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2019-10-21 20:27:07

The 15 US cities where it's hardest to get a mortgage, ranked

Mortgage denials are at their lowest rate since at least 2004. But in some places, it's still difficult to get approved.Getty Images

LendingTree released an analysis ranking the US cities where applicants are most likely to be denied a mortgage.  

Of the top 15 cities where it's hardest to get a mortgage, four are in Florida. Cities in California, Texas, and Michigan also made the list.

LendingTree analyzed data from more than 10 million mortgage applications using Home Mortgage Disclosure Act data for 2018, the most recent available year.

The most common reason for an applicant to be denied was their debt-to-income ratio, followed by credit history, the study found. The analysis also found evidence of racial discrepancies: African-American borrowers had the highest mortgage denial rates at 17.4%, while non-Hispanic whites had the lowest at 7.9%.

Overall, mortgage denials are at their lowest rate since at least 2004, according to LendingTree. At the national level, 9.8% of loan applications were denied in 2018 — nearly 1 in 10 would-be borrowers.

Here are the 15 American cities where applicants are most likely to be denied a mortgage, ranked.

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The 15 US cities where it's hardest to get a mortgage, rankedThe 15 US cities where it's hardest to get a mortgage, ranked

LendingTree has released an analysis ranking...

The 15 US cities where it's hardest to get a mortgage, ranked

Features,Real Estate,Buying A Home,Mortgage,Florida,Miami,Atlanta,Los Angeles,BI Select,Arts & Culture

The 15 US cities where it's hardest to get a mortgage, ranked

2019-10-21T19:39:00+02:00

2019-10-21T15:48:59+02:00

2019-10-21T19:40:01+02:00

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LendingTree has released an analysis ranking the US cities where applicants are most likely to be denied a mortgage. Of the top 15 cities where borrowers are most likely to be denied, four are in Florida. The hardest city to get approved for a mortgage is Miami, where 11.6% of applicants are rejected. The most common reason for an applicant to be denied is their debt-to-income ratio, followed by credit history. Despite this, mortgage denials across the board are at their lowest rate since at least 2004.  Visit Business Insider's homepage for more stories. LendingTree released an analysis ranking the US cities where applicants are most likely to be denied a mortgage.   Of the top 15 cities where it's hardest to get a mortgage, four are in Florida. Cities in California, Texas, and Michigan also made the list. LendingTree analyzed data from more than 10 million mortgage applications using Home Mortgage Disclosure Act data for 2018, the most recent available year. The most common reason for an applicant to be denied was their debt-to-income ratio, followed by credit history, the study found. The analysis also found evidence of racial discrepancies: African-American borrowers had the highest mortgage denial rates at 17.4%, while non-Hispanic whites had the lowest at 7.9%. Overall, mortgage denials are at their lowest rate since at least 2004, according to LendingTree. At the national level, 9.8% of loan applications were denied in 2018 — nearly 1 in 10 would-be borrowers. Here are the 15 American cities where applicants are most likely to be denied a mortgage, ranked.

international

The 15 US cities where it's hardest to get a mortgage, rankedThe 15 US cities where it's hardest to get a mortgage, ranked

LendingTree has released an analysis ranking...

The 15 US cities where it's hardest to get a mortgage, ranked

Features,Real Estate,Buying A Home,Mortgage,Florida,Miami,Atlanta,Los Angeles,BI Select,Arts & Culture

The 15 US cities where it's hardest to get a mortgage, ranked

2019-10-21T19:39:00+02:00

2019-10-21T19:40:01+02:00

https://static1.businessinsider.de/image/5dadefd7695b581e5f145b58-500-250/the-15-us-cities-where-its-hardest-to-get-a-mortgage-ranked.jpg

BusinessInsiderDe

https://www.businessinsider.de/assets/images/logos/og-image-logo.png

LendingTree has released an analysis ranking the US cities where applicants are most likely to be denied a mortgage. Of the top 15 cities where borrowers are most likely to be denied, four are in Florida. The hardest city to get approved for a mortgage is Miami, where 11.6% of applicants are rejected. The most common reason for an applicant to be denied is their debt-to-income ratio, followed by credit history. Despite this, mortgage denials across the board are at their lowest rate since at least 2004.  Visit Business Insider's homepage for more stories. LendingTree released an analysis ranking the US cities where applicants are most likely to be denied a mortgage.   Of the top 15 cities where it's hardest to get a mortgage, four are in Florida. Cities in California, Texas, and Michigan also made the list. LendingTree analyzed data from more than 10 million mortgage applications using Home Mortgage Disclosure Act data for 2018, the most recent available year. The most common reason for an applicant to be denied was their debt-to-income ratio, followed by credit history, the study found. The analysis also found evidence of racial discrepancies: African-American borrowers had the highest mortgage denial rates at 17.4%, while non-Hispanic whites had the lowest at 7.9%. Overall, mortgage denials are at their lowest rate since at least 2004, according to LendingTree. At the national level, 9.8% of loan applications were denied in 2018 — nearly 1 in 10 would-be borrowers. Here are the 15 American cities where applicants are most likely to be denied a mortgage, ranked.

international


businessinsider.de Katie Warren, Business Insider
mortgage cities hardest most denied their likely applicants analysis lendingtree ranked businessinsider






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