10 Reasons Your Mortgage Loan Could Get Rejected

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You Recently Purchased or Leased a Car

“Taking out a loan to buy a car, or leasing a car, in the months before your home loan closes could be a deal-breaker,” said Mindy Jensen, a real estate investor and community manager with BiggerPockets, a real estate social network and marketplace.

“Having a car payment increases your monthly debt obligations, increases your debt-to-income ratio and could cause your loan officer to worry about your ability to make your mortgage payment.”

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