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Hi! i applied for purchase mortgage last month. But despite having excellent credit score, my mortgage loan application got refused. I am not understanding why? :confused:




Hi!
Welcome to the forums!
Lenders look at various factors apart from credit score before approving loan application. This includes your income level, debt expenses, your credit report, outstanding credit, etc. I think your loan application has been rejected due to any of these factors.

Sub: #1 posted on Tue, 12/21/2010 - 01:21

Good Nelly Good Nelly
Industry Expert
(Posts: 2825 | Credits: )

Did you ask your mortgage banker for suggestions as to why ? Or what you could do to improve your chances if you try again?

Sub: #2 posted on Tue, 12/21/2010 - 04:23

SOAPLADY SOAPLADY
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(Posts: 17319 | Credits: )


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