Will one spouse’s bad credit report affect the loan?

If a husband and wife buy a house with the same loan, they need to have a primary lender and a secondary lender. Whether you are the primary or secondary lender, a bad credit report can affect your loan application. Bad credit is usually due to repayment problems. Generally speaking, a person's credit record is only kept for five years and will be automatically deleted after five years. Of course, the premise is that the default amount has been repaid. If you don't pay it back, you may be sued and put on the list of old people. In that case, your credit situation will be worse.

What should couples pay attention to when buying a house with the same loan?

1. Determine the main lender.

Two couples *** want to buy a house with the same loan. There are many factors that need to be examined when determining the main lender. It is best to choose the party with better loan conditions as the primary lender. For example, looking at a personal credit report, the party with bad credit should not be the main lender, because the bank may directly deny the loan. When determining the primary lender and secondary lender, it must be determined based on the actual situation, which can be analyzed from aspects such as income, credit, age, etc. If a couple takes out a loan to buy a house together, the primary lender should choose the one with higher income and better stability.

2. Prepare materials in advance.

Different house buyers need to prepare different materials when handling loan procedures. If a couple takes out a loan to buy a house together, it is best to tell them in advance. Compared with one person's loan, a couple needs to provide more documents to buy a house with a joint loan, and no one is missing. When a couple applies for a mortgage together, they need to provide identity documents of both parties (both parties), marriage certificate, income certificate (stamped), down payment certificate, etc.

3. Attend meetings in person.

Although it is a waste of time for both parties to handle the loan procedures together, in order to avoid accidents, it is better for both parties to handle it in person. Because in the process of buying a house, the buyer will go through a lot of signing processes. Whether it is signing the sales contract, bank loan contract, house transfer and other procedures, both husband and wife are required to be present.

4. Agree on the share in advance

Newlyweds have a good relationship, and they all say that talking about money hurts their feelings. However, if you don’t talk about this when buying a house, it will hurt your feelings even more in the future. When a couple takes out a joint loan to buy a house, they should determine the share of the property in advance to avoid disputes in the future. In the process of purchasing a house with the same loan, even if the other party's name does not appear on the property certificate, it does not affect his or her ownership of the house. However, at present, a small number of couples implement the AA system for their property. When we buy a house with an independent loan, we need to consider the share of the property.

The above is an introduction to whether credit problems of couples will affect the purchase of a house with a loan, and what couples should pay attention to when buying a house with the same loan. When a couple buys a house, never confuse the primary lender and the property owner. The determination of the main lender is not the division of the property rights of the house, so do not choose a party with poor loan conditions as the main lender, as this will affect the loan application. Related Q&A: Related Q&A: If one of the spouses has poor credit, can they get a loan to buy a house?

As a former account manager of a certain bank, I have many tasks every year, among which loan processing is one of them. I have solved problems for many customers, and many customers eventually became good friends who talked about everything. .

Of course, among the clients I deal with, there are many couples who have poor credit scores, but they all got their mortgages in the end.

The specific background is as follows:

1. Specific application matters

Applying for an 800,000 mortgage loan with a 30-year mortgage;

2. Married couple conditions

Female - punch-in salary, more than 7,000 per month;

Male - no salary flow, non-governmental institutions, non-listed companies, non-large enterprises, monthly bank flow By accounting calculation, it probably ranges from 10,000 to 30,000.

3. Family size

Family of three, the child is one year old, and the parents work in farming.

4. Credit report status

Female - the credit report is good;

Male - the credit report has several "1"s and one "2", I have a credit card debt of RMB 60, and a loan debt of RMB 50,000.

(In his situation, if he had not applied for a housing loan, it would have been difficult for other formal institutions to provide small loans)

The scene during the application

I was stationed at the sales department at the time, and they were The real estate consultant guided me over. The real estate consultant told me that the down payment had been paid and that I was now applying for a mortgage loan and could help with it.

I took the information handed over by the real estate consultant and started a preliminary review to see if there was anything missing.

When I turned to the man’s credit report, I clearly felt that he was nervous. It was obvious that he was afraid that I would tell him, “Sorry, you do not meet the application conditions.” But I didn't say anything. I took the information and put it in a leather bag, and wrote their names heavily with a marker. After a moment of silence, I saw the man's pupils dilated and his mouth moved slightly.

I looked at the woman, who was staring at the man, with angry and nervous eyes that could pierce the man's face. Obviously, buying a house is strongly requested by the woman and she has high hopes. If I say "it can't be done", the woman will probably collapse. It is very likely that they will quarrel in the sales department because they have never bought a house from someone else. After being rejected in the initial review by the account manager of my bank, the real estate consultant brought it to me and gave it to me. [Crying]

I changed from lying on my stomach writing to leaning on a chair, and moved my lips. Their eyes seemed to be saying, just say what you want, we can handle it. At worst, I'll get the down payment back.

I said, "Don't worry. Now that you have found me, I will try to do it for you, but I hope you will follow my advice on how to operate it to avoid wasting your time."

Specific methods

I first asked them to sit down, poured two glasses of water and handed them to them. I told them that if they do the following four things, I would be confident to help them apply for a mortgage loan:

First of all, pay off small loans such as Juebei, and no small loans are allowed; reduce credit card debt to less than 40; if there is any statement from other banks, send another copy to me. Ensure that the job certificate issued is authentic and the company phone number is open.

I asked them if they could do all these four points. I saw that the man was a little hesitant, so I said: "I have already paid hundreds of thousands in down payment, should I care about the tens of thousands in debt? I used to live in rural areas When building a house, sometimes I would ask relatives and friends to step in. Now that I am no longer building a house, I can still ask them to help me buy a house and let them know when it will be repaid. "

The woman said this can be done, what do you think? Submit the information for system review. (It can be seen here that the down payment was saved and put together bit by bit by the woman. She really wanted a place to live.)

I said it would take a week and I would submit it after collecting all the information. System, please handle it as soon as possible.

Results

Later, they did everything I suggested. After I handed in the information, it passed the review at the beginning of a month. Within a few days, I got the loan receipt and told them Repay your loan in full and on time, and don’t overdue it.

To sum up the above

Poor credit report is not an obstacle to applying for a mortgage loan, as long as it is not a malicious debt or credit card fraud. Face your actual situation head-on, tell the handling staff the truth, provide real information, and follow the suggestions, and you will generally get very satisfactory results.