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Houston top ten city for mortgage application denials Houston top ten city for mortgage application denials https://www.recenter.tamu.edu/news/newstalk-texas/?Item=199972018-05-01T05:00:00Z2018-05-01T14:00:00Z

​​​​​HOUSTON – Local mortgage applications​ are denied at a rate of about 9​ percent, ​​the ninth-highest out of the 50 cities studied by LendingTree Inc. 

​The top reason for mortgage denial in ​the Bayou City was debt-to-income ratio, which is the share of monthly debt obligations in relation to monthly gross income. According to LendingTree, most lenders want this number to be 43 percent or lower. 

San Antonio was the next Texas city on the list, ranking 18th with just over an 8 percent rate. 

The rest of the top ten are:

  • No. 10 Hartford, ​​Conn., 8.75 percent denial rate;

  • No. 8 Tampa, Fla., 9.12 percent;

  • No. 7 Providence, R.I., 9.31 percent;

  • No. 6 Orlando, Fla., 9.47 percent;

  • No. 5 Miami, 10.56 percent;

  • No. 4 Oklahoma City, 10.76 percent;

  • No. 3 Memphis, Tenn., 11.76 percent;

  • No. 2 New Orleans, 12.27 percent; and 

  • No. 1 Birmingham, Ala., 13.32 percent. 

Houston Business Journal
Houston-The Woodlands-Sugar Land
Housing
https://www.bizjournals.com/houston/news/2018/04/30/study-houston-among-top-10-cities-for-highest.htmlRead more at {Source}

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