Economists and housing experts have long been touting how difficult it is to get approved for a mortgage nowadays, as banks have tightened up their underwriting standards. 

So what is the average approved applicant coming to the table with? 

Ellie Mae recently released data showing what it took to get a mortgage in 2012. Sixty-two percent of applicants last year were for refinancing and 38 percent were for loans to purchase a home. Applicants, on average, received an interest rate of 3.90 percent. 

Among Ellie Mae’s findings:

• Average time to close on the loan: 48 days
• Average down payment: 21 percent
• Average credit score: 748*
• Debt to income: house payment averaged 23 percent and total debt 34 percent

*About 37 percent of 200 million Americans have credit scores of 748 or higher.

Source: Housing Wire