Mortgage Qualified

Interest rates have dampened demand for mortgages, but some areas remain prime opportunities for lenders, according to a new study from TransUnion. The study, “Where Will Growth In Mortgage Originations Come From?,”  analyzed the credit-active U.S. population between Q2 2017 and Q1 2022. It flagged consumers with a variety of traits, such as VA eligibility and income status, who withdrew their applications or may have been turned down for a mortgage. The results showed mortgage-qualified consumer segments that have “purchase origination potential.” Of the approximately 121 million low- and moderate-income (LMI) consumers studied, 95% were credit eligible for a mortgage. Buyers should have at least a 620 credit score when applying for a conventional loan. 86% of VA-eligible consumers were…