To check if a home purchase qualification is approved, first review the mortgage pre-approval letter from your lender, which outlines loan terms and approval status. Next, contact the lender directly to request an underwriting decision summary, which details specific reasons for approval or denial. For denied applications, the lender must provide a written explanation per federal regulations. Additionally, log into your mortgage account online to access real-time updates or request a status report. If uncertain, schedule a follow-up with the underwriter to clarify any discrepancies.

The process ensures compliance with federal housing standards and lender-specific criteria. For example, the Consumer Financial Protection Bureau (CFPB) reports that 20% of mortgage applications were denied in 2022 due to insufficient income or credit score issues. Lenders typically require a minimum FICO score of 620-680, with 43% of approvals falling between 640-680 according to the Federal Housing Finance Agency (FHFA). Income requirements often mandate a debt-to-income ratio below 43%, and down payments averaging 20% for conforming loans, though options like FHA loans (3.5% down) or VA loans (0% down) exist. Data from the U.S. Census Bureau shows 68% of first-time buyers used a mortgage, highlighting the importance of pre-approval to streamline home searches and secure favorable rates. Denial reasons frequently include low credit scores (35%), insufficient income (28%), and high debt levels (22%), per 2023 CFPB statistics. Proactive verification of these factors ensures alignment with qualification thresholds and minimizes delays in closing.