Don’t Let a Bank Decline Keep You from Your Dream Home
Being declined for a mortgage by a bank can be a frustrating and disheartening experience. Whether it’s due to credit issues, lack of income, or other factors, it can be difficult to know where to turn for help.
Mortgage Suite understands that not everyone’s financial situation is the same, and we specialize in helping those who have been declined for a mortgage by a bank. We communicate your decline when it happens, but also line up other alternative solutions for you as well. We work with a wide range of lenders, including banks, credit unions, and private investors, to help you find the best rates and terms.
Some of the reasons why a person may be declined a mortgage by a bank include:
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Credit score: Banks typically look for a high credit score when approving a mortgage. If your credit score is low, you may be declined. Learn more about mortgage credit scores here.
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Income: Banks will also look at your income and employment history to determine if you can afford the mortgage payments. If you don’t have a stable income or employment history, you may be declined. Learn more about mortgage income here.
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Debt-to-income ratio: Banks also look at your debt-to-income ratio, which compares your total debt to your total income. If your debt is too high, you may be declined. Calculate your debt-to-income ratio here.
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Property condition: Banks may decline a mortgage if the property is in poor condition and requires extensive repairs.
At Mortgage Suite, we have the expertise to help you navigate these challenges and find a mortgage solution that fits your needs. Our team of licensed mortgage professionals can guide you through the process and help you understand the different options available to you.
Some of the benefits of working with Mortgage Suite include:
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Alternative financing options: We can help you find alternative financing options, such as non-conventional loans, that may be more suited to your unique situation. Learn more about alternative mortgage solutions here.
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Credit repair assistance: We can provide credit repair assistance and advice to help you improve your credit score and increase your chances of being approved for a mortgage. Learn more about how to build and fix your credit score here.
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Fast and easy process: Our streamlined application process makes it easy to get started on your mortgage journey.
At Mortgage Suite, we are dedicated to helping our clients achieve their home ownership goals, even if they’ve been declined for a mortgage by a bank. Contact us today to learn more about how we can help you.
