Skip to content


Previous article
Now Reading:
Mortgage Refinancing: Avoid These Common Rejection Pitfalls

Mortgage Refinancing: Avoid These Common Rejection Pitfalls

Mortgage refinancing applications may be rejected for several reasons, such as a high debt-to-income ratio, low credit score, low home appraisal, insufficient home equity, or an unstable employment history. Understanding the reasons for rejection is crucial, as lenders must provide explanations for denied applications. Applicants can improve their chances by addressing these issues—like improving credit scores, increasing home equity, or stabilizing employment—before reapplying. Shopping around for more flexible lenders, such as Rocket Mortgage or Ally Bank, can also be beneficial. Additionally, there are ways to lower mortgage payments without refinancing, like recasting the mortgage, canceling mortgage insurance, or seeking a loan modification. The article emphasizes the importance of understanding refinancing criteria and provides tips for those who have faced rejection.

Read the full article here.



Your cart is currently empty.

Start Shopping

Select options