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Loan Denied? Reasons Why The Banks Say “No”

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Banks evaluate loan applications based on various factors to determine the borrower’s creditworthiness and ability to repay the loan. The bank might reject the application if any of these factors raise concerns. A Closer Look at Approval Rates Although banks profit from lending, they also prioritize risk management. Typically, around 8% of mortgage applications face … Continued

Mortgage Denied? Here’s How to Get Approved Next Time

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Don’t panic! If your mortgage application was denied, there are steps you can take to improve your chances of approval in the future. 1. Talk to Your Lender 2. Establish Credit History 3. Check for Errors in Your Credit Report 4. Pay Down and Diversify Debt 5. Keep Accounts Open 6. Increase Your Credit Limits 7. … Continued