What is the impact of online lending on mortgage?
Why do banks mind applicants having online loans? There are two main factors: first, the source of down payment funds; The second is the pressure of individual monthly repayment.
1, source of down payment
When the real estate market was very hot a few years ago, many people made up the down payment to buy a house through online loans or credit cards, and sold it directly two years later to earn the difference. Because the value-added part of real estate earns much more than the interest amount of online loans, this kind of behavior is becoming more and more rampant, which further promotes the soaring housing prices.
Therefore, at the 20 18 National Banking Supervision and Management Work Conference held by CBRC in October, 20 18, CBRC clearly stipulated that one of the key points of future supervision work is to control the excessive growth of leverage ratio of residents, severely crack down on misappropriation of consumer loans and illegal overdraft of credit cards, and strictly control the illegal inflow of personal loans into the stock market and the property market. Because of this, the current bank's review of the source of down payment funds is relatively strict. If you have online loans and large credit cards in your name, there is a great possibility of being refused loans.
2. Repayment pressure
One of the factors to be considered in bank mortgage is that the monthly loan amount cannot exceed twice the monthly repayment amount of the individual. At present, the term of online loans is as short as one year and as long as three to five years. When calculating the monthly loan amount, if banks consider this part of the repayment amount, most of them will not meet the standard, but if they do not consider this part, the approval and consideration will be incomplete and unreasonable. Moreover, if you borrow money frequently for a long time and the amount is large, the bank can further judge that you are short of personal funds and not a good borrower, so the probability of refusing to lend is also great.
abstract
The above factors are the main factors that lead to the bank's refusal to lend, but if your loan has been settled, the above factors will not exist, so the probability of bank approval is relatively high, but the general interest rate will rise by 5% or 10% more than other banks without small loan credit records. Of course, it is not excluded that individual banks will still refuse on the grounds that you have recently made online loans, but this should be a small proportion.
Secondly, in addition to credit cards and online loans, your other loans, such as car loans and mortgages of other properties under your name, may also affect the approval of the mortgage to be purchased! Also, it is best to approve bank loans at the beginning of the year. You may not believe it. Banks have a loan quota every year, which is determined according to the reserve ratio of banks in the central bank. Therefore, it is generally easier to apply for loans at the beginning of the year than at the end of the year.