It cannot be eliminated, but the bad credit record will not be followed for life. From the date when the borrower pays off all the debt, with the passage of time, it will automatically disappear from the credit after 5 years. report on.

Personal housing mortgage loan conditions:

1. Have a permanent urban residence or valid residence status;

2. Have a stable occupation and income, and good credit, At the same time, have the ability to repay the principal and interest of the loan on schedule;

3. Have self-raised funds of more than 20% of the total price of the house purchased, and guarantee that they will be used to pay the down payment of the house purchased;

4. Have assets recognized by the bank as mortgage or pledge, or an organization or individual with sufficient repayment capacity as a guarantor to repay the principal and interest of the loan and assume joint liability;

5. Have a house purchase contract or agreement, so all The purchase price of the house is basically in line with the assessed value of the bank or the real estate appraisal agency entrusted by the bank;

6. Other conditions stipulated by the bank.