When applying for a mortgage, the bank will approve the loan according to your various evaluations. If the mortgage is not overdue and the comprehensive score is insufficient, it may be that there is no stable income or the debt ratio is relatively high. Please see the detailed introduction I brought for specific reasons and solutions!
Why is the comprehensive score insufficient when the mortgage is not overdue?
1. The credit report is tainted: when applying for a loan, the platform will examine the credit information of customers. If the customer's credit report has a record of non-performing loans or long-term loans, then the platform will feel that the customer has credit risk and will directly reject the customer's loan application.
2. The debt ratio is relatively high: the debt ratio of customers will directly affect the repayment pressure in the future. If the customer's debt ratio is high, it means that the probability of overdue in the future is high. After reviewing the customer's qualification, the platform will directly reject the customer's loan application in order to control the risk.
3. No stable income: income is the guarantee of customers' repayment ability. If the customer does not have a stable source of income, the platform will worry that the customer will not be able to repay after borrowing. In order to control risks and safeguard their own rights and interests, the loan platform will also directly reject customers' loan applications.
4. Lack of capacity for civil conduct: If the customer cannot bear the debt liability due to physical or other reasons, the loan platform will not agree to the customer's loan application.
What should I do if the comprehensive loan score is insufficient?
The solution to the insufficient comprehensive score of refusing loans: reduce the personal debt ratio and pay off part of the previous arrears in advance; Carry out additional certification, such as social security certification and provident fund certification; There are overdue records in the credit information, and it is necessary to pay off overdue debts; Insufficient repayment ability and need to submit additional financial proof materials; There are too few credit records in credit investigation, so it is necessary to continue to accumulate good credit records.
All the above methods can help users improve their comprehensive credit score, and after the comprehensive credit score is improved, the probability of passing the audit can also be improved. Due to the interaction of various reasons, users usually have insufficient comprehensive credit scores, so users need to solve multiple problems at the same time when solving problems. After solving the problem, if you apply for a loan again, whether you can pass the examination depends on the examination results on the page.
Because after the loan is rejected, only the loan approval inquiry record will be left in the credit information, but not the loan record, so users should also pay attention to the frequency of applying for loans.
What if the house mortgage fails?
1. Loan-changing banks: Different banks have different mortgage review efforts. Some banks will be more stringent, and customers who do not meet the requirements slightly may fail to pass the mortgage. In this case, the customer can apply for a mortgage in another bank, and maybe it will pass.
2. Increase the down payment ratio: If banks are worried about their income, then customers can try to increase the down payment ratio and reduce their dependence on mortgages. After the down payment ratio increases, the monthly mortgage payment will naturally decrease, which will increase the mortgage pass rate.
3. Reduce the requirements for the house: increasing the down payment ratio requires the customer's economic ability. If customers can't pay more down payment temporarily, they can lower their requirements for houses, for example, they can buy houses with lower unit price or lower total price, so that banks will lower their requirements for customers' qualifications and mortgage loans will be easier to pass.
4. Find a third party to guarantee for yourself: If the bank is not very comfortable with its qualifications and refuses to issue loans, customers can find some third parties with better qualifications to guarantee for themselves. Some banks recognize this operation. As long as the guarantor's qualification is better, the bank's concerns will be reduced and the customer's mortgage application will be accepted.
Why is the credit score always insufficient?
First, internal factors.
In fact, it is the customer's own credit conditions, mainly depending on repayment ability and personal credit. Any question will lead to insufficient comprehensive score.
1, personal credit, preferably no overdue record, if there is, it can't be overdue at present, and it can't be a credit black account; And don't have too many records of credit inquiry in the short term, especially the records of credit card approval, loan approval and guarantee qualification examination.
2. Repayment ability depends not only on income, but also on personal liabilities. The repayment ability recognized by the bank is usually that the personal debt cannot exceed 50% of the income, otherwise it will be considered that the debt ratio is too high and the repayment ability will be questioned, and the bank will list it as a high-risk customer, which is also a manifestation of insufficient comprehensive score.
Second, external factors.
With the central bank's efforts to rectify credit cards, the bank's risk control has been tightened, further raising the threshold of related businesses. If the credit conditions of customers who used to be relatively high-quality for banks have not changed, the comprehensive score will naturally decrease with the increase of the threshold, so it is normal to score less.
For example, after inflation, the same value of money can buy different things. In the past, 10 yuan may be the family's food expenses for one day, but now we can only eat a bowl of rice noodles.
Extended data:
Personal credit evaluation system is the guarantee and foundation of credit consumption in modern society. The United States is not only the birthplace of credit cards, but also one of the countries with the most developed personal credit scoring system. Generally speaking, Americans often say "your score" usually refers to your current FICO score. In fact, Fair Isaac has developed three different FICO scoring systems, which are used by the three major credit reporting agencies in the United States, and the names of the scoring systems are also different.
The credit score obtained by FICO scoring system ranges from 300 to 850. The higher the score, the smaller the credit risk of customers. But the score itself can't explain whether a customer is "good" or "bad". Lenders usually only use the score as a reference for loan decision.
Each lender will determine the acceptable credit score level according to its own loan strategy and standards and the specific risks of each product. FICO scoring model mainly has five factors: the customer's credit repayment history, the number of credit accounts, the years of using credit, the types of credit being used and the newly opened credit accounts.
In FICO scoring system, it is not necessary to consider all the information of customers, and some information cannot be used as the basis for scoring, so as to protect customers' privacy from infringement or prevent customers from being discriminated against, which is specifically stipulated in the Fair Credit Opportunity Act and the Customer Credit Protection Act of the United States.
Why is the comprehensive credit insufficient when the online loan is not overdue? Maybe that's why.
If you want to apply for an online loan, although it is not as complicated as applying for a bank loan, you don't need to go through so many procedures. However, in order to recover the loan smoothly, the lending institution will also strictly examine the information of the loan applicant. Many people wonder why their online loans are not overdue and their comprehensive credit is insufficient. There is actually a reason for this. Let's have a look.
Why is the comprehensive credit insufficient when the online loan is not overdue?
1, insufficient repayment strength.
Many online loans will be written in the application conditions, requiring borrowers to have a stable job and income source. If the loan applicant is unemployed or engaged in high-risk jobs such as miners, many lending institutions will refuse to lend to such applicants considering the repayment risk.
Secondly, if the salary of your occupation is low, you can't meet the repayment requirements. For example, the salary is only 3000 yuan per month, and you have to pay back 2500 yuan per month. This is too risky for lending institutions to lend money.
2. The debt ratio is too high.
Although many loan applicants have stable jobs and have no overdue records in the credit information, there are many outstanding loans in the credit information, or the credit card overdraft is high and the arrears are not settled. At this time, if they apply for a loan, it is likely to be a loan. Considering the purpose of the loan and the risk of repayment, lending institutions are reluctant to lend.
3. There are too many hard inquiry records in credit information.
Even if there is no overdue record in the credit report, there are too many hard inquiry institutions such as loan approval and credit card videos, which will make the lending institutions think that the loan applicant is short of money, eager to obtain funds, and has poor repayment ability, and is even more reluctant to lend money.
The secured loan on the credit report is not settled.
If you have no outstanding loan, but you are the guarantor of others' loans, the credit report will also show that as long as the secured loan is not settled, the guarantor may need to repay the secured loan, which affects the repayment ability of the loan applicant in disguise.
These reasons may be the reasons why online loans are not overdue and comprehensive credit is insufficient. It doesn't mean that everything will be fine if your credit information is not overdue. Other aspects need to be considered.