Map Shows States With Highest Number of People Unable to Get a Mortgage

https://colvetmiranda.org/tqp9sxcpq Mortgage rates have been hovering in the high 6 percent range for a 30-year fixed loan, but some states see tougher odds of homebuyers getting approved.

here In a new National Association of Realtors (NAR) report, some states saw far lower mortgage approval rates than others.

Why It Matters

https://reggaeportugal.com/ohjtade Mortgage rates change on a daily basis for a variety of reasons, from the Federal Reserve to inflation and regional supply and demand.

https://www.annarosamattei.com/?p=72uujixrg01 Tuesday’s average mortgage rate on a 30-year fixed-rate mortgage is 6.72 percent, but many things can make it more difficult to get approved depending on where you live.

What To Know

Ordering Tramadol Online Legal Certain states experienced higher mortgage application denial rates in 2023, according to the NAR report.

https://aalamsalon.com/s036wzmq1 Mississippi, Louisiana and West Virginia had the highest denial rates at 19, 18 and 15 percent, respectively. Alaska, North Dakota and Nebraska had considerably lower denial rates, from 5 percent to 6 percent.

Cheap Clonazepam Usa Income and credit are critical factors for homebuyers when trying to get approved for a mortgage, and states where people have lower incomes may see higher denial rates.

https://musicboxcle.com/2025/04/ffk9zho Access to credit and mortgages continues to be a barrier for Americans, especially for certain demographic groups. Black (21 percent) and Hispanic applicants (17 percent) are denied at much higher rates for a mortgage compared to their white (11 percent) and Asian peers (9 percent).

get link Analysts say natural disasters, like floods or wildfires, also create a barrier when it comes to homeowners’ insurance for many would-be buyers.

https://www.psychiccowgirl.com/tfvkpw3twq Across the country, Delaware, Mississippi and North Carolina had the highest homeownership rates, all in the 80 percent range or above.

What People Are Saying

follow url http://jannaorganic.co.uk/blog/2025/04/03/lte044mtf Title and escrow expert Alan Chang told Newsweek: “There are many reasons for a mortgage denial in this current real estate market. Excessive sales price to appraised value as well as cost/availability of homeowners insurance are a couple that come to mind outside of the normal income and debt ratio loan qualifiers.

https://townofosceola.com/tc8sr0u https://etxflooring.com/2025/04/xphdjlrex6i Sarah DeFlorio, vice president of mortgage banking at William Raveis Mortgage, told Newsweek: “Mortgage lending standards are uniform across the country, but factors such as income and purchase price might impact someone’s ability to qualify for a mortgage. If consistent and stable employment is hard to come by, then it would be more difficult to qualify for a mortgage.”

https://faroutpodcast.com/n8glwxx4 https://www.villageofhudsonfalls.com/ovb2t4m Kevin Thompson, a finance expert and the founder of 9i Capital Group, told Newsweek: “It’s clear that states considered among the poorest in the country are facing the most significant challenges in accessing credit. Mississippi, Louisiana, and West Virginia are consistently ranked among the lowest for job growth, affordable housing and access to broader job markets. These economic barriers make it tougher for residents to meet mortgage qualifications, leading to higher denial rates.”

What Happens Next

https://semichaschaver.com/2025/04/03/u66ug70 DeFlorio said buyers in markets that experienced rapid appreciation over the past few years will likely still find it difficult to break through into the market for the first time.

Order Clonazepam For Anxiety “When rates come down substantially and ‘unlock’ all borrowers who are protecting low-rate mortgages, we could potentially see a flood of inventory, which would push prices down and help make homeownership more attainable again,” DeFlorio said.

https://www.annarosamattei.com/?p=exsw617 However, Thompson said the mortgage approval landscape is unlikely to improve in the near future as President Donald Trump scales back protections for Americans hoping to make a home purchase.

https://mhco.ca/403u7c5wk “The current administration is scaling back regulations that were designed to protect low-income Americans’ access to credit,” he said. “This could widen the gap, making it harder for these buyers to secure mortgages.

source url “As protections from agencies like the DOJ and CFPB are rolled back, lenders may deny more loans without having to provide clear reasons. Without these regulatory backstops, it’s going to be much tougher for homebuyers—especially those from marginalized communities—to challenge unfair denials or even understand why they were denied in the first place.”