It also increases the chance for snags, additional paperwork hurdles, and
even a loan rejection.
It's important to examine your credit reports carefully, because any mistakes — and they are depressingly common — could lead to a higher mortgage rate or
even loan rejection.
Not exact matches
Even though there are more lending options for small businesses than ever before, a crucial step is missing in the process; and no one is paying attention, leaving business owners increasingly frustrated over their
rejections for credit lines and
loans.
Consider that applying for a
loan for which you are not qualified, could result in a
rejection and that could damage your credit score
even more.
In fact, their terms can make
even a large unsecured
loan affordable to the majority of borrowers who would otherwise bank of
rejection from the traditional lender option.
If you have a low credit score as a result of bad credit practices, you can expect higher rates and
even recurrent
loan and credit
rejections.
Rejection of your mortgage
loan application: If you have poor credit, you may not
even bother to apply for conventional mortgage
loans.