Low mortgage rates continue to push borrowing costs lower this year, but not every consumer is able to qualify. About a quarter of mortgage refinance applications are getting denied, according to a study from LendingTree of more than 10 million mortgage applications.
The top four reasons why applications were denied were debt-to-income ratio, credit history, incomplete application, and insufficient collateral.
Continue…https://magazine.realtor/daily-news/2020/02/10/top-reasons-for-a-mortgage-denial