WOMEN ARE THE PRIMARY BORROWER ON MILLENNIAL MORTGAGES
Within the Millennial generation, women were listed as the primary borrower on more than one-third of closed loans, according to Ellie Mae’s Millennial Tracker.

Out of those 32 percent of closed loans where women were the primary borrower, more than 60 percent are single, and only 38 percent are married, according to the tool. On the other hand, of the loans where men are the primary borrower, just 41 percent are single while 58 percent are married.

Highlights include:

• More Millennials tend toward FHA loans, which make up 37 percent of their closed loans. In the general population, FHA loans make up about 23 percent of total closed loans.
• The average day for Millennials to close got just a little slower, from 43 days in April to 44 days in May.
• The average FICO score among Millennials who closed loans is up from 721 in April to 722. The average FICO score for men was slightly higher than the average score for women at 724 versus 723.
• The average age for women who closed on a loan was 29, while men came in slightly higher at 29.2.