Decoration loans will check the credit information of both husband and wife, but they do not have to provide their own credit information reports. The bank will check the customer's credit information by itself. The credit products of general commercial banks will have certain requirements for customers' credit level. For both husband and wife to apply for a decoration loan, if one of them has a problem with personal credit, the bank may refuse the loan. In addition to credit reporting, income is also a key point that banks will consider. If both husband and wife have passed the credit investigation but the income is not enough, the decoration loan may still be rejected, which depends on the actual regulations of the bank.

Housing renovation loan process

1. When applying for a house decoration loan, the borrower must apply at the business outlet where the business is started, fill in the application form, submit relevant materials and go through relevant guarantee procedures;

2. After investigation and approval by the account manager, the loan contract shall be signed with the approval of the competent examination and approval department. The account manager handles the loan procedures, and the borrower repays the loan at the business counter, or leaves enough repayment amount in the deposit account or bank card, and entrusts the loan bank to withhold the repayment;

3. After the loan is settled, the bank cancels the creditor-debtor relationship with the customer and goes through relevant formalities.

Matters needing attention in applying for housing decoration loan

Applicants can apply for housing renovation loans with the renovated houses as collateral. As long as the renovated house is not in the bank mortgage loan and meets the requirements in terms of face value and market value, the loan amount is generally about 70% of the real estate appraisal value. The applicant may also provide a loan guaranteed by an enterprise legal person or a guarantee company capable of paying off on its behalf. If you have paid the provident fund for half a year, you can also consider applying for a provident fund decoration loan.

If the house renovated by the applicant is mortgaged property, in principle, the mortgaged house has been mortgaged to the bank, and it can no longer be used as a mortgage to apply for a loan, and the real estate license has not been obtained. However, some banks will provide decoration loans to our mortgage customers, even if the house is being mortgaged, it can also be used to apply for decoration loans.

Because banks have similar decoration loan products, that is, after their banks apply for mortgage loans, they can apply for decoration loans for mortgaged houses in their banks. However, it should be noted that the renovation loan amount is also related to the value of the mortgaged house and the remaining mortgage loan. However, it is best to provide another property or asset as collateral to apply for a loan.