1. Credit score: Banks usually refer to the credit score of loan applicants when deciding whether to approve housing loans. Credit score is an index calculated according to personal credit records and repayment records. Although overdue records will have a negative impact on the credit score, it is not the only determinant.
2. Repayment ability: Banks will also consider the borrower's repayment ability. In addition to the credit score, liabilities such as income and job stability will also evaluate the repayment ability of the applicant. If the borrower can prove that he has enough income and the ability to repay the loan on time, the bank may approve the housing loan even if the credit card has an overdue record.
3. Down payment ratio: Some banks or financial institutions may require borrowers to provide a higher down payment ratio to make up for the risks caused by overdue records. This means that borrowers need to pay more cash as a down payment to reduce the risk of banks.
To sum up, even if the credit card has an overdue record, you can still borrow money to buy a house. However, it should be noted that overdue records may have an impact on loan conditions, and banks may require a higher down payment ratio to reduce risks. Before applying for a loan, it is recommended to consult with banks or financial institutions to learn more about their requirements and conditions.
Extended data:
Credit score is an index calculated according to personal credit records and repayment records. Common credit scoring models include FICO credit score and VantageScore credit score. The personal credit scoring system is mainly operated by the Credit Information Center of the People's Bank of China. These credit scoring models usually consider credit records, overdue records, debt burden, repayment ability and other factors.
In addition to the credit score, the bank will also consider other factors of the borrower when deciding whether to approve the housing loan, such as income source, job stability, debt situation and so on. Borrowers usually need to provide relevant supporting materials, such as income certificates, employment contracts, bank accounts, etc.
Before applying for housing loans, borrowers can actively take measures to improve their credit status, such as repaying debts on time and reducing unnecessary debts. In addition, property buyers can consult a number of banks or financial institutions, compare their loan conditions and interest rates, and choose the most suitable loan scheme.
Summary:
Even if the credit card has an overdue record, you can still borrow money to buy a house. When deciding whether to approve the loan, the bank will comprehensively consider the borrower's credit score, repayment ability and other factors. The borrower may need to pay a higher down payment ratio, and the loan conditions may be affected to some extent. Before applying for a loan, it is recommended to consult a bank or financial institution to find out their specific requirements.