Dave Sutton
Windermere Cronin & Caplan Realty Group, Inc.
Dave Sutton :: Direct: 503-505-9722 :: Email: davesutton@windermere.com :: www.davesuttonhomes.com
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How Many Mortgage Applications are Turned Down?
Posted on June 24, 2011
Of course not every mortgage loan application is approved. According to the Wall Street Journal, the nation's ten largest mortgage lenders denied 26.8% of loan applications last year, up from 23.5% in 2009.
Of course that means that roughly three of every four applications were approved, so don't let that number keep you from applying. Every mortgage broker I work with says people are almost always surprised at how much house they can buy for the payment that works.
If you're renting, you should really take a close look at buying. Good information, along with simple tools to help you make an informed decision are in my earlier blog entry here
The full Wall Street Journal story is here
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