Many people are applying for mortgages now. Some people are worried that their mortgage applications will be affected because they have debts on their credit cards. So will the credit card debt below 50,000 affect the mortgage loan? Let’s find out together.

Will a mortgage loan be affected if the credit card debt is less than 50,000 yuan?

You can apply for a mortgage loan if you owe 50,000 yuan on a credit card. As long as it is not overdue, there will be no impact. Only overdue credit will affect your personal credit report. However, if the credit card is overdue and has not been repaid on time, and has been recorded as bad credit by the bank, this situation is likely to affect the mortgage loan.

Conditions for applying for a mortgage

1. The applicant’s age must be within the range specified by the lending institution and have full civil capacity. The general age requirement is between 18 and 60 years old, and some lending institutions will relax the applicant's age to 65 years old.

2. Be able to provide your valid ID card, proof of marital status, and proof of local permanent residence. If you have a permanent residence in another place, you need to provide a valid local proof of residence.

3. Have a stable source of income, sufficient repayment ability, strong willingness to repay, and be able to repay the loan in full and on time every month.

4. Have a good credit record. When applying for a loan, the borrower and the entities it operates have no overdue loans from other lending institutions, and there is no bad credit record on the credit report.

5. Have legal business qualifications, and the business license provided must be registered for more than one year. You must also be able to provide bank statements for the past six months.

6. The guarantee provided must be legal and valid and comply with the relevant regulations of the lending institution. If unreliable guarantees are provided, loan approval will be affected.

7. When applying for a loan from a bank, you also need to open a personal settlement account at the lending bank.

8. Meet other conditions stipulated by the lending institution.

To apply for a housing loan, the above conditions are essential. So everyone should first confirm whether they are satisfied before applying for a mortgage loan.