredit Box\u201d for Worthy Consumers"},"content":{"rendered":"

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Mortgage lenders and policymakers are taking a fresh look at home-buying standards. In an effort to stimulate the economy, banks and legislators are considering \u201copening the credit box\u201d to applicants who would normally be excluded from the process. Millennials with little-to-no credit history and consumers with lower-than-average credit scores stand to benefit from easing standard requirements. According to data collected by Ellie Mae<\/a>, a mortgage compliance and analysis firm, the average score associated with closed home loans was 754 last December, a single point lower than scores accepted in December 2014.<\/p>\n

While the powers-that-be claim progress to include the disenfranchised, data linked to opening the credit box tells another story. Regardless of whether regulations change, there are plenty of ways to pursue homeownership in the meantime:<\/p>\n