US Home Purchase 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 6,553,105 Home Purchase Mortgage Loan Applications, 621,707 were denied (i.e. 9.49%). The top reason for the denial was Debt-to-income ratio (38.61%), followed by Credit history (32.52%), and Other (15.30%).
The chart below shows the percentage of home purchase 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 Purchase 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 | 240043 | 38.61 |
| Credit history | 202169 | 32.52 |
| Other | 95088 | 15.30 |
| Insufficient cash (downpayment, closing costs) | 87626 | 14.09 |
| Collateral | 82922 | 13.34 |
| Unverifiable information | 60112 | 9.67 |
| Credit application incomplete | 42652 | 6.86 |
| Employment history | 24128 | 3.88 |
| Mortgage insurance denied | 800 | 0.13 |