Nowadays, most people choose to use a down payment to buy a house. Paying a down payment can help us alleviate a lot of financial stress problems. To pay a down payment, we need to go through the loan procedures, but in real life, before going through the procedures. Sometimes the loan application does not go smoothly due to various problems. Today, the editor will talk about what should I do if I have paid the down payment for buying a house but the loan cannot be obtained?

What are the reasons why the loan cannot be obtained?

1. Problems of the home buyers themselves

Most of the reasons why the loan cannot be obtained are related to the home buyers themselves. When taking a loan to buy a house, you need to check the borrower’s credit report. Home buyers have taken out other loans or used credit cards in the past, and left bad records during the use, which will lead to problems with their own credit reports, which will affect the application of home loans. In addition, whether the home buyer's job is stable will also affect the housing loan. Some banks will also look at the borrower's social security payment. If the borrower's payment is unstable, it means that his job is unstable, and the bank will worry about his ability to repay the loan. So this Borrowers may be rejected.

2. The issue of house property rights

You cannot apply for a bank loan if you own a house, such as a certificate of small property rights, and a bank loan must have a reliable property rights certificate, so a small property rights certificate is required. For houses, banks directly refuse to lend. It should also be noted that some older second-hand houses may be denied loans by banks due to the remaining years of their property rights.

3. The developer’s reasons

The failure to get the loan may also be due to the developer’s reasons. Usually when we buy a new house, the developer will assist us with the loan procedures. Some developers The Chamber of Commerce directly handles the application for home buyers. However, due to the large number of people buying houses, it is inevitable that materials will be missed or the developer is not qualified to sell houses. Both situations will affect the loan processing. If it is If a home buyer cannot get a loan due to the developer's fault, the responsibility lies with the developer. The home buyer can ask the developer to terminate the contract, request a refund of the down payment and deposit, and bear corresponding liquidated damages.

What should I do if I can’t get the loan?

1. Timely remedy

If a home buyer encounters a situation where he has paid a down payment but cannot get the loan, do not rush to change banks. After you have figured out the loan application After finding out the specific reasons for not coming down, you can also take remedial measures and resubmit the loan application. If the problem lies with the home buyer's credit, current flow, liabilities, etc., it is recommended to increase the down payment amount, reduce the loan application amount, and prepare all the information before applying for a loan from the bank.

2. Change loan banks

Do not find it troublesome to go through the loan procedures. If the home buyer really does not meet the requirements of the previous loan bank, he can try to change the bank. Different banks have different lending policies. Failure to apply for a loan at this bank does not mean that application for loans from other banks will also fail. Each bank has different strictness in approving loans. Maybe a bank with a looser lending policy will fail. The loan can be successfully obtained. Therefore, when you are rejected by a bank or the loan limit is insufficient, home buyers can try to find another bank for a loan.

3. Find a guarantee company

This situation is quite serious. Generally, there are some minor problems in the personal credit of home buyers, which will not have much impact on the loan. If the qualifications of the home buyer are indeed not very good, but you really want to buy this house, you can consider finding a guarantee company to guarantee your loan. However, borrowing through a guarantee company will incur additional fees, which are higher than bank loans, so everyone must be mentally prepared.