When applying for a loan, whether mortgage or unsecured, the bank or lending institution will require you to provide a credit report. Many people were rejected because of poor credit information. Today, I want to tell you about the bank’s approval of your loan application.
1, malicious overdue
The behavior that causes overdue has a lot of, for example individual does not understand the regulation of bank repayment date, bank staff did not inform clearly the repayment date wait for a reason to cause individual to did not repay in time; Or applying for student loans during college and not paying them on time after graduation. If the cardholder subjectively takes illegal possession as the purpose and deliberately overdraws within the time limit and limit and refuses to return it after the card issuing bank urges it, it is malicious overdue.
2. Guarantee huge debts for others
When vouchsafe for others, be sure to be careful, according to their own ability and decided, must not exceed their own ability, more can not be their own house and other life necessities as collateral!! It is best to write in the contract as “general guarantee guarantee”, otherwise, may bring yourself a huge debt.
3. Personal debts (debts account for 70% of income)
Typically, a family’s total income must be at least twice the amount of debt before the bank can agree to lend. This shows, borrower must according to the income debt ratio that the bank sets before loan, reasonable assessment oneself can get approve probably quota. It should be noted, however, that the ratio of income to debt varies from bank to bank, and borrowers need detailed consultation.
4. Repeated credit investigation records
If over a period of time, because your credit report for examination and approval of loans, credit CARDS and other reasons many times by different Banks and institutions query (query 3, 4 and above), but your credit report suggests that you didn’t get the new loans or apply to the credit card, can you apply to many Banks for loans or credit CARDS but did not succeed, this information for you to get new loans, or apply for a credit card may produce adverse effect.
Your spouse’s credit is terrible
When an individual applies for a house purchase loan, the bank not only verifies the information and credit of the loan applicant, but also considers the credit of his/her spouse as an important factor. A bad credit record of one party may lead to the failure of the other party in applying for a personal mortgage.