Reasons Why Your Mortgage Application Keeps Getting Denied (VIDEO)
It shouldn’t be a surprise that mortgage lenders are trying to find agood credit historyin a home loan applicant. As with any big purchase, your credit score will affect the approval and mortgage rates if you’re approved. Bad credit ensures banks deny risky financial transactions. Would you lend money to someone who has a known history of not returning borrowed money? If you did, you would want to take additional measures to justify taking the risk. So, if you’re interested in taking out a home loan, now or 20 years from now, start cleaning up your credit history.Make payments on time in addition to improve your credit.