General mortgage approval when the bank will query the borrower's credit record within five years is good, if the credit record is not stained, it will be easy to pass the approval, but if there are some problems, the bank will be a comprehensive examination and then decide to approve, such as the problem of high indebtedness, the borrower's indebtedness in general more than 50% of the total income, it will be difficult to reapply for a loan. If the debt ratio of the borrower exceeds 50% of the total income, it will be difficult for him to apply for a loan again. If the borrower is married, the bank will also look at the credit history of the spouse, and if the spouse's credit history is not good enough, it will also affect the approval. Another factor that is often overlooked is the number of credit inquiries, if the number of credit inquiries will be considered by the bank that the borrower is not qualified enough, which may affect the approval of the loan.

2, bank current situation

Personal income proof of work and bank current situation, is also a very important factor affecting the approval of the mortgage. For mortgage approval, the bank's requirement is that the borrower's monthly income is at least two times the monthly mortgage payment, so your bank current record at least six months before the approval of this level, because only to reach the level of the bank to examine in order to give you approval. If you don't reach this level, your mortgage approval will also be difficult to pass.

3, home purchase record

For the second purchase of a home to apply for a mortgage lender, the purchase of a second suite when the bank will buy your first suite when the lending contract for inspection, and then according to the second suite of relevant policies as well as a combination of factors for approval. This is different from the previous purchase of the first suite of down payment as well as interest, so the bank will pay more attention to the good lending situation will not affect the second mortgage approval.

Expanded Information:

Loan Approval Process

1, Application for a Loan

This step is the submission of the user's information. Depending on the type of loan, the information prepared by the borrower is different. The usual information includes the borrower's basic information, such as the borrower's ID card, education certificate, title certificate or other qualifications, the borrower's job information, such as proof of employment, social security and provident fund details, etc., proof of the borrower's repayment ability, such as bank current and proof of income, as well as the borrower's collaterals and so on.

2, credit rating

After the bank receives the borrower's documents, it will assess the borrower's credit rating, which includes credit inquiry and third-party big data such as the green dog fast check, etc., which the user can check beforehand. The different levels of evaluation will determine how much interest rate and loan amount you will enjoy and whether you will be able to pass the loan approval.

3, loan investigation

After the credit rating assessment is passed, the bank will conduct a detailed investigation into the authenticity, legality, security, profitability and risk of the materials submitted by the borrower.

4, approver approval

After the loan investigation passes, the bank will carry out the loan approval according to the loan management system of audit and loan separation, graded approval, this step is also the final audit, after the audit passes, your loan is basically no problem.

5, sign the contract

After the loan approval, the bank and the borrower signed the loan contract.

6, loan disbursement

The bank disburses the loan on schedule as stipulated in the loan contract, and the loan disbursed by the bank will be transferred to the borrower's account within the stipulated time.