Denied for a mortgage loan

[Jessica Beard]

I am anxious to get started in real estate investing, so today I tried to get pre-qualified for a mortgage loan trough Chase bank since my friend recommended it. I am looking at multi-family properties in the Cleveland, Ohio area. I applied for a loan with a projected home price of $50,000 and 25% down payment. I have excellent credit and only student loan debts. The advisor said due to a "high cost threshold" that I was not able to get approved. Does this mean my debt to income ratio was the problem? The only debt I have are my student loans, which I pay about $400 per month with about $23,000 left to pay off in total. I have good income and save more than double the mortgage payment would have been if I were to be approved. Do I need to try another bank, pay down my student loans or is there something else that I am missing?

Any thoughts or advice?