These days, it is said that rich people are those who borrow money from banks, while people who have nothing are actually poor. This kind of statement seems rough, but it has some truth. But is it really good to borrow more money? Of course not. Too much debt will also cause many bad consequences, and it will also have a bad influence on your future mortgage application. So what impact will excessive debt have on mortgage? Let's get to know each other.
The influence of excessive debt on mortgage loan
1. If your debt ratio is too high, the loan amount of the bank's mortgage will be limited, and the money you can borrow will not be that much.
2. The bank's mortgage interest rate is a differentiated interest rate. If your debt ratio is too high and other people's mortgages implement the benchmark interest rate, your interest rate may rise to some extent. The same loan pays more interest than others.
3. Excessive debt may directly affect the result of mortgage approval and directly reject your mortgage application.
4. In terms of loan term, there may be certain restrictions due to excessive debts. Maybe someone else can apply for 30 years, and you can only borrow 15 years.
The reason why too much debt affects mortgage.
Many people think that although I owe a lot of money, it is not overdue. Why am I inferior when applying for a mortgage? Tell you why.
1, the debt ratio is originally an assessment factor for bank loan approval. If the hard indicators are not enough, the mortgage application will not be so good.
2. Too much debt means that your financial situation will not be too good, that is, you won't have much money. Even if your income is high, your repayment ability will be greatly reduced.
If the debt is too high, it means that the risk of lending you money is relatively high. In case it fails to pay back one day and the assets are insolvent, the bank will lose a lot.
Here I introduce the influence of excessive debt on mortgage and explain the relevant reasons. I hope you don't borrow money blindly. You must make a repayment plan according to your own strength and protect your personal credit.
Credit card debt, high-energy loans?
First of all, answer directly.
If you are in high debt and have overdue behavior, you can't get a loan in a short time.
Second, the specific analysis
Because the overdue situation is generally reported to the credit (big data), leaving a bad record in it, going to the bank or lending institution/platform to apply for a loan, either checking the credit or checking the big data when approving. Once the credit information (big data) is found, the personal debt ratio is too high, and naturally the risk of lending is too high, thus refusing to approve the loan.
Of course, just because you can't get a loan temporarily doesn't mean you can't do it forever.
As long as you pay off the overdue debts and other debts under your name quickly, then take the time to repair the overdue damaged credit and accumulate more good records. After the personal credit is improved and the debt ratio is reduced, you can try to borrow again (it is recommended to improve the credit for three to six months first).
Of course, if you are in urgent need of funds, there is no way but to try to borrow money from relatives and friends around you to raise funds.
It is recommended to pay attention to maintaining personal good credit at ordinary times, especially when repaying credit in your own name, remember to repay on time, never borrow too much frequently, and avoid excessive borrowing and debt.
You can get the online loan big data report from the platform of "Beijian Quick Check", which contains information such as online loan history, overdue details of online loans, liabilities, untrustworthy information, and online loan blacklist.
3. What will happen if Didi Finance is overdue for one month?
Didi Finance is one month overdue. First, the lending institution will contact the lender by phone to remind the lender to repay the loan on time. At the same time, a large amount of penalty interest will be charged to the lender when it is overdue. One month's penalty interest will be much more than one month's loan interest.
At the same time, after the deadline, the lender will report the lender's non-performing loan records to the credit information system, leaving a bad credit record in the lender's credit information, which will make it very difficult for the lender to apply for mortgage or other loans in the future.
If it is maliciously overdue, the lender will even lend it to the lender. At this point, the lender may be restricted from spending. Even in some serious cases, the lender's assets may be disposed of to pay off debts. This is not good news.
Before applying for a loan, you need to make it clear that the loan will eventually be repaid on time. In order to avoid all kinds of influences caused by overdue, you need to consider your repayment ability when applying for a loan. Blind lending will only increase the pressure in the future.
The credit record is very good, there is no overdue, but the debt ratio is high, will it affect the mortgage?
Will affect the mortgage.
The bank will comprehensively evaluate the customer's asset credit operation and finally decide on the loan. The bank will check the credit report. Too much debt, reduced repayment ability, and increased difficulty in approving bank loans.
Under normal circumstances, personal debt ratio = total debt/total income 100%, while relatively loose banks stipulate that there is room for lending if the debt ratio does not exceed 50%, and the debt ratio does not exceed 60% at the highest. Once it exceeds this range, it is a sign of insufficient repayment ability, and it is more likely to be refused a loan.
Extended data
Conditions of mortgage loan
Banks generally require that the object of "individual housing loan" should be a natural person with full capacity for civil conduct and meet the following conditions:
1, with urban permanent residence or valid residence status;
2. Have a stable occupation and income, good credit, and the ability to repay the loan principal and interest on schedule;
3, do not enjoy the purchase subsidy, not less than 20% of the total price of the purchased house as the down payment; Enjoy the purchase subsidy, and the individual will bear 20% as the down payment;
4. Take the assets recognized by the bank as collateral or pledge, or take the units or individuals with sufficient compensatory capacity as guarantors to repay the loan principal and interest and bear joint and several liabilities;
5. There is a purchase contract or agreement, and the price of the purchased house basically conforms to the appraisal value of the bank or the real estate appraisal agency entrusted by the bank.
Can a bank with too much debt lend?
Can a bank with too much debt lend?
If you are going to apply for a personal loan at China Merchants Bank, "repayment ability" will be one of the important options for review. Whether the final approval can be passed is based on the comprehensive evaluation of the business type, personal solvency, credit status and other factors you apply for, and can only be determined after the approval of the handling outlets. I suggest you provide relevant application materials and contact the personal loan department of local outlets for further verification.
Can banks lend money to houses with high personal debt ratio?
When applying for a personal loan, the lending bank will refer to your credit history comprehensively, not just for a certain period of time. If you are going to apply for a personal loan at China Merchants Bank, the approval is based on the comprehensive evaluation of the business type, personal solvency, credit status and other factors you apply for, and can only be determined after the approval of the handling outlets. I suggest you provide relevant application materials and contact the personal loan department of the local China Merchants Bank outlet for further verification.
Is credit debt too high a good loan?
No, usually the debt is too high and the bank will consider the borrower's repayment ability. You can't apply if you exceed a certain amount.
What should I do if I apply for a mortgage loan from the bank?
Then make the assets bigger, issue more proof of income, or provide more proof of assets, such as the property certificate of the house and the driving license of the car.
Will loans with excessive debts be rejected?
Whether it is an enterprise or an individual, if the debt is too high, there is a high probability that the loan will be rejected. Because the higher the borrower's debt ratio, the greater the possibility of his risk, so the loan structure is more cautious for borrowers with too much debt.
Of course, too much debt does not mean that you will refuse the loan. As we said above, the debt ratio that each enterprise or everyone can bear is different, and the lending institution will also analyze it according to the actual situation of borrowing during the audit process. For example, there are many enterprises with good business conditions, broad market prospects and low foreseeable default risk. In this case, even if the borrower's debt is relatively high, the lending institution will lend them money.
Others, for example, although the borrower's debt is relatively high, the borrower's cash flow is relatively good, and the lending institution may also lend money to the borrower. On the contrary, even if some borrowers have a low debt ratio, if their cash flow is poor and it is difficult to realize their assets, then the lending institutions are likely to reject them.
Therefore, high debt does not mean that the loan will be rejected. In the actual audit process, the lending institution will comprehensively consider the borrower's assets, liabilities, cash flow, industry prospects, borrower's conduct, upstream and downstream enterprises, personal and family expenses and other factors, and then draw a conclusion.
Will the loan check my debt now? Can't you get a loan if the debt is too high?
Regular loan companies will check debts. If the debt is high and there is no repayment ability, they won't lend you money.
How to pass the loan approval if the debt is too high?
If you are going to apply for a personal loan at China Merchants Bank, "debt status" will be one of the important options for review. Whether the final approval can be passed is based on the comprehensive evaluation of the business type, personal solvency, credit status and other factors you apply for, and can only be determined after the approval of the handling outlets. I suggest you provide relevant application materials and contact the personal loan department of local outlets for further verification.
If the personal debt in the bank is too high, will it affect the application for car loan?
This may affect the high responsibility of bank car loans and may enter the national network of central bank credit information.
How to improve the debt business of banks
If it is a personal business, 1. Lock the VIP customers of this outlet, 2. Focus on the customer base of 500,000-500,000 yuan, and 3. The service of this outlet must be continuously improved in order to retain more customers!
Is policy loan a liability in bank loan audit?
Policy loan is a loan that the policy holder obtains from the insurance company with the policy as collateral.
There are two main modes of insurance policy:
First, the insured directly mortgages the policy to the insurance company and obtains loans directly from the insurance company. If the borrower fails to perform the debt at maturity, the insurance company will terminate its insurance contract when the loan principal and interest reach the surrender amount;
The other is that the policyholder mortgages the policy to the bank, and the bank pays the loan to the borrower. When the borrower fails to perform the due debt, the bank can repay the loan principal and interest by the insurance company according to the contract.
Can banks with high debts still lend?
If the user's debt ratio is high and the bank applies for a loan at this time, the bank requires the user to pay off part of the debt and reduce the debt ratio, then the user can continue to borrow. After submitting the loan application, the bank directly refuses the user's application, so it can't lend in the case of high debt ratio. Because different users have different credit qualifications, banks will give different answers.
As long as users have sufficient repayment ability, even if the debt ratio is high, there is a certain chance that they can pass the bank loan review.
Can I apply for a loan if my debt is too high?
You can still borrow money if your debt is too high, but because your debt is too high, lending institutions have to bear great risks. If you lend money to you and you are unable to repay it, the lending institution will face great economic losses, but it will not 100% refuse, depending on the situation.
Debt is very common in today's society, and many loan products are easy to borrow money, so many people unexpectedly overspend, resulting in excessive debt. Friends with loan experience should know that debt is an evaluation factor that banks and lending institutions attach great importance to. If it is too high, the loan may be rejected. If the debt is too high, the loan may be rejected. Because the higher the borrower's debt ratio, the greater the possibility of risk, so lending institutions are more cautious about borrowers with too much debt.
Of course, too much debt does not necessarily mean that the loan will be rejected. As mentioned above, the debt ratio that everyone can bear is different, and the lending institution will analyze it according to the actual situation of the loan during the audit. For example, although the borrower's debt is relatively high, the borrower's cash flow is relatively good, and the lending institution can also lend to the borrower. On the contrary, even if the borrower's debt ratio is low, if his cash flow is low and it is difficult to realize his assets, the lending institution is likely to reject him. So high debt does not mean that you will refuse to lend. In the actual audit process, the lending institution will comprehensively consider the borrower's assets, liabilities, cash flow, industry prospects, borrower behavior, personal and family expenses and other factors, and then draw a conclusion.
I can give you some advice here.
(1) Looking for low-threshold lending institutions
For example, a normal bank loan requires the borrower to have a debt of no more than 50%, but the requirements of some institutions are relatively low. If the debt ratio is below 70%, some institutions can do it.
(2) Providing a guarantor
If your debt is too high, you can consider finding some friends with more assets and less liabilities as collateral.
(3) Find a reliable intermediary to help.
In many cases, if the borrower applies for it himself, the debt ratio is relatively high and it is difficult to pass the loan review. At this time, it is best to find some reliable loan intermediaries to help, because loan intermediaries have more resources to find the right lending institutions for you, and loan intermediaries are generally familiar with lending institutions, which can improve the pass rate.
(4) Apply for a credit card replacement loan If the borrower's debt is relatively high, but the credit is good and there is no overdue, you can try to apply for a credit card or apply to the bank to increase the credit card limit. Generally speaking, as long as the applicant has good credit, he can pass.
The introduction of excessive debt affecting loans ends here.