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When is the peak season for bank loans? What is the best month to apply for a mortgage loan?

The requirements for applying for a loan to buy a house are becoming more and more stringent, and the progress of the application is getting slower and slower. Therefore, many home buyers want to know when is the peak season for bank loans? What is the best month to apply for a mortgage loan?

Strictly speaking, banks, as financial institutions, lend money every month, and there is no off-season or peak season. But based on the actual situation, banks do have some months where it is easier to apply for a loan, and there are also some months when the threshold for applying for a loan will be higher. Due to the influence of these factors, borrowers will flock to apply for loans.

First of all, it is the beginning of each year, when it is easier to apply for bank loans. Every year from February to March, banks often increase the amount of loans in order to achieve a good start. In addition, the loan limit is relatively sufficient, and the loan application threshold is often lowered. Moderately relaxing loan approval standards is something most banks will do at the beginning of the year.

In addition to the beginning of the year, July to September every year is also a better time to apply for a loan. As at the beginning of the year, banks will also relax some loan approval standards, mainly to impact performance in the second half of the year. Banks make detailed plans for the first half and second half of the year every year. In the initial stage, loan conditions and loan interest rates will be relatively relaxed.

In order to increase customers, some banks will even provide some incentive policies to internal employees and release many preferential policies to customers. Interest rate reductions and interest discounts will occur frequently. If the borrower plans to apply for a loan, he may wish to apply for a loan during these times.

The mortgage approval process is as follows:

1. After the bank accepts the loan application, the bank’s account manager will sort out the information provided by the applicant and then write a A report is submitted for review, and the application materials are submitted to the review staff for review. After being signed by the person in charge of the operating organization, they are then submitted to the credit review department of the branch.

2. After receiving the materials submitted by the institution, the Credit Review Department will review them in accordance with relevant regulations. If there are any gaps in the applicant's information, the operating institution will be asked to supplement the materials.

3. After being reviewed by the person in charge of the credit review department, it will be submitted to the head of the branch for review. If the review is approved by the leader in charge, the review department will issue a notice of approval opinions.