For a long time, credit investigation is a measure for banks or lenders to evaluate whether borrowers are honest and can repay on time, and it is also a way to avoid risks. Therefore, poor credit reporting may have a certain impact on the loan to buy a house.

When applying for a mortgage loan, the developer will submit information to the bank to inquire about the applicant's bank credit status in the past two years. If the personal credit is not good, the loan may be rejected. Of course, it doesn't mean that you can't buy a house with a bad credit record. It depends on the audit strictness of different banks.

The term of bad credit records recorded in the general system is 5 years, which means that credit can be queried again after 5 years. Even if your previous credit record is not very good, you still have the opportunity to apply for a mortgage loan.

Reasons for credit investigation

If you borrow money from a bank, then the bank needs to know who you are; Need to judge whether you can repay on time; Have you ever borrowed money before? Is there any record of not paying back the money?

Before the appearance of credit investigation, you should provide a series of proof materials to the bank: proof of unit salary, etc. The loan officer of the bank should also call your company. It will be two weeks or more before the bank tells you whether to lend you money. It's really that the bank is tired and you are bored. Borrowing money is really troublesome.

The appearance of credit investigation makes it easier for banks to know your credit status: they hand over their credit information about you to a special institution for summary, and this special institution will establish a credit file (that is, a personal credit report) for you and then provide it to banks for use.

This kind of activity that banks enjoy credit investigation through third-party institutions is credit investigation. In order to improve efficiency, save time and do things for you quickly.

With the intervention of credit reporting agencies and credit reporting, when you borrow from the bank again, the bank loan officer can check your credit reporting with your consent, and then spend some time focusing on verifying some problems, and will soon tell you whether the bank will provide you with loans. Banks save trouble, you worry.

In China, the Credit Information Center of the People's Bank of China (hereinafter referred to as the Credit Information Center) is a specialized institution that establishes your "credit file" and provides personal credit information for commercial banks.