ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
ADVERTISEMENT
Home Mortgage

ABA Survey: Majority of Americans Prefer to Apply for Mortgages In Person

June 21, 2017
Reading Time: 1 min read

The majority of American consumers across all age groups — 60 percent — say they still prefer to apply in person for a mortgage loan rather than online, according to a new study by the American Bankers Association.  Seventeen percent said they would prefer to apply for a mortgage online, while 23 percent were unsure. 

“Banks invest billions of dollars to offer their customers the latest technology,” said ABA EVP Bob Davis. “But at the end of the day, nothing compares to sitting across the table, face-to-face with a banker when you’re making the single most important investment of your life.” While most preferred an in-person application, 61 percent said they consider mobile or online services very important for obtaining a mortgage or making payments.

The survey also explored factors holding consumers back from buying a home. Half of all respondents said that down payment funds and homeownership fees such as property tax and maintenance costs were barriers to homeownership. Just over 20 percent of all respondents said that student debt was a factor. Among consumers aged 18-29 years, that figure was even higher — 39 percent of that particular cohort said that student debt was keeping them from obtaining a mortgage.

Compared to other aspects of the home buying process, consumers say they are least confident in their personal knowledge of the mortgage process; just 34 percent considered their knowledge to be above average or excellent.

ADVERTISEMENT
Tags: Consumer lendingSurveys
ShareTweetPin

Author

Monica C. Meinert

Monica C. Meinert

Monica C. Meinert is a senior editor at the ABA Banking Journal and VP for executive communications at the American Bankers Association.

Related Posts

Banking forward: What is top of mind for 2025? 

ABA survey: Most banks likely to stick with current core provider

Newsbytes
July 2, 2025

While 69% of bankers are "extremely" or "somewhat likely" to remain with their current core provider at the next renewal, when they do pursue core conversions, the primary reason is poor customer service, according to ABA's survey results.

Report: Americans struggling with emergency savings

Study: U.S. retail bank customers’ financial health declines

Newsbytes
July 2, 2025

The overall financial health of U.S. retail bank customers declined in May following two consecutive months of improvement as they confront an uncertain economy and persistently high cost of goods, a J.D. Power survey revealed.

Consumers pay down less credit card debt in Q1 2022

Survey: California, Texas cities lead in credit card delinquencies

Newsbytes
July 2, 2025

With the number of delinquent credit card accounts increasing by well into double-digit percentages in some cities, the personal finance website WalletHub recently released its updated report tracking delinquencies by location in the U.S.

BIS economic report: Prospects for global economy more uncertain

Economy
July 2, 2025

Vulnerabilities in the global economy cited in the report include moves toward greater economic fragmentation and protectionism that “exacerbate the decades-long decline in economic and productivity growth across many economies.”

Existing home sales fell 2.5% in August

HUD rescinds several regulatory requirements for FHA-backed mortgages

Mortgage
July 1, 2025

In a move intended to reduce the cost of homeownership and eliminate unnecessary burden, HUD recently rescinded more than a dozen regulatory requirements in FHA's single-family mortgage insurance program.

Louisiana-based Investar inks deal for Wichita Falls Bancshares in Texas

Louisiana-based Investar inks deal for Wichita Falls Bancshares in Texas

Newsbytes
July 1, 2025

The $2.7 billion-asset Investar will pay $83.6 million in cash and stock for the $1.6 billion-asset Wichita Falls. The deal is expected to close in the fourth quarter.

NEWSBYTES

ABA survey: Most banks likely to stick with current core provider

July 2, 2025

Study: U.S. retail bank customers’ financial health declines

July 2, 2025

Survey: California, Texas cities lead in credit card delinquencies

July 2, 2025

SPONSORED CONTENT

Navigating Disruption in Ag Lending – Why Tariffs Are Just the Tip of the Iceberg

Navigating Disruption in Ag Lending – Why Tariffs Are Just the Tip of the Iceberg

July 1, 2025
AI Compliance and Regulation: What Financial Institutions Need to Know

Unlocking Deposit Growth: How Financial Institutions Can Activate Data for Precision Cross-Sell

June 1, 2025
Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

April 25, 2025
Outsourcing: Getting to Go/No-Go

Outsourcing: Getting to Go/No-Go

April 5, 2025

PODCASTS

Podcast: Inside ABA’s new Treasury Check Verification System API

June 25, 2025

Podcast: Staying close to clients amid tariff-driven volatility

June 18, 2025

Podcast: Old National’s Jim Ryan on the things that really matter

June 12, 2025
ADVERTISEMENT

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2025 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2025 American Bankers Association. All rights reserved.