Can I use a credit card for consumption before the mortgage loan is disbursed?

After the mortgage loan is approved but the disbursement is not completed, as long as the user's credit card status is normal and there is an available limit, the credit card can be used normally. Since the mortgage loan review has been passed, banks usually will not check the credit report again. Even if the credit card is overdue, it will not affect the mortgage loan. Of course, although an overdue credit card will not affect the mortgage loan, it will still affect the user's personal credit report.

Therefore, users can use credit cards after the mortgage loan is approved, but during the application period, it is best for users to suspend the use of cards.

You can use your credit card to make purchases before the mortgage loan is disbursed, but do not make late payments. The on-time repayment record of your credit card will help banks better evaluate users. The normal use of credit cards will not affect the approval of mortgage loans, but try not to withdraw cash or make large purchases, because this will make the bank think that you are short of money recently.

When applying for a mortgage, you can ask the staff if you can use a credit card. If the loan bank staff reminds the user not to use the credit card during the review period or during the loan period, then the user should follow the requirements of the mortgage bank. .

Before the mortgage loan is disbursed, it does not mean that the mortgage application is successful. The bank is still conducting a comprehensive evaluation of the applicant. You can use a credit card at this time, but do not make late repayments, and do not apply for online loans or other loans. bank loan, because this will directly affect the approval of the home loan.

You can use a credit card before taking out a loan, but not later. Timely credit card repayment records will help banks better evaluate users. Normal use of credit cards will not affect home loan approval, but try not to withdraw cash or spend a lot of money, as this will make the bank think you are short of money recently. Before the mortgage is issued, it does not mean that the mortgage application is successful. The bank is still fully evaluating applicants.

Now you can use your credit card. It should be noted that do not make late repayments and do not apply for online loans or other bank loans, as this will directly affect the approval of home loans. If it is the buyer's own fault, such as having a bad record, not being qualified to purchase, providing false information, causing the loan to be disapproved, etc., the buyer violates the contract and can return the deposit, but must bear liquidated damages. The specific amount of liquidated damages depends on the contract. After the mortgage is approved, can I use my credit card before disbursing the money?

You can use it as long as you pay it back before the repayment date.

After the bank mortgage loan is approved, the credit record will not be checked before the loan is issued, because in the loan approval process, the personal credit record must be checked, and the loan will be approved only after it is qualified.

But before lending money, it is best to maintain a good personal credit record to avoid the approved loan from being reviewed again.

Extended information

The process of buying a house with a mortgage loan:

1. Select a property

If a home buyer wants to obtain a building mortgage service, You should focus on understanding this aspect when choosing a property. When home buyers learn from advertisements or introductions from salespeople that mortgage loans are available for some projects, they should further confirm whether the properties developed and constructed by the developers are supported by banks to ensure the smooth acquisition of mortgage loans.

2. Loan application

After confirming that the property of their choice is supported by a bank mortgage, the home buyer should learn from the bank or the bank's designated law firm about the bank's requirements for the home buyer to obtain a mortgage loan. Support regulations, prepare relevant legal documents, and fill out the "Mortgage Loan Application Form."

3. Sign a house purchase contract

The bank receives the legal documents related to the mortgage application submitted by the house buyer. After reviewing and confirming that the house buyer meets the conditions for the mortgage loan, the bank will issue the loan to the house buyer to approve the loan. Notice or mortgage commitment letter. Home buyers can sign a "Commercial Housing Pre-sale and Sales Contract" with the developer or its agent.

4. Sign a building mortgage contract

After signing the house purchase contract and obtaining the proof of payment, the buyer shall sign the "Mortgage Contract" with the developer and the bank with the relevant legal documents stipulated by the bank. The Building Mortgage Loan Contract specifies the loan amount, term, interest rate, repayment method and other rights and obligations.

5. Handle mortgage registration and insurance.

House buyers, developers and banks should go to the real estate management department to handle mortgage registration and filing procedures with the "Building Mortgage Loan Contract" and the house purchase contract. For off-plan properties, mortgage changes should be registered after completion. Under normal circumstances, because the mortgage loan period is relatively long, banks require home buyers to apply for life and property insurance in order to prevent loan risks. When a home buyer purchases insurance, the bank should be listed as the first beneficiary. The insurance must not be interrupted during the loan performance period, and the insurance amount must not be less than the total value of the mortgage. The insurance policy is maintained by the bank until the loan principal and interest are repaid.

6. Open a special repayment account

After signing the "Building Mortgage Loan Contract", the home buyer will open a special repayment account at a financial institution designated by the bank according to the contract. account and sign a letter of authorization authorizing the institution to pay the loan principal, interest and arrears of the bank and mortgage loan contract from the account. The bank confirms that the home buyer meets the mortgage loan conditions and fulfills the obligations stipulated in the "Building Mortgage Loan Contract". After completing the relevant procedures, the loan will be transferred to the developer's bank supervision account at the bank at one time as the purchase price of the home buyer. Can I use my credit card to pay for my house loan?

Credit cards can be used if the mortgage loan has not been processed, but it should be noted that they should not be used for large amounts and can only be used for normal consumption.

1. You can use a credit card before taking out a loan, but don’t pay it back later. Timely credit card repayment records will help banks better evaluate users. Normal use of credit cards will not affect home loan approval, but try not to withdraw cash or spend a lot of money, as this will make the bank think you are short of money recently. Before the mortgage is issued, it does not mean that the mortgage application is successful. The bank is still fully evaluating applicants. Now you can use your credit card. It should be noted that do not make late repayments and do not apply for online loans or other bank loans, as this will directly affect the approval of home loans. If it is the buyer's own fault, such as having a bad record, not being qualified to purchase, providing false information, causing the loan to be disapproved, etc., the buyer violates the contract and can return the deposit, but must bear liquidated damages. The specific amount of liquidated damages depends on the contract.

2. If the mortgage loan is not approved, but you don’t want to bear the penalty, it is recommended to only buy a paid-up house. If the loan is not approved due to reasons between the developer and the bank, the developer is responsible for returning the buyer's down payment. When signing a home loan contract, be sure to read the terms stipulated in the contract carefully. It is best to ask the developer to indicate in the contract: "If the bank cannot buy the house because the bank loan application does not reach the expected number, or the bank refuses the loan, it can exempt itself from liability and return the payment." We can avoid damaging our own interests There is no dispute when lending for our own reasons. The mortgage came through, no loan left. You can use a credit card, but you must pay it back on time and not late. In fact, credit cards can also be used during the process of applying for a home loan, which has no impact on the application for a home loan.

3. When applying for a mortgage loan, the bank will inquire about the borrower's credit investigation, which records the user's credit card usage and card number. These are the borrower's liabilities and will have a certain impact on the home loan application. However, when applying for a mortgage loan, you also need to see the proof of income submitted by the user and make a final decision on whether to take the loan. The mortgage was approved, but not approved. During this time, credit cards are available and mortgages are approved.

: Unless there are special circumstances, the user's credit status will not be inquired. The user's credit card will not be included in personal debt after use, and whether it expires or not will not affect the mortgage loan. Therefore, after the home loan is approved, the user can apply for the loan using a credit card. I would like to ask if I can’t use a credit card before the mortgage is disbursed

You can use a credit card before the mortgage is disbursed.

After the mortgage application is approved, as long as the user uses it normally, that is, repays on time, maintains a good credit record, etc., it will not be affected. Normally, after a user's mortgage application is approved, the lending institution will not check the personal credit during the loan period. However, some lending institutions will conduct a review. If there is a problem with the user's credit status during the loan period, the loan may also be turn down. Therefore, users need to repay on time.

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