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Perfect Credit & Large Down Payment – Denied Mortgage?

Perfect Credit - Denied Mortgage

Mortgage Application

With interests rates as low as they are, lenders have to be extremely strict with loans.  24% of mortgage applications today are denied.  Banks are looking for homeowners with steady income!

So even if you have a great credit score and put down a large down payment, you may not get the loan if your income stream isn’t flowing.  Don’t give up, have thick skin, and hopefully you can find a lender that will give you a loan!

According to LendingTree, the average rate offered to borrowers right now is about 4.32%.  Only about 9% of LendingTree borrowers are getting loans below 4%.

See more on this at CNN.com’s- The 4% mortgage – good luck getting one

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