Do you know the top 3 reasons people apply for a home loan and are turned down? The answer probably won't surprise you.

One reason is a poor credit history. Do you pay your bills on time, or are you always late. It pays to get your credit rating as high as you can before you apply for a loan.

Another reason is that you don't make enough money to qualify for the loan. If this is the case, consider a different house that is not as expensive as your first choice.

The third reason is that the loan applicant has too much debt already. If this is the case then the lending company believes you will have difficulty paying all your debts. The solution is to pay down some debt before you apply for your home loan.

When deciding which home loan is the best for you, be sure and compare different loan plans. Rates, fees, terms, and conditions can vary from lender to lender. Only by comparing can you recognize the best deal.