THE REALITY CHECK:
When choosing a lender, most borrowers assume their mortgage will be approved. Yet statistically, that assumption may be risky.
Over the past several years, mortgage denial rates have been climbing.
National Mortgage Professional Magazine and iEmergent reported that in 2024, the national denial rate was approximately 22.6% overall, with purchase mortgage denials at 9% and refinance denials at 29%. Early data from 2025 shows refinance denials surging to 41.8% in February!
These figures highlight a troubling trend: getting approved is harder than ever.
THE MORTGAGE WEALTH ADVISORS’ DIFFERENCE:
At Mortgage Wealth Advisors, we’ve tracked our own approval and closing rates for over 14 years. The results? We consistently close over 95% of all applications—far exceeding national averages.
Why do our clients succeed when so many others don’t?
• Expertise Matters: Many large lenders employ loan officers with minimal training. They often lack the experience to properly structure loans for approval. Some simply “throw applications against the wall to see what sticks.”
• Early Engagement: We encourage clients to start working with us well before they find a home. Proactive planning allows us to identify and resolve potential issues early—before they become deal-breakers.
• Decades of Experience: With over 30 years in the mortgage industry, I’ve seen it all. I help clients navigate around landmines, address small issues before they become major problems, and ensure every detail is handled with care.
• Strategic Mortgage Planning: Our Mortgage Planning Approach goes beyond just getting a loan approved. We tailor each mortgage to fit your financial goals, lifestyle, and long-term wealth strategy.
That’s why our motto is: “The Right Mortgage Today, For Your Family’s Wealth and Security Tomorrow.”
BOTTOM LINE:
Your mortgage approval isn’t guaranteed—especially in today’s economic climate. However, with the right guidance, preparation, and expertise, you can dramatically improve your chances of success.
If you’re thinking about buying or refinancing, let’s talk early. The sooner we start, the smoother your journey will be.
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Warren Goldberg is President of Mortgage Wealth Advisors, a Certified Mortgage Planning Specialist®, and a published author. His interviews include Blog-Talk Radio, Newsday, The Daily News, Anton Press, and the Long Island Herald. Since 1992, he’s been sharing his financial knowledge and wealth-building strategies, including how to properly use your mortgage as a financial tool. His clients regularly express their trust and appreciation by recommending friends and family call when in need of mortgage, real estate, and financial guidance.
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