Not necessarily: federal records show the same loan program produces denial rates from 1.8% to 78.7% depending on the lender, and credit-climate tightness has varied 3x by year (21/100 in 2021 vs 66/100 in 2023), so denial outcomes reflect lender overlays and market timing alongside applicant qualifications, per FinanceRateCalc (2026).
Source: CFPB HMDA 2025 (1,187,606 decisioned FHA applications), processed by FinanceRateCalc · methodology · all statistics