New post: When a lender tells you - SO, YOU’VE BEEN TOLD “NO” BY A LENDER.
First off—take a deep breath. I know how frustrating and discouraging it can feel to get that mortgage denial email or call. But here’s the truth: one “no” doesn’t mean your dream of owning a home is over.
As a real estate agent here in , I work with buyers every day who face roadblocks just like this. And time and time again, I’ve seen those roadblocks turn into stepping stones when the right strategy—and the right mortgage professional—is in place.
Let’s break down five of the most common reasons a mortgage might get denied and what you can do to turn that denial into an approval.
1. YOUR CREDIT SCORE IS TOO LOW
THIS IS ONE OF THE MOST COMMON REASONS FOR A DENIAL, BUT IT’S ALSO ONE OF THE EASIEST TO FIX OVER TIME.
✅ QUICK FIXES:
* Request your free credit report at AnnualCreditReport.com [https://www.annualcreditreport.com/]
* Pay off any past-due accounts
* Reduce credit card balances to below 30% of the limit
* Avoid opening new lines of credit during this time
REAL STORY:
Maria came to me with a 580 credit score and felt like she’d never own a home. But after following a simple credit repair plan—paying off her smallest credit card and setting up autopay—she boosted her score by 50 points in just 3 months! I introduced her to a mortgage broker who got her approved shortly after.
2. NOT ENOUGH INCOME?
SOMETIMES, IT’S NOT ABOUT WHAT YOU MAKE—IT’S ABOUT HOW IT’S PRESENTED OR CALC...
