How long you should wait to reapply for a mortgage loan depends on the reason you were denied. Some problems are quick fixes, and some take more time. If you were denied on a technicality, such as you didn’t get your employer to verify your income, you could be approved right away after you get the verification.
Don’t let being denied stop you
If you were denied because your credit score was too low, you have two options: You can apply elsewhere. Not all lenders have the same standards. Or you could work to raise your score, which could take a year or so. If you were denied because your down payment was too low, you might need to wait before you can save more, or you might be able to borrow the money from a friend or relative, for example. Some people, particularly newlyweds, crowdfund to get down payment funds.