April 5, 2016

3 Reasons your mortgage refinance was denied

By Marcie Geffner - LendingTree

Many homeowners refinance their mortgage to lower their payment, lock in a fixed rate, shorten or lengthen their payback term or cash out equity. But not everyone can qualify. If you're in that group, there could be several reasons your mortgage refinance was denied. The top three are an appraisal of your home's value, your creditworthiness and your debt-to-income ratio (DTI).

Read more:
https://www.lendingtree.com/refinance/top-reasons-your-mortgage-refinance-was-denied-article