Mortgage Broker Company - What If I Am Turned Down For A Mortgage?

What we all dread when trying to buy a home. 

First find out why you were turned down.  Ask for an explanation.  They are required to tell you in writing within a 30 day time period.  Usually the reasons are inadequate down payment, too much debt that you already have, or a poor credit rating.  Just remember these can be corrected over time.

You can also ask them to review your application again or try another lender.  Different lenders operate under different guidelines.  Just remember you may end up paying a higher interest rate. 

Sharon

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