I was turned down on the first house I wanted to buy. We had the minimum down payment, our debts were manageable, but at the mortgage meeting the loan guy explained why they wouldn't thje loan. Sure we could make the payments, yed my income was at the legal level, but we would be living on next to nothing. They said we would be able to get a loan from another source easily enough, but give it some serious thought. We bought our second choice, were able to buy a couple of new cars later, I could have my boats,we could vacation, and it was less than a block from a great parochial school. We applied for the mortgage from the same bank, and we paid it off. Of course in those days bankers had ethics. They kept the mortgage, they used to do that in the old days, not sell it to another party the next day. That bank is still in businesss, not part of a conglomerate.