Common Reasons Why a Mortgage Loan is Denied

1
Common Reasons Why a Mortgage Loan is Denied
2

• Insufficient down payment

1

• Small down payment lowers the chance of mortgage
  loan approval.

3

• Recent employment switch

2

• Frequent job changes and lack of steady income
  increases the possibility of mortgage loan
  denial.

4

• High debt-to-income ratio

3

• A debt-to-income ratio of more than 50 increases
  the chance of mortgage loan denial.

5

• Poor credit score

4

• Mortgage loan approval is easy when you have a
  high credit score.

6

• Lack of credit history

5

• If you have little or no credit history, the
  lender can deny your loan application.

7

• Inaccurate tax filing

6

• File a revised return to get your mortgage loan
  approved.

8

• Debt in business

7

• A high debt burden in business lowers the chance
  of mortgage loan approval.

9

• To get your mortgage loan approved quickly,
  review your mortgage loan rejection letter and
  work on the weak factors.

6
10
Thank You !
Would Love to hear from you.
Hero Fincorp Limited
09, Basant Lok, Vasant Vihar, New Delhi -
110057
Tel [phone]
Email corporate_at_herofincorp.com
Website https//www.herofincorp.com/
Know More https//www.herofincorp.com/blog/commo
n-reasons-why-a-mortgage-loan-is-denied