The bank will check the source of the down payment. When applying for a loan, customers need to submit proof of flow, down payment receipts, and bank cards in their name to determine the source of the down payment. According to bank regulations, the down payment must be the customer's own funds or provided by immediate family members, and cannot be loan funds. Once the bank discovers that the money paid by the customer when paying the down payment came from a loan or was withdrawn from a credit card, it will consider that the customer's economic life is unstable and does not have sufficient repayment ability, so it will directly refuse to approve the loan.

How do banks determine where the down payment comes from

1. Check bank statements

House prices are relatively high now, and a 30% down payment requires at least hundreds of thousands. , if the down payment is collected through online loans, credit cards, etc., there are usually transaction records, and the bank will follow the clues based on large transactions to inquire about the source of the down payment.

2. Check the lender’s credit report

When approving a loan, the bank will check the lender’s credit report to see if there are inquiry records of P2P and small loan companies, as well as the lender’s Check whether there are consumer loan records and large credit card purchases under your name before applying for a mortgage.

3. Check the credit of the same person as the repayer

If you buy a house as a family unit, the credit of your spouse, parents, and children will be checked, and their names will also be checked. Whether there are consumer loan records, large-amount credit card purchases, etc., and check their transaction records to see if there are large-amount transfers, etc.

In addition to the above three query methods, the bank will also check the applicant's big data, which will include various recent income and expenditure data of the borrower. Don't doubt the bank's investigative capabilities, so before applying When taking out a loan to buy a house, don’t commit fraud.

What to do if the bank finds out there is a problem with the source of the down payment

1. If the source of the mortgage down payment fails to pass the review, the customer can contact the customer service of the handling bank to inquire about the specific reasons for the rejection, and then Supplementary information (such as statements, deposit certificates, etc.) proves that the funds for the down payment are indeed your own money, not money from a loan.

2. In addition, customers can also try to increase the down payment and reduce the loan amount. This behavior will also help increase the probability of mortgage approval.

3. The down payment must be made with your own money, which can be salary income, financial income, dividends, bonuses, etc., or it can be transferred from spouse, parents and other immediate family members. But it must not come from a loan.