Many Declined Loans Eligible for Homebuyer Assistance

Down Payment Resource, which connects aspiring buyers to down payment assistance programs across the country, released a study showing that 33% of all declined purchase mortgage loan applications declined for either insufficient cash-to-close or disqualifying DTI ratios are also eligible for homebuyer assistance at the time of declination.

There are many down payment programs locally (and nationally) that could help your buying clients get approved for a loan. Next time you have a client that could use some down payment help, take a few minutes to see if they’re eligible for an assistance program. Click on the “DPR (Down Payment Resource)” link in the External links box here

Click Here to Check Out the Study