Does personal credit loan affect housing loan credit reporting?
If the personal credit loans used by borrowers have always been repaid normally, and there is no overdue record, then when applying for mortgage loans, the use records of these personal credit loans will help banks to know the personal situation of borrowers more quickly, which reflects the borrowers' good willingness and ability to repay and is conducive to applying for mortgage loans.
If the borrower has overdue records when using the personal credit loan, it will affect the housing loan, because if he wants to apply for a mortgage loan, the bank will require the borrower to have no more than six overdue records and no more than three consecutive overdue records. If loans overdue's credit is serious, he will not be able to apply for a mortgage loan directly.
When applying for a mortgage loan, if there are many outstanding credit loans in the applicant's credit report, it will also affect the purchase of a house, because it shows that the borrower's debt ratio is too high, and it is often difficult to meet the bank's requirements for repayment ability, and the overdue risk increases, and the bank is unwilling to approve the loan.
In addition, if borrowers frequently apply for personal credit loans within three months before applying for mortgage loans, there will be many inquiry records of loan approval on the credit report. These hard inquiry records will enrich the credit information, and banks with strict requirements may be reluctant to lend money or the loan amount will be reduced.
Does personal credit loan have an impact on mortgage credit reporting? It needs to be combined with the purpose of the loan. Not all loan records will affect the mortgage, but loans overdue and high debt ratio will definitely increase the difficulty of applying for a mortgage.