6 Reasons Your Home Loan Application Was Rejected – Finance – realtor.com
It’s disappointing to learn that your application for a home loan has been rejected. But you have a right to know why: Sometimes the reasons given for rejecting loans are logical, and other times they may seem unfair.
Remember, you don’t have to take “no” for an answer. If your loan application is rejected, don’t let your disappointment prevent you from shopping around.
Lending is a competitive business, and some companies are more flexible than others. Credit unions and community banks may take more time to analyze your particular situation.
Here are some common reasons for loan rejections and possible solutions.