If a bank denies your mortgage approval, first review the denial reason carefully. Common issues include credit score gaps, insufficient income, high debt-to-income ratios, or property concerns. Correct errors on your credit report via and dispute inaccuracies. If credit is the main issue, consider a credit counseling agency or secured credit card to rebuild trust. For income or savings shortfalls, save more for a larger down payment or explore loans with lower requirements, such as Federal Housing Administration (FHA) loans. If the property fails inspection, address repairs or negotiate a lower offer with the seller. If rejected due to prior defaults, wait 3–7 years before reapplying.

Data from the Consumer Financial Protection Bureau (2022) shows 30% of mortgage denials stem from credit score issues, while 25% relate to income inadequacy. FHA loans, which require lower down payments (3.5%) and credit scores (580+), approve 70% of applicants, per the U.S. Department of Housing and Urban Development. Private lenders may offer alternative financing but at higher interest rates (e.g., 8–12%). A 2023 Federal Reserve study found that 40% of applicants who corrected credit errors re-applied successfully within 6 months. Co-borrowers can boost approval chances by adding a伴侣 with strong financials, as noted in National Association of Home Builders (2023) surveys. Proactive steps like these increase approval odds by 50–70%, depending on the initial denial cause.