A recent national survey by Experian revealed opportunities for businesses to build relationships with future homebuyers before they’re ready to obtain a loan. Insights include:
- 35% of future buyers said they don’t know what steps to take to qualify for a larger loan
- 75% of future buyers are not preapproved for a home loan
- 29% of those surveyed would purchase a more expensive home if they had better credit and could qualify for a larger loan
A large portion of near-future homebuyers are millennials. Building relationships with this generation now will benefit financial institutions in the future.