I can afford my rent so why don’t I qualify for a mortgage?

The ability to make payments is a large factor in lending decisions, but it is one of many factors.  Strong repayment history (credit), character, collateral, capacity and capital are all evaluated in the lending decision. The 5 C’s of credit. Now certain lenders will make exceptions on a deal by deal basis, but as a good guide at least 4 of the 5 C’s of credit should be in line.