When applying for a mortgage, there are a variety of factors that can cause a lender to decline your application. One of the most common reasons is an issue with your debt-to-income ratio. If a lender determines that your total monthly debt obligations, including any outstanding loans or credit card balances, are too high to comfortably accommodate the addition of a mortgage payment, they may decline your application. Additionally, if you have a history of missed payments or have recently opened multiple lines of credit, this could also impact your eligibility for a mortgage. Other factors that may cause a lender to decline your application include a low credit score, insufficient income, or a lack of collateral.
High debt-to-income ratio
Missed payments or recent credit activity
Low credit score
Insufficient income
Lack of collateral
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