Javier and Julianne want to buy a $200,000 house. They have $40,000 for a down payment and need a $160,000 loan. They try to get pre-approved for a loan of that size but are denied. What is the most likely reason that the loan was not approved?
A. The down payment is far below the minimum needed
B. They have too much debt or a bad credit rating
C. The bank believes that down payment is too large for a house in that price range
D. The bank cannot pre-approve a loan until the house passes a home inspection
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