I will give an example from a loan application that was unfortunately denied, from early in my career before I had the right amount of cynicism. 

But if it's abused (and its getting abused a lot these days) they will crack down.  

The Ferries run both directions so your wife can catch a ferry to downtown and a bus to the UW if necessary if you live in Bremerton.If you insist on living in Seattle you are better off living in Magnolia or Queen Anne since traffic can be nasty in the rain and traffic gets snarled which makes it hard to get to the ferry.

Sure it may be a lowball and get denied....but its the law of large numbers.

The wife checks out but her husband has a litany of criminal charges: hit and runs, DUI, etc. from not too long ago.Is this a legitimate reason to deny them? 

Frequently the REI/consumer applies to 3 or 5 different HELOC lenders before a credit line is actually opened -- the better rate HELOC has higher standards, so REI/consumers go through this time-exhaustive exercise of getting denied a bunch because the 4 best rate HELOC lenders denied them, it's not until the 5th that it's approved and open.

While benefiting from a great location and solid bones, and a good rental history, there is no denying that the dearth of inventory and the general frothiness of the real estate market must have played a role. 

However, I don’t have a license or car yet so I will try and find a ride or even take a bus if I have to.

Hello BP Community, I’m looking to take that “first step” but unfortunately when i tried applying for a pre-approval i was denied due to my hIgh debt to income ratio.

Matt - A judge once denied a fellow investor similar claim arguing that his courthouse was not the water court, but rather the rent court...So be prepared and think about that.