Consumers need more education on how to better manage their credit as they prepare to buy a home, according to findings from a national survey by Experian. The survey, among individuals who are recent home buyers or are planning to purchase a home, showed that consumers understand having a good credit profile is key to making their homebuying dream come true but it is one of the reasons they say they are denied a loan.

1. 1
EDELMAN
Experian Home Buying
Survey Report
March 2016

2. 2 Intelligent Engagement© Copyright 2016 Daniel J Edelman Inc.
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
February 19-24,
2016
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 Intelligent Engagement© Copyright 2016 Daniel J Edelman Inc.
Key Findings
Home buyers
appreciate the
importance of
credit, and they
consider it a
“valuable tool”
rather than a
“necessary evil”
for major
purchases.
One in five
homebuyers is
likely to “opt
out” of home
ownership in the
next 5-10 years,
driven by a
desire for more
flexibility or to
carry less debt.
First-time future
home buyers are
especially
worried about
their credit, but
many do not
know what steps
they can take to
qualify for a
better home
loan.
Recent home
buyers are more
aware of the
value of credit –
and monitor
their credit more
often – after
going through
the home buying
process.

4. OVERALL RESULTS

5. 5 Intelligent Engagement© Copyright 2016 Daniel J Edelman Inc.
Q7: To what extent do you agree or disagree with the following statements? (Shown: Top 2 Box, Agree)
Q7a: Which of the following statements comes closest to your opinion... Credit is a VALUABLE TOOL or a NECESSARY EVIL for making
major purchases
Q8: In your opinion, how important is one’s credit score in purchasing a home? (Shown: Top 2 Box, Important)
Buyers recognize that credit plays a critical
role in purchasing a home and qualifying for
home loans
93%
Say that one’s credit
score is important in
purchasing a home
74%
See credit as a
“valuable tool,” not
a “necessary evil”
for making major
purchases
48%
Are working to
improve their credit
to qualify for a
better home loan
rate
See Credit as a
VALUABLE TOOL
Working to
IMPROVE CREDIT
54% of
FUTURE
BUYERS
Credit Impact on
HOME BUYING
90% Men vs.
95% Women

6. 6 Intelligent Engagement© Copyright 2016 Daniel J Edelman Inc.
Q13b: Have you ever been denied for a home loan for any of the following reasons?
Q13c: Has your credit score ever negatively impacted your ability to get a home loan?
16%
12%
10%
10%
7%
5%
5%
4%
4%
3%
Poor credit history
Outstanding debt
Limited credit history
Insufficient income
Insufficient assets
Employment issues
Unable to verify income
A spouse’s poor credit history
A spouse’s limited credit…
Unable to verify assets
Reasons for Being Denied a Home
Loan
Poor credit history is the top reason why home
buyers report getting denied for a home loan
19% SAY THAT
THEIR OWN CREDIT SCORE
has negatively impacted their
ability to get a home loan
8% SAY THAT
A SPOUSE’S CREDIT SCORE
has negatively impacted their
ability to get a home loan
15% Ages 18-34
8% Ages 18-34
9% Men

7. 7 Intelligent Engagement© Copyright 2016 Daniel J Edelman Inc.
39% 40%
61%
41%
26%
73%
24%
17%
72%
I have delayed purchasing a home so
that I could qualify for a loan that better
meets my needs
I would purchase a more expensive
home if I had better credit and could
qualify for a larger loan
I felt / feel prepared financially to
purchase a home
Home Buyer Perceptions by Age
Ages 18-34 Ages 35-54 Ages 55+
Younger home buyers’ purchasing is more
limited by the types of loans that they are able
to qualify for
Q7: To what extent do you agree or disagree with the following statements? (Shown: Top 2 Box, Agree)

8. 8 Intelligent Engagement© Copyright 2016 Daniel J Edelman Inc.
34% 32%
72%
43% 47% 50%
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
Knowing one’s credit score remains important
to building confidence during 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=70)

9. 9 Intelligent Engagement© Copyright 2016 Daniel J Edelman Inc.
Q4: Within the past year, have you passed any of the following life milestones? (Shown: Among Total, n=500)
Q5: And in the next 12 months, do you plan to pass any of the following life milestones? (Shown: Among Total, n=500))
Buyers also recognize the impact of credit when
refinancing a home
65%
Agree their credit
score affects the
interest rate to
refinance a home
16%
Have refinanced in
the past year or
plan to in the year
ahead
Credit Impact on
REFINANCING
Recent / Planned
REFINANCING
21% of
RECENT
BUYERS
60% 1st Time Buyer vs.
71% Experienced Buyer

10. 10 Intelligent Engagement© Copyright 2016 Daniel J Edelman Inc.
Q14c. How likely are you to opt-out of home ownership in the next 5-10 years?
Q14d: Which, if any, of the following reasons describe why you might opt-out of home ownership in the next 5-10 years? (Shown: Among
those likely to opt out, n=97)
Some are already considering opting out of
home ownership for more flexibility and to carry
less debt
49%
36%
35%
26%
Want more flexibility to
relocate
Do not want to carry as much
debt
Want to invest in something
else
Do not want the responsibility
of maintaining a home
Reasons to Opt-Out of
Homeownership
(Shown: Among those likely to opt-out in 5-10
years)19% of ALL HOME BUYERS
are likely to choose not to own
a home in the next 5-10 years
Opting Out of
HOME OWNERSHIP
24%
Ages
18-34

11. FUTURE HOME
BUYERS’ EXPERIENCE

12. 12 Intelligent Engagement© Copyright 2016 Daniel J Edelman Inc.
Q7: To what extent do you agree or disagree with the following statements? (Shown: Top 2 Box, Agree; Among future
buyers, n=250)
Future first-time buyers are especially concerned
about their credit and its impact on their
purchase ability
59% of
FUTURE BUYERS
feel financially
prepared to buy a
home
34% of
FUTURE BUYERS
say their credit
might hurt their
ability to purchase a
home
59% of
FUTURE BUYERS
are confident about
their credit status
Future Buyer
CREDIT CONFIDENCE
Future Buyer
PREPAREDNESS
Future Buyer
CREDIT CONCERNS
51% 1st Time Buyer vs.
68% Experienced Buyer
50% 1st Time Buyer vs.
69% Experienced Buyer
41% 1st Time Buyer vs.
26% Experienced Buyer

13. 13 Intelligent Engagement© Copyright 2016 Daniel J Edelman Inc.
Q7: To what extent do you agree or disagree with the following statements? (Shown: Top 2 Box, Agree; Among future buyers,
n=250)
Q8: Which of the following activities are you MOST focused on to improve your credit? (Shown: Among those working to
improve their credit, n=238)
68%
60%
28%
15%
11%
Paying bills on time
Paying off debt
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 those working
to improve their Credit)
54% 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 future buyers are working to build their
credit, but many first-time buyers do not know
how to start
43% 1st Time Buyer vs.
26% Experienced Buyer

14. 14 Intelligent Engagement© Copyright 2016 Daniel J Edelman Inc.
Q6: Have you already been pre-approved for a loan for your next home purchase? (Shown: Among future buyers, n=250)
Q7: To what extent do you agree or disagree with the following statements? (Shown: Top 2 Box, Agree; Among future
buyers, n=250)
Many future buyers have delayed a purchase
to improve their credit, and most are not pre-
approved
Future Buyer
LOAN PRE-APPROVAL
Future Buyer
PURCHASE DELAY
Future Buyer
LOAN RATE CONCERNS
38% 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
76%
Not Pre-
approved
55% 1st Time Buyer vs.
31% Experienced Buyer
49% 1st Time Buyer vs.
27% Experienced Buyer

15. RECENT HOME
BUYERS’ EXPERIENCE

16. 16 Intelligent Engagement© Copyright 2016 Daniel J Edelman Inc.
54%
My credit score
was HIGHER
than I expected
58%
I felt MORE
CONFIDENT in my
understanding of the
kind of loan I was
eligible for
18%
My credit score
was LOWER
than I expected
25%
I was SURPRISED by
my credit score
Q10: Did you, yourself, check your credit report or credit score at any point in the home buying process? (Asked of recent buyers, n=250)
Q12: 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=197)
Q13A: After learning your credit score, were you more or less confident in your understanding of what kind of home loan you would be eligible for?
(Shown: Among recent buyers who checked their credit score in the process of purchasing a home, n=197)
Recent home buyers that checked their credit
score felt more confident after doing so
Recent Buyer
CREDIT CHECKING Credit Reactions
(Shown: Among those that checked their credit)
51%
28%21%
When first considered purchasing
Later
Never
NET 79%
of RECENT
BUYERS
checked their
credit
37%
Ages 55+

17. 17 Intelligent Engagement© Copyright 2016 Daniel J Edelman Inc.
Q13d: After purchasing a home, do you consider access to credit to be more valuable or less valuable than you did before you had
purchased a home? (Asked of recent home buyers, n=250)
Q13e: And how, if at all, has purchasing a home affected how you use credit? (Asked of recent home buyers n=250)
After purchasing, homeowners become more
cognizant of their credit
38%
29%
24%
16%
16%
I monitor my credit more often
I am wary of taking on more debt
I use credit cards less often
I use fewer credit cards /
cancelled a credit card
I enrolled in a credit monitoring
service
NET 72%
HOME BUYING
HAS HAD AN
IMPACT ON
CREDIT USAGE
BEHAVIORS
_____________
NET 81%
AGES 18-34
Recent Buyer
IMPACT ON CREDIT PERCEPTIONS
Recent Buyer
IMPACT ON CREDIT BEHAVIORS
60%
36%
4%
More valuable No impact Less valuable

18. 18 Intelligent Engagement© Copyright 2016 Daniel J Edelman Inc.
76%
82%
72% 68%
73%
62%
56% 54%
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
Q9: In which of the following ways do you think having a poor credit status could affect a potential home buyer? (Shown: Among recent
buyers, n=250)
Q13: 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, n=250)
Recent buyers recognize the impact of poor
credit, but fewer understand the effects of
identity fraud
-20
-16 -14
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

19. APPENDIX

20. 20 Intelligent Engagement© Copyright 2016 Daniel J Edelman Inc.
Category Subcategory %
Home
Purchase
Future Buyer 50%
Recent Buyer 50%
Gender
Male 43%
Female 57%
Age
18-34 41%
35-54 34%
55+ 25%
Region
Northeast 27%
South 27%
West 20%
Midwest 26%
Race / Ethnicity
White 81%
African American 6%
Hispanic 6%
Asian American 4%
Other 3%
Category Subcategory %
Know Credit Score
Yes 78%
No 14%
Unsure 8%
Credit Score
Exceptional 21%
Very Good 31%
Good 18%
Average 17%
Poor 12%
Education
HS or less 14%
Some college 31%
College graduate 37%
Graduate school 17%
Household Income
<$25K 10%
$25K-<$50K 26%
$50K-<$75K 29%
$75K-<$100K 15%
$100K+ 17%
Demographics
Respondent Demographics
Totals may not add up to 100 due to rounding

21. Thank you