1. What are the usual reasons for the failure of mortgage approval?
1. There is a record of overdue repayment.
The borrower's personal credit report is an important reference when handling loans. If the report shows that the borrower has a recent record of overdue repayment, then the loan is likely to be rejected.
However, if the number of overdue loans is small and the amount is small, there is still hope to get the loan, but the loan ratio will be reduced and the loan interest rate will be increased.
2. The loan information is incomplete.
One of the conditions for a successful loan is that the information provided by the borrower must be complete, because if the information provided by the borrower is incomplete, the bank will also refuse the loan.
3. The loan information is untrue.
Some property buyers are worried that the loan amount is not high because of their low income, so they think of submitting false information. However, if the bank finds out, it will definitely refuse the loan and may be included in the "blacklist".
4. Weak repayment ability
The success of the loan is closely related to the borrower's repayment ability. If the borrower's repayment ability is insufficient, then the bank needs to take higher risks and the probability of mortgage rejection will increase. ?
5, debt is too high
The lender's monthly payment should not exceed 50% of the family's monthly income. If this limit is exceeded, the loan may be rejected. Even if you can get a loan, the loan amount is not high.
2. After my mortgage application is rejected, can I apply again?
Once rejected, the borrower can apply for a loan again, but certain conditions must be met. If the borrower is refused a loan due to bad credit, it will be more difficult to apply again.
In addition, if the borrower is refused a loan at the same bank, it will take some time to apply. If it is due to inadequate preparation of materials, as long as the borrower prepares all materials when applying for a loan for the second time, it can generally pass the loan. Of course, the specific decision should be combined with the current mortgage market and policies.
Third, how to remedy the rejection of the mortgage application?
1. Increase the down payment for house purchase, reduce the loan application amount, prepare all materials, and then apply for a loan from the bank.
2. Different banks have different provisions on loan conditions. If you are refused a loan in one bank, you can try another bank.
If the bank still doesn't agree, you can apply for a loan from the guarantee company. If you submit the materials through a professional loan intermediary, it will often lower the loan threshold and may also increase the chances of loan approval.
(The above answers were published on 2016-12-31. Please refer to the actual situation for the current purchase policy. )
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