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Mortgages; Mortgage Application | JACK AND JILL AT THE SHORE KELLER WILLIAMS JERSEY SHORE Blog

Saturday, August 11, 2018   /   by Jack W. Zaborowski

5 Mortifying Reasons Mortgage Applications End Up in the 'Reject' Pile By Daniel Bortz | Aug 6, 2018

Picture this nightmare: You apply for a mortgage, but your application gets rejected. Suddenly, you’re hit with an overwhelming wave of embarrassment, shock, and horror. It’s like having your credit card denied at the Shoprite. So. Much. Shame.
Sadly, this is a reality for some home buyers. According to a recent Federal Reserve study, one out of every eight home loan applications (12%) ends in a rejection.
There are a number of reasons mortgage applications get denied‚ and the saddest part is that many could have been avoided quite easily, had only the applicants known certain things were no-nos. So, before you're the next home buyer who gets burned by sheer ignorance, scan this list, and make sure you aren't making any of these five grave mistakes, which could land your mortgage application in the "no" pile.
1. You didn't use credit cards enough
Some people think credit card debt is the kiss of death ... but guess what? It's also a way to establish ...

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  mortgages; mortgage application

JACK AND JILL AT THE SHORE KELLER WILLIAMS JERSEY SHORE
Jack And Jill Zaborowski
1 Atlantic Avenue
Ocean City, NJ 08226
609-602-7140
609-892-0512
Jack and Jill at the Shore

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity program of the Cape May County Multiple Listing Service. Real estate listings held by brokerage are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity program of the South Jersey Shore Regional MLS. Real estate listings held by brokerage are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.