Peggie Simmons 5 WEIRD REASONS WHY YOU ARE LIKELY NOT GOING TO GET A MORTGAGE IN 2021 Everyone seems to be getting a mortgage; this is because of the record low rates in 2020. Mortgages are one of the easiest things to get when you have your papers in order, but people still harbor fears of being rejected when they apply for a mortgage. There are several varying reasons why people get rejected for a mortgage, but it is always an unpleasant experience. With the influx of people getting mortgages in 2021, people are hoping that the trend carries on to 2021, but that might not be the case. Below are some weird reasons why you might not be getting a mortgage in 2021.
You would think that being self-employed would increase your chances of getting a mortgage, but that isn’t always the case. It might be exactly why your application gets rejected in 2021. Being selfemployed does not guarantee your income, and with the volatility of the economy, it is hard to trust that you would have enough money to pay back the loan. This gets worse if your business is less
than two years old as it doesn’t show you have a track record needed to give the bank confidence that you would be able to service the loan.
MORTALITY RATE IN THE COUNTRY
Due to the coronavirus and how contagious it is, lenders might have concerns about giving out loans when there’s a high mortality rate in the country. Lenders might want to wait till the vaccine has l
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YOU’RE SELF-EMPLOYED
