If a home loan is denied, first review the denial reason and address specific issues like credit score gaps, income shortfalls, or document gaps. Consider boosting creditworthiness through timely payments, reducing debt, or increasing savings for a larger down payment. Explore alternative loans (e.g., FHA, VA, or non-QM programs) and shop with multiple lenders to find flexible options. If purchasing is not feasible, explore renting the property or delaying the purchase until financial circumstances improve.

Denial often stems from credit score deficiencies, insufficient down payments, or unstable income. For instance, 68% of loan rejections in 2023 were due to credit score issues, with lenders typically requiring a minimum FICO score of 620–680 for conventional loans (Federal Reserve, 2023). A 20% down payment reduces mortgage insurance costs and approval chances, while a 5% down payment may qualify for FHA loans (3.5% down). Data from the Consumer Financial Protection Bureau shows that 45% of rejected applicants lacked sufficient documentation, such as pay stubs or tax returns. Alternative loans like VA loans (no down payment for veterans) or jumbo loans (for high借入 amounts) can bypass conventional barriers. However, non-QM loans, which relax debt-to-income ratios, account for only 5% of originations due to stricter underwriting (Mortgage Bankers Association, 2024). Proactive steps to rectify denial factors and diversify loan options increase approval likelihood, though timing and market conditions also influence outcomes.