What home buyers don't know can hurt them. Review recent survey findings from Experian to learn how not knowing the impact identity theft can have on their credit harms home seekers. Learn the steps they're taking to help their credit before entering escrow. See how it affects their search process and credit confidence.

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April, 2015
HOME BUYING AND CREDIT:
Survey Report

2. 2 © Copyright 2015 Daniel J Edelman Inc. Intelligent Engagement
WHO HOW MANY ACCURACY WHEN HOW
Home Buyers
(Purchased within
the past year or
plan to purchase
in the next year)
n=500
(250 Recent, 250
Future Home
Buyers)
Margin of Error =
± 4.4%
(± 6.2% for each
audience)
Data Collection
Occurred
April 7-14, 2015
Online Survey
RESEARCH OBJECTIVE:
To garner media-genic research around home buyers’ attitudes toward credit scores, financial
responsibility and the purchase process
Research Methodology

3. 3 © Copyright 2015 Daniel J Edelman Inc. Intelligent Engagement
Key Findings
Buyers
understand the
importance of
one’s credit
score when
purchasing a
home, and many
future buyers are
concerned about
their own credit
status.
More than two in
five future
buyers are
worried that they
will not qualify
for the best
home loan rate
and have
delayed
purchasing to
improve their
credit.
Just half of
recent buyers
report checking
their credit as
soon as they
considered
purchasing a
home.
Home buyers are
less informed
about the impact
of identity fraud
and the
importance of
one’s credit
score when
refinancing
home.

4. OVERALL RESULTS

5. 5 © Copyright 2015 Daniel J Edelman Inc. Intelligent Engagement
Q7: To what extent do you agree or disagree with the following statements? (Shown: Top 2 Box, Agree)
Q9: In your opinion, how important is one’s credit score in purchasing a home? (Shown: Top 2 Box, Important)
Most know how credit affects home buying but
just half are actively working to improve their
scores
95%
Say that one’s credit
score is important in
purchasing a home
55%
Are working to
improve their credit
to qualify for a
better home loan
rate
Credit Impact on
HOME BUYING
Working to
IMPROVE CREDIT
95% FOR
BOTH FUTURE
AND RECENT
BUYERS

6. 6 © Copyright 2015 Daniel J Edelman Inc. Intelligent Engagement
37% 38%
70%
48% 47%
54%
I was / am worried my credit status might
hurt my ability to purchase a home
I am concerned that my credit score
doesn’t qualify for the best home loan
rate
I felt / feel prepared financially to
purchase a home
Impact of Knowing Credit Score on Home Buyer Perceptions
Know Credit Score Do Not Know Credit Score
Those who know their credit scores feel more
confident about the home buying process
Q7: To what extent do you agree or disagree with the following statements? (Shown: Top 2 Box, Agree; Shown among
those who know their credit score, n=388 and those who do not n=112)

7. 7 © Copyright 2015 Daniel J Edelman Inc. Intelligent Engagement
Q7: To what extent do you agree or disagree with the following statements? (Shown: Top 2 Box, Agree)
Q9: In your opinion, how important is one’s credit score in purchasing a home? (Shown: Top 2 Box, Important)
Fewer are aware of their credit’s impact on
refinancing though many have recently
refinanced or plan to
62%
Agree their credit
score affects the
interest rate to
refinance a home
22%
Have refinanced in
the past year or
plan to in the year
ahead
Credit Impact on
REFINANCING
Recent / Planned
REFINANCING
29% FOR
RECENT
BUYERS

8. FUTURE HOME
BUYERS’ EXPERIENCE

9. 9 © Copyright 2015 Daniel J Edelman Inc. Intelligent Engagement
Q7: To what extent do you agree or disagree with the following statements? (Shown: Top 2 Box, Agree; Among future
buyers)
Many future home buyers are concerned about
their credit status and its impact on their
purchase ability
60% of
FUTURE BUYERS
feel financially
prepared to buy a
home
40% of
FUTURE BUYERS
say their credit will
hurt their ability to
purchase a home
62% of
FUTURE BUYERS
are confident about
their credit status
Future Buyer
CREDIT CONFIDENCE
Future Buyer
PREPAREDNESS
Future Buyer
CREDIT CONCERNS

10. 10 © Copyright 2015 Daniel J Edelman Inc. Intelligent Engagement
Q7: To what extent do you agree or disagree with the following statements? (Shown: Top 2 Box, Agree; Among future
buyers)
Q8: Which of the following activities are you MOST focused on to improve your credit? (Shown: Top 2 choices among future
buyers working to improve their credit, n=166)
55%
54%
28%
20%
16%
Paying off debt
Paying bills on time
Keeping balances low on
credit cards
Protecting credit info from
fraud and identity theft
Not applying for / opening new
credit accounts
Future Buyer Credit Building
Activities
(Shown: Top 2 Choices Among Future Buyers)
58% of FUTURE
BUYERS are
working to improve
their credit to
qualify for a better
home loan rate,
but
35% of FUTURE
BUYERS say they
do not know what
steps to take to
qualify for a larger
loan
Some address these concerns by building their
credit, but a third of future buyers do not know
how to start

11. 11 © Copyright 2015 Daniel J Edelman Inc. Intelligent Engagement
Q6: Have you already been pre-approved for a loan for your next home purchase? (Shown: Among future buyers)
Q7: To what extent do you agree or disagree with the following statements? (Shown: Top 2 Box, Agree; Among future
buyers)
Future buyers are particularly anxious about
getting a good home loan rate and most are
not pre-approved
Future Buyer
LOAN PRE-APPROVAL
Future Buyer
PURCHASE DELAY
Future Buyer
LOAN RATE CONCERNS
41% of
FUTURE BUYERS
are concerned their
credit score doesn’t
qualify for the best
home loan rate
45% of
FUTURE BUYERS
delayed a purchase
to improve their
credit to get better
interest rates
67%
Not Pre-
approved

12. RECENT HOME
BUYERS’ EXPERIENCE

13. 13 © Copyright 2015 Daniel J Edelman Inc. Intelligent Engagement
Q11: Did you, yourself, check your credit report or credit score at any point in the home buying process? (Shown: Among recent buyers)
Q13: You mentioned that you checked your credit report or credit score in the process of purchasing a home. Which of the following, if
any, applied to you? (Shown: Among recent buyers who checked their credit score in the process of purchasing a home, n=192)
Just half of recent buyers checked their credit
early on, and many were surprised by
something in their report
43%
30%
21%
14%
My credit score was higher than I
expected
I was surprised by my credit
score
My credit score was lower than I
expected
There was something negative
on my credit report I didn't know
about
NET 31%
found
something
negative
when they
checked
their credit
report
51%
26%
23%
When first considered purchasing
Later
Never
Recent Buyer
CREDIT CHECKING
Recent Buyer
CREDIT REACTIONS
NET 77%
checked
their credit

14. 14 © Copyright 2015 Daniel J Edelman Inc. Intelligent Engagement
75% 74%
66%
58%
72%
61%
54%
47%
Difficulty securing a loan Difficulty getting a good
interest rate
Difficulty getting a loan large
enough to suit one's needs
Requiring a co-signer
Recent Home Buyer Impact Perceptions
Poor Credit Identity Fraud
Q10: In which of the following ways do you think having a poor credit status could affect a potential home buyer? (Shown: Among
recent buyers)
Q14: In which of the following ways do you think a victim of identify fraud could be affected when buying a home? (Shown: Among
recent buyers)
Recent buyers recognize the impact of poor
credit, but fewer understand the effects of
identity fraud
-13
-12
-11
Difficulty securing a loan Difficulty getting a good
interest rate
Difficulty getting a loan large
enough to suit one's needs
Requiring a co-signer

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