Potential Buyers Shying Away from Homeownership Due to Lack of Understanding

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A recent Wells Fargo survey has uncovered an unfortunate truth in the real estate world.

According to the findings, which the mortgage giant compiled in June, many potential buyers are hesitant to get the ball rolling on homeownership because they either are unsure of whether they qualify for a mortgage, or because they are simply unsure of how the whole process works.

“Ninety-five percent of survey respondents said they want to own a home if they don’t already,” said Franklin Codel, head of the Wells Fargo Home Mortgage production. “Informing prospective homebuyers about their options is the first step toward helping them realize their goals.”

Image via flickr/Sean Dreilinger

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