With more and more people buying houses, more than 60% of people applying for housing loans are rejected because of credit card debt, so how big will the credit card debt ratio affect the mortgage?

How much will the credit card debt ratio affect the mortgage?

Many banks can't apply for a mortgage if their credit card liabilities are 50% according to the mortgage regulations. Liabilities include fixed expenses such as credit card installment and monthly repayment, while relatively loose banks stipulate that the debt ratio is less than 50% before lending, with a maximum of 60%. Once it exceeds this range, it is a sign of insufficient repayment ability and may be refused.

Credit card debt does not mean that you can't apply for a mortgage, but credit card debt has a great influence on mortgage application. Therefore, when applying for a mortgage, in order to ensure the passage of the mortgage, it is best to reduce personal debt.