US Home Improvement Mortgage Loan Application Denials By Reason in 2024
Updated on October 2, 2025.
According to data from US Home Mortgage Disclosure Act (HMDA), in 2024, out of 1,204,362 Home Improvement Mortgage Loan Applications, 380,061 were denied (i.e. 31.56%). The top reason for the denial was Debt-to-income ratio (40.29%), followed by Credit history (38.27%), and Collateral (19.21%).
The chart below shows the percentage of home improvement mortgage loan applications denied by the reason for denial, and the table below shows the number of denials and the percentage of denials per reason.
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Data Source: Home Mortgage Disclosure Act (HMDA).
US Home Improvement Mortgage Loan Application Denials By Reason in 2024
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| Denial Reason | Number of Loans Denied | Percent of Total (%) |
|---|---|---|
| Debt-to-income ratio | 153138 | 40.29 |
| Credit history | 145446 | 38.27 |
| Collateral | 73002 | 19.21 |
| Other | 48715 | 12.82 |
| Credit application incomplete | 33219 | 8.74 |
| Unverifiable information | 17169 | 4.52 |
| Employment history | 4969 | 1.31 |
| Insufficient cash (downpayment, closing costs) | 2655 | 0.70 |
| Mortgage insurance denied | 41 | 0.01 |
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