Factors affecting the amount of mortgage loan
1. Down payment ratio
The amount of bank loans, affected by the down payment ratio of loans, usually cannot exceed the difference between the total house price minus the down payment.
For example, for a house with a total price of 1 10,000 and a down payment of 30%, then the maximum loan amount =100-100x30% = 700,000.
The down payment ratio will be adjusted with the property market policy, and the requirements of different banks in different regions are different. It is best for buyers to understand the local purchase policy.
2. The borrower's repayment ability
Repayment ability mainly refers to monthly income, which can reflect a person's repayment ability. The usual requirement of banks is that the monthly income is more than twice the monthly payment.
3. Personal credit information
Personal credit investigation is an important project for banks to inspect borrowers, and it is a prerequisite for obtaining the expected loan amount and preferential interest rate. Some banks will check the borrower's credit card records within two years and loan records within five years. Strict bank review will take longer, and those who do not meet the credit requirements may reduce the amount, and in serious cases, they will be refused loans. Therefore, everyone should pay attention to their credit records and pay back credit cards and loans on time to avoid overdue.
4. Support ability
Some banks will also check the payment of the borrower's medical insurance, pension insurance, housing provident fund, etc., which can reflect its repayment ability from the side.
5. Age of the house
If you buy a second-hand house, the age of the house will also affect the loan amount. Usually, the requirement is 20-25 years, and the relatively loose one will require 30 years, and the strict one is 10-15 years. For older second-hand housing loans may be reduced, the younger the house, the easier it is to get loans, and the amount is higher than the old one.