If you overdraw, it may affect the review of the mortgage. In addition, you can't cash out with a credit card during the mortgage approval period. Once the bank inquires, it will affect your credit situation and may lead to mortgage failure.
Does credit card loan or installment have an impact on mortgage approval?
Influential.
1, high debt ratio
Generally speaking, the acceptable income debt service ratio of banks is 0.5, that is, the total monthly income should be twice the total monthly debt service expenditure. Too high a credit card limit means that the applicant's debt ratio (income debt service ratio) is too high, and there are certain risks before the mortgage is approved.
2. Overdraft limit
The credit card amount is actually equivalent to the loan amount approved by the bank in advance. This amount is equivalent to a bank loan, which will affect mortgage to buy a house, especially the housing purchase with provident fund mortgage loan.
3. Reject risks
Not only credit card installment or loan may be rejected, but if credit card installment or large overdraft is carried out before credit investigation, inquiry or consumption records will be left, which may lead to the failure of mortgage approval.
How to check the mortgage?
If you want to know whether the mortgage has been approved or not, you can use the following methods to query:
1. Online banking/mobile banking:
The borrower can directly log in to the loan bank official website or the mobile banking client, and then enter the "Loan" page; Then find the application progress query portal, click in, you can query the progress of personal loans, and you can know whether your mortgage approval application has passed.
2. Customer service telephone number:
The borrower can call the customer service hotline of the lending bank or lending institution to apply for the approval result from the customer service staff. As long as the customer service staff verifies their identity, they will help with the inquiry.
3. SMS notification:
After the general mortgage approval results come out, whether it is approved or not, lending banks and lending institutions will send text messages to borrowers, and borrowers can check whether they have received text messages directly on their mobile phones.
4. Counter:
Borrowers can also go directly to the branches of loan banks or the counters of business departments of loan institutions to find staff to make inquiries. However, this method may be a little more troublesome than the previous ones.