Letters of call refer to the collection, collation and analysis of the credit position of individuals and the financial situation of individuals and families, and are reviewed by banks and financial institutions prior to their issuance. The higher the credit score, the better the credit, the easier to obtain loans from financial institutions. However, if there is a poor record of letters of call, they may be considered high-risk clients, and loan applications may be affected, in particular for house purchases. So, what kind of letter doesn't lend for a house

What kind of letter can't lend a house

1. Personal credit reports have poor records of overdue payments, arrears, tax arrears, etc。

These poor records are indicative of insufficient or unwillingness on the part of clients to pay on time. In the purchase of housing loans, banks usually judge the solvency of clients on the basis of their credit records. If there have been cases of overdue repayments, arrears, tax arrears, etc. during the repayment period, this has had a negative impact on their loan applications。

II. Personal credit reports exist where the guarantor defaults on the loan。

It is difficult for a bank to trust its ability to buy a home and repay a loan if such a situation exists in an individual credit report, indicating that the guarantor is not responsible for its own borrowing and may also mean that it is itself doing so。

III. Personal credit reports have a record of default。

The records of default that appear in personal credit reports include arrears, defaults on guarantees, recovery of actions, etc., which can also have a significant impact on home-purchase loans. The default record indicates that the client is less willing and less able to repay and that banks are not willing to take high-risk loans to such customers。

The credit system plays a very important role in individual loan applications and is an important basis for banks to determine the amount of loans and interest rates. Therefore, in the normal repayment process, an individual must pay in strict compliance with the contract and on time to ensure a good record of correspondence。