1. If I currently have a balance on my credit card, can I get a loan to buy a house?
First, as long as it is not overdue, there will be no impact. Only late payment will affect your personal credit. Mortgage loans evaluate your overall situation
1. Your personal credit situation is good.
2. Have a stable source of income.
3. The age of the property is generally controlled within 30 years. If the monthly repayment of the credit card plus the monthly loan repayment is less than 70% of the monthly income, it will not affect the home loan.
Second, as long as you repay your card debt on time, it will generally not affect your loan. Negative information on your credit report is not permanent and will be restored within five years of repayment. Generally, when a bank conducts a loan review, it will check your personal credit report. This personal credit report will definitely include information about your credit card, and any outstanding payments will also be reflected in the report. If there is an overdue loan on your credit report, it will have a certain impact on your loan and make the bank doubt your creditworthiness. Whether credit card debt will affect the mortgage loan depends on whether there is any negative information such as overdue repayment recorded in the personal credit report. If there is negative information, it will have an impact.
2. If I currently have a balance on my credit card, can I get a loan to buy a house?
You can get a loan to buy a house.
Credit cards themselves are used to make purchases in advance. So it has nothing to do with the current debt you owe. As long as you have good credit (pay back on time), you can get a loan. If you have overdue repayments in the past, even once, the loan will probably be very troublesome.
If the overdue amount of credit card debt is small, it will not have much impact on the loan. Before applying for a loan, the bank will check the borrower's personal credit record. If there is an overdue bad record, your loan will be in a lot of trouble. Even if it can be applied for, the interest rate is expected to rise relatively high (10-10% of the base interest rate) -50 upwards).
At the same time, depending on the amount of loan you need and the purpose of the loan, the bank will check your personal flow, personal assets, etc., and even some will check your character. Each bank has different priorities. Some basic information is shared between them. Therefore, you must maintain a good card usage habit and do not enter the blacklist in the credit report.
3. If I currently have a balance on my credit card, can I get a loan to buy a house?
You can get a loan to buy a house.
Credit cards themselves are used to make purchases in advance. So it has nothing to do with the current debt you owe. As long as you have good credit (pay back on time), you can get a loan. If you have overdue repayments in the past, even once, the loan will probably be very troublesome.
If the overdue amount of credit card debt is small, it will not have much impact on the loan. Before applying for a loan, the bank will check the borrower's personal credit record. If there is an overdue bad record, your loan will be in a lot of trouble. Even if it can be applied for, the interest rate is expected to rise relatively high (10-10% of the base interest rate) -50 upwards).
At the same time, depending on the amount of loan you need and the purpose of the loan, the bank will check your personal flow, personal assets, etc., and even some will check your character. Each bank has different priorities. Some basic information is shared between them. Therefore, you must maintain a good card usage habit and do not enter the blacklist in the credit report.