1. Does buying a car loan affect buying a house?
Car loan and mortgage are both consumer loans, belonging to two different loan varieties. Therefore, whether buying a house or buying a car ranks first or second, from the policy point of view, the two do not affect each other.
What affects car loans or mortgage loans is the borrower's repayment rate. Debt repayment rate refers to the ratio of monthly expenditure to monthly income of personal debt. Banks will measure the borrower's repayment ability according to the debt repayment rate, and then decide the loan amount and whether to provide loans to them. Generally speaking, when the debt repayment rate exceeds 50%, banks will not issue loans again.
Therefore, if the borrower has outstanding car loans, affected by the debt repayment rate, the mortgage loan amount that the borrower can borrow will be reduced accordingly, resulting in a corresponding increase in the down payment to be paid in the early stage.
As long as you don't have a bad record in the process of mortgage loan, and the debt service ratio reaches the standard, then the problem of buying a house with a loan is not big. However, if your income is not very high, then the chances of getting a car loan are relatively small, and the amount of car loan you can apply for is correspondingly small.
But if your monthly income is high enough and your credit is good, the impact will not be great.
In fact, whether banks issue loans mainly depends on the borrower's repayment ability. Therefore, some netizens suggested that if the mortgage and car loan are not applied in the same bank, the success rate of approval may be higher, but at present, information sharing between major banks has become more common, so this method may not have much effect.
Second, from the current point of view, the factors that most easily affect mortgage approval.
1. Personal credit record
When applying for a mortgage, the bank will first check the borrower's personal credit report. If the report shows that the borrower has been overdue for three or six times in the past two years, then the borrower's mortgage application is likely to be rejected. Therefore, we must maintain our personal credit in our daily life.
In addition to overdue records, if there is a record of being sued for bad credit, long-term arrears of water and telephone charges will also cause bad records.
2. Solvency
When banks examine loan applications, in addition to examining credit information, the inspection of individual repayment ability is also the focus. If the debt of the loan applicant is too high, or the income certificate provided can not meet the requirements of bank loans, it will affect the approval of loans or reduce the loan amount.
3. Application materials
Incomplete application materials are one of the reasons why most property buyers are refused loans, because the authenticity and integrity of the materials are the primary factors that determine whether you can get loans. If you provide false information, the bank will not hesitate to reject your application when it finds out, so don't take any chances.
In fact, whether buying a car loan will affect buying a house loan, the most critical issue is your repayment ability.
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