Can I get a loan to buy a house if I have a car loan?

A car loan is a car loan, and a home loan is a home loan. The two have no influence on each other. Under normal circumstances, if you can get a car loan, it means that your credit score is relatively good, your income is still acceptable, and you can get a home loan.

Consumer loans, also known as consumer loans, are loans granted by commercial banks and financial institutions to individual consumers based on consumer credit, to purchase durable consumer goods or pay other expenses.

Features

It has the characteristics of wide range of consumption uses, high loan amount, and long loan period.

High risk, high return, cyclical (long-term), and not sensitive to interest rates.

Types

Residential mortgage loans

Non-residential loans

Mainly include car loans, durable consumer goods loans, education loans and travel loans .

Credit card loan

Prepare loan information

1) ID cards and household registers of both the borrower and the property owner (***) Original and copy of marriage certificate (if the borrower is divorced, provide divorce certificate and divorce agreement; if the borrower is widowed, provide widowhood certificate and inheritance notarization certificate)

2) Proof of income and salary slips for the past three months, and a copy of the unit's business license The copy must be stamped with the official seal and have undergone annual inspection;

3) The property ownership certificate of the mortgaged house and the original purchase contract (original purchase invoice) and copies. The central delivery room must provide the house listing certificate;

4) The loan is for consumer use;

5) Residents from other provinces and cities need to provide temporary residence permit and long-term residence certificate;

7) The borrower’s academic qualifications are college or above and provide academic certificates ;

Note: In order to improve the success rate of borrower approval, customers can provide themselves with additional proof of income such as: deposit certificate, annual salary certificate, year-end bonus, pay stub, salary card statement, regular Select several items such as deposit slips and tax payment certificates. If the borrower is a corporate legal person, in addition to the above information, financial statements, company articles of association, unit business license, annual profit dividends, etc. can also be provided.

Key Tips

1) Loan term: 1 to 10 years.

2) Loan amount: The minimum single amount is 50,000 yuan.

3) Mortgage rate: The maximum loan amount for mortgaged real estate shall not exceed 65% of the assessed value of the collateral; the maximum loan amount for office buildings, street commercial buildings, and villas shall not exceed 50% of the assessed value of the collateral.

4) Repayment method: equal installments of principal and interest

5) Borrower’s age: The sum of the borrower’s age and the loan period shall not exceed 60 years old. The target of personal consumption loans must be over 18 years old. Chinese citizens who are 12 years old and have no bad credit records in the banking system and have full capacity for civil conduct will not accept properties owned by minors as mortgage guarantees.

6) Collateral: Commercial houses, houses, villas, shops, office buildings, etc. with full ownership rights in individual names in urban areas of Beijing and outer suburbs (the minimum building area of ??the mortgaged property shall not be less than 30 square meters).

7) Age of the house: In principle, the sum of the age of the mortgaged property and the loan term cannot exceed 30 years.

8) The loan interest rate is based on the benchmark interest rate, and a certain percentage of increase will be given based on the nature of the house and the mortgage rate; for Shenzhen Development Bank VIP customers or other key customers of China Construction Bank, the floating interest rate can be implemented.

9) When signing the loan contract and going through the mortgage registration procedures at the Housing Authority, both the borrower and the property owner must be present.

10) When withdrawing money, the borrower can bring his or her ID card to the bank to withdraw money or go to our company to handle the card withdrawal procedures.

11) The borrower must be the property owner.

Will having a car loan in your name affect your home loan when buying a house in Nanjing?

Car loans are consumer loans and will not affect the identification of first and second home loans

But Car loans are liabilities and may affect the percentage of your home loan. When reviewing a home loan, the bank will consider whether it can be covered by the car loan and the monthly payment at the same time; if the income is not enough to cover it, the bank may reduce the amount of the home loan.

If the car loan is not large and repaying the car loan will not affect the down payment of the house, but may affect the loan amount, it is recommended to pay off the car loan first.

What will affect a car loan or a home loan is the borrower's debt service rate.

The mortgage loan mainly depends on your couple’s credit record, income certificate, and asset certificate. For example, income flow, personal tax payment records, social security, provident fund, and other asset certificates (house, financial management income, dividends, etc.). But if there is no income, it will be difficult.

Does a car loan affect buying a house? What are the factors that affect home loans?

Nowadays, it is a very common way to buy things with a loan. Buying a house with a loan has become the choice of the vast majority of home buyers. Whether the loan can be successfully approved is closely related to whether we can buy the house we want. If we are not careful, we may lose the opportunity to own a good house. So, will a car loan affect the purchase of a house? What are the factors that affect mortgage approval?

Nowadays, it is a very common way to buy things with a loan. Buying a house with a loan has become the choice of the vast majority of house buyers. Whether the loan can be successfully approved is closely related to whether we can buy the house we want. If we are not careful, we may lose the opportunity to own a good house. So, will a car loan affect the purchase of a house? What are the factors that affect mortgage approval?

Will buying a car loan affect buying a house?

In principle, no matter what kind of loan application you are applying for, as long as you meet the loan conditions and prepare complete supporting documents, you can apply. There will be no impact between loan products.

What will affect a car loan or a home loan is the borrower's debt service rate. Debt servicing ratio refers to the ratio between monthly expenditures and monthly income of various types of personal debt. Banks will measure the borrower's repayment ability based on the debt servicing ratio, and then decide how much to lend and whether to provide loans to them. Generally speaking, when If the debt service ratio exceeds 50%, banks will no longer grant loans.

Therefore, if the borrower has a car loan that has not yet been paid off, due to the debt service rate, the amount of housing loan that the borrower can borrow will be reduced accordingly if the income remains unchanged, which will cause The down payment required in the early stage will be increased accordingly.

As long as the home buyer has no bad record during the mortgage and car loan process and the debt service ratio meets the standards, then there will not be a big problem with the loan to buy a house. However, if the home buyer's income is not very high and he already has a mortgage, the chance of obtaining a car loan is relatively small, and the amount of the car loan that can be applied for is correspondingly smaller.

What are the factors that affect mortgage approval

1. Personal credit record

When a home buyer applies for a mortgage, the bank will first check the borrower's personal credit If the report shows that the borrower has made three consecutive or six cumulative repayments in the past two years, the borrower's home loan application will most likely be rejected. Therefore, everyone must maintain their personal credit in daily life and pay off credit card borrowings in a timely manner.

2. Repayment ability

When it comes to the repayment ability of home buyers, in addition to personal credit records, banks will also focus on reviewing the borrower's repayment ability. If the debt is too large, , or unstable income or job, will affect the approval of mortgage loans. In mortgage loan approval, occupations with higher scores are civil servants, teachers, doctors, lawyers, and certified public accountants. Industries with strong competitive advantages are also popular, such as the financial power supply industry. At the same time, it is easier for people with higher academic qualifications to apply for bank mortgages.

3. Down payment

According to the requirements of the bank, customers applying for home loans need to have a certain proportion of down payment. Generally, the down payment ratio for a first home loan is not less than 30%, and the down payment ratio for a second home loan is not less than 30%. The down payment ratio is no less than 60% (some cities require no less than 70%). Therefore, customers applying for a mortgage must prepare sufficient down payment. Generally speaking, the larger the down payment a borrower gives, the easier it is to get approved for a loan.

4. Excessive debt

In addition to the personal credit of the home buyer that will affect the approval of the mortgage, the debt carried by the borrower will also affect the approval of the loan. For example, the monthly credit card repayment amount exceeds 50% of the monthly income, or the existing car loan and house loan repayment amount exceeds 50% of the monthly income, etc.

Therefore, before applying for a home loan, the borrower must first confirm the factors that affect the approval of the home loan, so that when applying for a loan, they can try to avoid problems that will affect the loan application.

About buying a house, especially buying a house with a loan, there are many things worth paying attention to, such as what documents need to be prepared before taking a loan (personal credit cleanup), income certificates and bank statements, and ***. Issues such as repayers, ownership of the property after divorce, and whether cheap judicial auction houses can be purchased.

Can I still get a loan to buy a house if I have a car loan?

Legal analysis: Can I still get a loan to buy a house if I have a car loan? Car loans and home loans are two different loan products. As long as you meet the home loan application conditions, you can apply for a home loan. What may affect the home loan is the repayment ability after the car loan. After the borrower applies for a car loan, his debt may be relatively high, which in turn affects the bank's evaluation of the borrower's repayment ability, but this is only for home loans. The quota has an impact and will not hinder the application for a mortgage loan.

Legal basis: Article 672 of the "People's Republic of China and Civil Code" The lender may inspect and supervise the use of the loan in accordance with the agreement. The borrower shall provide relevant financial accounting statements or other information to the lender on a regular basis as agreed. Article 669: When entering into a loan contract, the borrower shall provide the true situation of business activities and financial status related to the loan as required by the lender. Article 667 A loan contract is a contract in which the borrower borrows money from the lender and returns the loan and pays interest when due.

Will a car loan affect the loan to buy a house?

It will not affect the loan to buy a house, but it will affect the application of a loan. If you have a car loan, you must have a certain repayment ability to repay two loans at the same time. The bank will consider it. The monthly car loan payment will be deducted from the borrower's income, which may result in the home loan not being approved. If you have a car loan and want to buy a house with a loan, it is a good choice to add a co-payer.

Car loan types

Personal loan car purchase business is divided into three types: direct customer loan, indirect customer loan, and credit card car loan. The direct customer type is generally a bank car loan where the customer meets directly for the loan, and the indirect customer type is generally a car finance company car loan where the auto finance company transfers the customer to the customer.

1. For direct bank car loans, the fees collected are deposit, principal and interest, 3 guarantee fees, etc. The fees for high-quality bank customers will be discounted, but each bank has its own preferential policies. different.

2. In addition to paying the above fees for a car loan from Jianke Auto Finance Company, you also need to pay regulatory fees, fleet management fees, and warranty renewal deposits

3. With a truck loan, Credit card installment car loan only provides installment payment to bank credit card users. It cannot be applied for under any conditions. There is also an review process. It is difficult for credit card users with bad credit records to apply.

Car loan conditions

1. Have a valid identity certificate and full capacity for civil conduct;

2. Be able to provide proof of a fixed and detailed address;

3. Have a stable career and the ability to repay the principal and interest of the loan on time;

4. Have good personal social credit;

5. Hold a car purchase contract approved by the lender or Agreement;

6. Other conditions stipulated by the cooperative agency.

Car loan application materials

1. Original ID card, household register or other valid residence documents, and provide copies;

2. Occupation and economics Proof of income, personal account statement for the past 6 months;

3. Car purchase agreement, contract or letter of intent to purchase a car signed with the dealer;

4. Other information required by the cooperative agency Documentation.

Does a car loan affect a house loan?

Having a car loan affects a house loan, mainly in the following aspects:

1. Unpaid car loan Clear: If you currently have a car loan that has not been paid off, the bank will inquire about your personal debt status when applying for a home loan. When the car loan and home loan exceed half or more of the loan applicant’s monthly income, the loan will be issued due to insufficient repayment ability. Application rejected.

2. The car loan is overdue: When the car loan has a record of overdue repayment, the bank will reject the home loan application because the applicant has had an overdue loan.

3. The car loan has been settled: The car loan has been settled and will not have an impact on the housing loan. If the loan is repaid on time every time, it will also help improve the personal credit score and increase Mortgage application success rate~