1. After one year in loans overdue, the main condition for applying for mortgage loan is that the borrower has collateral. When handling a mortgage loan, the borrower needs to provide valuable assets as collateral as a guarantee for the loan.
2. The borrower's credit record will have an impact on the loan application. Loans overdue for one year may have a negative impact on the borrower's credit score, making the credit status when applying for loans poor. Even with collateral, banks or financial institutions will carefully consider the borrower's credit status and may require higher interest rates or other additional conditions.
3. Banks or financial institutions will evaluate the repayment ability of borrowers. Borrowers need to prove that they have a stable source of income and have the ability to repay their mortgages on time. This will involve a review of the borrower's work or business conditions to ensure that he has sufficient repayment ability.
To sum up, small loans overdue can still apply for mortgage loans for one year, but the borrower needs collateral and needs to meet the requirements of banks or financial institutions on credit history and repayment ability.
Extended data:
Micro-loan is a micro-credit loan product launched by Ant Financial, which is suitable for individuals and small and micro business owners. Although it is still possible to apply for a mortgage loan after one year, overdue loans will have a negative impact on the borrower's credit record and may limit his credit line and loan interest rate in financial institutions. Timely repayment is an important factor to maintain a good credit record, and avoiding overdue repayment is helpful to keep the loan application going smoothly.
It should be noted that different banks and financial institutions may have different application conditions and lending standards. It is suggested that borrowers consult relevant banks or financial institutions before applying for mortgage loans to understand their specific requirements and procedures, so as to better evaluate their application success rate.
The above is the answer about whether micro-loans can apply for mortgage loans after one year overdue. I hope I can help you. Please feel free to ask any other questions.