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Buying a Home and Committing to a Mortgage can be very scary. A home mortgage loan is the largest debt that most Americans will take on in their ...

Mortgage Denial Rates Have Declined Over the Past Seven Years

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Editor’s note: This is the first in a two-part series. This article explains how the overall rate of mortgage loan denial in the U.S. has declined steadily in recent years. Part two examines the leading cause of rejection, which is the debt-to-income ratio.

There’s some good news on the mortgage front. A recent industry report showed that the rate of mortgage loan denials has dropped steadily over the last seven years or so.

That means a higher percentage of mortgage applicants are being approved for financing these days. It’s the latest sign of a general easing trend within the lending industry.

Mortgage Loan Denials Have Declined Steadily

Earlier this month, the property information company CoreLogic published a detailed report on mortgage denial rates in the U.S. The overall percentage or rate of mortgage denials nationwide dropped steadily from 2010 to 2017.

The rejection rate peaked at nearly 19% during 2007. That was back when the housing market and mortgage industry was starting its meltdown, and lenders were drawing back. The denial rate would eventually drop to 10% ten years later, in 2017.

A year after Irma Clay County family still in fight with bank and insurance companies to rebuild

Carole Gardner knows first hand. She said the red tape is beyond belief.

September 11, 2017, rising waters from Hurricane Irma forced the family from her Clay County home.

"We've been living with our father since then," she said, 'It has been pretty devastating, heartbreaking."

The flood damage was such that their home was declared a total loss; they would have to rebuild the place they're called home for 18 years.

"This is totally new construction. The home had to be torn down, it had to be elevated up," said Gardner.

It is being elevated seven feet. But the rebuilding process has been slow because for the past year it has been a fight every step of the way.

"It has been a fight from day one starting with our State Farm Agent and then having to fight with FEMA and flood," she said.

She said that after her experience it is clear to her that the process does not help the consumer.

"We were paying the premiums but we still were not protected when it comes down to it all," she said.

Whats the total mortgage payment for a 105k home?

I want to know what would be a mortgage payment with everything included like taxes and etc. for a 105k home. I am looking to buy my first home and my credit score is 730. Our total take home money a month is $3600.


What is the term of the loan and what is the interest rate.