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What would cause one mortgage lender to turn us down but another to say we qualify, when they have the same info?

We've been trying to get a mortgage loan. We were told last fall by one lender that we qualified for an FHA loan, but when we went to get pre-approved (at a different lender), we were told that our credit scores didn't meet the NEW guidelines, and we were turned down. But the first lender still says we qualify. I'm truly confused. FHA guidelines are universal - they are set by the government. So, why would one lender say we qualify when another lender says we don't? Neither of our lenders will give us a straight answer on this, and I'm wondering if the one who says we qualify is just leading us on... Any thoughts?

Answer Question

Asked by Anonymous at 4:25 PM on Mar. 3, 2010 in Just for Fun

Answers (2)
  • my friend was repeatedly told by one lender that they qualified for the FHA loan, but in the end NOPE the lender was just leading them on!

    Answer by Anonymous at 4:27 PM on Mar. 3, 2010

  • It's up to their discretion. I don't believe there are steadfast rules.

    Answer by danielp at 4:36 PM on Mar. 3, 2010

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