The impact of credit card installments does not affect the mortgage loan. It mainly depends on whether there is any overdue behavior and whether the debt limit is too high. If you fulfill your repayment obligations on time after applying for a credit card installment, it will not affect your mortgage loan; if overdue repayment affects your credit score, it will have an impact on your mortgage loan. If the credit card installment has not been paid off when applying for a mortgage, and the debt is too high, it will also have an impact on the mortgage, and you need to pay it off before applying.

Things to note when applying for a mortgage loan

1. The age of the loan applicant

When banks evaluate the mortgage repayment period for borrowers, they first use their age as the Base. Generally, if you meet the loan conditions, the younger you are, the longer the loan term will be, and conversely, the older you are, the shorter the loan term will be. Under normal circumstances, "the age of the borrower and the loan period shall not exceed 65 years" are the loan periods that banks can handle for them.

2. The age of the loaned house

When a borrower purchases a property, the "age" of the property purchased will determine how many years the loan can be taken. According to bank regulations, newer properties are easier to get loans for. For example, second-hand houses with a construction period of less than 10 years have better conditions in all aspects, and banks are willing to speed up the approval of housing loans for such houses. Second-hand houses in the 1970s and 1980s are older and have relatively greater loan risks that banks can control, so banks are very cautious in approving loans for such houses.

3. The financial ability of the loan applicant

On the other hand, for applicants who want to buy a house with a loan, such as job income, job stability, savings deposits, assets, etc. The factors that banks consider are also factors that determine their own loan application time. Borrowers with stronger financial strength can consider loan options with shorter loan terms and certain repayment pressure. Like 70% of the loan plan for 10 or 15 years, or even 60% to 50%. Borrowers with weaker financial strength need to pay attention to whether their economic conditions allow them to withstand greater repayment pressure. If the bank's reputation and qualifications are better, this group of people may obtain a loan with a term of up to 80% to 20 years.