Whether microfinance has an impact on mortgage approval depends on whether the platform has been connected to the credit information system of the People's Bank of China. If there is no access to the credit information system, it will not affect the mortgage application. However, if the microfinance platform has been connected to the credit information system, the following factors need to be considered: whether there is overdue, whether the debt ratio is too high, and whether there are many hard inquiry records. Only small loan records do not lead to bad credit records, which will not affect personal credit information and mortgage approval.

Is there a small loan on the credit report that affects the mortgage?

Microfinance does have a certain impact on the later application for mortgage, because banks generally check the credit report first when approving mortgage applications. If it is found that the previous small loan has a bad record, the bank may refuse the mortgage application. However, this does not mean that once you have a small loan, you can't apply for a mortgage. As long as you can maintain a good use record, repay the loan in time and settle the loan, it will not be greatly affected when applying for a mortgage. Therefore, it is very important for people who apply for a mortgage to maintain a good credit record.