When buying a house with a loan, you may encounter a situation, that is, you paid the down payment and signed the loan contract, but the loan can not be approved for various reasons. What should you do in this situation?
1、 How to buy a house without a loan
1. Check the reason why you can't get your mortgage
If your housing loan is unfortunately rejected by a bank or loan institution, you should first find out the reason why you are rejected. Generally speaking, the reasons why housing loans are rejected are as follows: failing to pass the credit investigation; Doubtful repayment ability (income flow); There are problems with hard indicators such as age, occupation and position.
Under the current circumstances, the bank's assessment of the lender's repayment ability is very strict. If your bank flow and other information cannot reflect your sufficient repayment ability, the bank may not refuse you, but may reduce the loan limit; However, if the bank finds that the lender has overdue repayment records in the credit investigation, the loan difficulty will be greatly increased.
If the lender is over 50 years old (now some banks have relaxed the age limit of the lender), it will also increase the difficulty of lending. In addition, if you buy a second-hand house, the loan amount of the second-hand house with a long building age may be reduced, and the loan may be refused directly in case of strict banks.
In short, if you have all the influencing factors mentioned above, it is common sense for housing loans to be rejected. Of course, if it only accounts for a few of them, but the situation is serious, it may also be rejected.
2. Now that you know the reason why the mortgage can't be done, how can you remedy it
01. Deposit money in the bank
In fact, for those friends who are ready to buy a house with a loan, Xiaobian has always suggested that they should deposit a large amount of money in the target bank before applying for a house loan. Why? Because more money is deposited in the target bank, it is easier to obtain loans and interest rate concessions.
02. If you have questions about personal credit investigation, ask more banks
As the saying goes: eggs can't be put in the same basket. The same is true for applying for housing loans. If personal credit investigation affects the loan amount, buyers can try to change a bank loan. Under normal circumstances, different banks have different lending policies, and the requirements of some banks will be relatively relaxed.
03. Find a guarantee company
If your qualification is really not very good, but you especially want to buy this house, you can find a guarantee company for a loan. It should be noted that the cost involved will be higher than that of directly going to the bank for a loan. Because the guarantee company not only needs the borrower to pay handling fees, but also needs to pay guarantee fees, interest fees and other expenses.
2、 If you can't get a loan to buy a house, can you refund the down payment
Generally speaking, if the bank loan cannot be handled due to the buyer's personal reasons, the buyer may not be liable for breach of contract. In other words, if it is due to the bank, such as the tight quota and unable to make loans, the buyer can negotiate with the seller to terminate the purchase contract, and do not have to bear the liability for breach of contract, and the seller should unconditionally return the down payment for the purchase.
In short, no matter what reason makes the loan impossible, the down payment for house purchase can be refunded. The only difference is whether the buyer needs to pay liquidated damages. Therefore, Xiaobian suggests that before signing the contract, the buyer should first give the borrower's information to professionals or banks for review to see if it can apply for a full loan, and then sign a contract with the developer.