Asked by k

If denied a loan, which of the following changes to your application process will not increase your chances of approval when you re-apply?
a.
Apply for a larger loan amount.
b.
Increase your gross monthly income.
c.
Have a cosigner apply for the loan with you.
d.
Eliminate some of your debt before you re-apply.

All Answers 1

Answered by GPT-5 mini AI
Answer: a.

Applying for a larger loan amount will not increase your chances — it makes the loan bigger relative to your income/assets and worsens debt-to-income/qualification metrics. The other choices (higher income, a cosigner, paying down debt) improve creditworthiness and approval odds.