Being denied for a mortgage can feel discouraging—but it doesn’t have to be the end of your homeownership journey. In fact, many denials come down to simple, fixable issues that can be addressed with the right guidance.
Tom Koon from Midwest BankCentre explains how working closely with an experienced lender can help turn a “no” today into a “yes” tomorrow
Common Reasons for Mortgage Denials
- Credit Score Challenges
- Your credit score plays a major role in mortgage approval.
- If you’re unsure of your current score, Midwest BankCentre can perform a soft credit pull, which won’t affect your credit but gives valuable insight into areas for improvement
- Debt-to-Income Ratio (DTI)
- Your DTI measures how much of your income goes toward expenses like utilities, car payments, and credit cards.
- A high DTI can make approval difficult, but with the right banker, there are creative ways to adjust your financial picture and bring that ratio down.
Your Path to “Yes”
A mortgage denial doesn’t mean you can’t buy a home—it just means there’s more to plan and prepare. With personalized support, clear guidance, and tailored financial strategies, Midwest BankCentre can help you get ready for approval and move toward your dream home. Contact Midwest BankCentre today to start the conversation.