What factors will affect the mortgage approval?
1, lender age
Banks have strict examination conditions when accepting borrowers' mortgage applications, requiring applicants to be at the age of 18-65, of which 25-40 is the most popular group, followed by 18-25 and 40-50. For people aged 50-65, housing loan applications are generally not approved. Because people of this age are prone to illness or other risks that affect their income, it is not easy to get loans.
2. Application materials
Incomplete application materials are one of the reasons why most property buyers are refused loans, because the authenticity and integrity of the materials are the primary factors that determine whether you can get loans. If you provide false information, the bank will not hesitate to reject your application when it finds out, so don't take any chances.
3. Personal repayment ability
When reviewing loan applications, banks should not only review credit information, but also focus on individual repayment ability. If the debt of the loan applicant is too high, or the income certificate provided can not meet the requirements of bank loans, it will affect the approval of loans or reduce the loan amount.
4. Personal credit status
When an individual applies for a housing loan, the bank will first investigate the personal credit report, that is, inquire about the personal credit report. If the personal credit report shows that the repayment has been overdue for three consecutive times or six times in the past two years, then the borrower's application for housing loan is likely to be rejected. Therefore, everyone should maintain their credit information at ordinary times and let themselves have a better credit record.