What Cities are Easy to Get Mortgage?

Minneapolis, Minnesota for illustration

For who does not have a house yet, the good news that there are many cities provide easy way to get a mortgage.

Term of “easy” refers to application rate. Rejection to loan application below 10% is categorized as “not difficult” to be approved.

Based on article written by Esther Trattner, 2019: “The US Cities Where It's Easiest to Get a Mortgage,” there are 25 cities considered easy to have a house loan.

Here the rank (top 10) of cities across America with more than 90% of approval loan application:

- Minneapolis, Minnesota: approval application 95.4%

- Salt Lake City, Utah: approval application 95.1%

- Kansas City, Missouri: approval application 95.1%

- Virginia Beach, Virginia: approval application 94.8%

- Portland, Oregon: approval application 94.5%

- Washington, D.C.: approval application 94.3%

- St. Louis, Mississippi: approval application 94.3%

- Boston, Massachusetts: approval application 94.2%

- Richmond, Virginia: approval application 94.2%

- Raleigh, North Carolina: approval application 94.2%

A corner of Salt Lake City, Utah

Approval mainly based on debt ratio, how much debt compared to monthly or yearly income.

As my previous posted, it is important to have good credit scores to get approval of mortgage (How Important Credit Score to Mortgage Rate?).

Then, followed by “loose” regulations and other factors such as property “booming” and population growth in each states or cities.

This is a kind of “good news” for who moves in to those cities and need a house.