What are the reasons why the loan cannot be approved after buying a house? What should I do?

Generally speaking, after applying for a housing loan, the loan will be approved as long as the borrower meets the conditions. The results of commercial loans are obtained within one week, and the procedures for provident fund loans are more complicated, and the review is completed in about 1 month. However, some people have submitted mortgage applications for two or three months, and there is still no news. Nine times out of ten, they were rejected. Below, I will talk to you about the reasons why the loan can't be approved after buying a house and the solutions.

First, the reasons for the failure of housing loan approval

1, incomplete or untrue information.

The first condition for the success of the loan is that the borrower's personal information and data are true and complete. If there is something wrong with the data, the mortgage will definitely not be approved.

2. There is a record of overdue repayment.

Banks not only value borrowers' personal credit information, but also care about overdue repayment records. The overdue impact of a small number of times and a small amount is not particularly great. However, if there are a large number of overdue repayment records, it is likely to affect the review of mortgage loans.

3. The borrower's age does not match.

Considering the borrower's repayment ability, banks also have strict requirements on age when issuing loans. Almost all banks will not issue housing loans to borrowers under the age of 18 and over 60.

4, debt is too high

If the borrower's monthly repayment accounts for a high proportion of monthly income, it is likely that the housing loan will not be approved.

Second, solve the failure of mortgage loan review.

1. Remediation of existing loans

If the information is not perfect, you can improve it. Or the debt is too high, the existing loan can be remedied by reducing the loan amount, extending the loan term and reducing the monthly repayment amount.

2. Re-apply for another bank.

Every bank has different requirements for mortgage applicants. If the existing loan can't be applied, you can try to apply for another bank.

3. Negotiate with the developer to return the down payment

If both methods fail, there is only one last solution left. Do not apply for a loan, do not buy a house, and negotiate with the developer to return the down payment.