Two reasons: lender overlays, and somebody doing the math wrong. Neither one is really about your eligibility. Overlays first. Base guidelines come from Fannie Mae, Freddie Mac, FHA, and VA, but individual lenders layer stricter internal rules on top. One of the largest VA lenders in the country caps approvals at a 45% debt-to-income ratio even though VA guidelines allow considerably higher in the right circumstances. A borrower that big name turns down can often be approved by a broker without that overlay. Same borrower, same guidelines, different answer. Opening several new credit cards can likewise drop your score below one lender's overlay threshold while another approves you fine. The second reason is simpler: a miscalculation. For a straightforward salary or hourly wage, figuring your true maximum is basic arithmetic, so a big swing between lenders usually means one of them missed something like property taxes rather than you actually qualifying for less. One tell to watch for: FHA normally allows a higher DTI than conventional (with an automated approval the hard ceilings are 46.99% housing and 56.99% total, and those apply only to AUS-approved files), and FHA's lower monthly insurance often means a lower payment. An FHA number that lands below conventional is a red flag the file was not figured right. A too-easy pre-approval built on a quick phone call deserves suspicion. Knowing your true maximum, which is a different number from what you should actually borrow, is the whole point. Pinning that down is exactly what we do on the free Roadmap conversation, about 20 minutes where we run your real numbers.