Mortgage Denied? Here's What to Do Next.

Lenders are generally required to tell you why an application was denied. Read the notice carefully, and ask your loan officer to walk you through it if anything is unclear.

If the denial involved your credit report, you're entitled to a free copy of the report the lender used. Check it for errors. Mistakes happen, and correcting them can change the outcome.

Most denials come down to one of a few things:

• Credit: the score or history didn't meet the program's minimum
• Income documentation: the lender couldn't verify enough income the way it requires
• Assets: not enough for the down payment or closing costs
• The property: the home itself didn't meet the program's requirements

Some issues have a clear fix: correcting a report error, paying down a balance, saving more, or choosing a different home. Others, like how your income is documented, may depend more on which program you use.

Every program sets its own guidelines. A home loan that didn't work out isn't the only path, and it's worth checking whether another program's requirements fit your situation better.

Our seller financing program has its own guidelines for eligible buyers: credit scores from 560 are considered, income can be documented with tax returns, 1099s, bank statements, or a P&L, and ITIN buyers are welcome. It can't overcome every reason for a denial: you'll still need a down payment, documented income, and a Texas home you'll live in. Learn more on our denied a mortgage page, or read about buying with a lower credit score or as a self-employed buyer. The full requirements are here.

All financing is subject to qualification, underwriting, property eligibility, and approval.

Check your options in about a minute. If our program isn't a fit yet, the survey tells you exactly what's standing in the way.