Accumulation for house purchases is a major factor for many people, who have chosen to do so through loans. And in the course of borrowing, your letter of call is a major level. If there's no letters, can we borrow a house? Let's explore this。

Can you get a loan for a house

Can I borrow a house without a letter? As a rule, the bank will check your letter of request when it reviews the loan. If you don't have a letter record, the bank is unable to assess your credit position, and the loan seems to be difficult. But don't worry, in some cases you can get loans by some strategy。

First, if you have a stable source of income and sufficient collateral, you can choose to apply for a mortgage or a guaranteed loan. These two types of loans are provided by formal financial institutions and the credit position is not the only auditing standard. Banks may consider lending you if your collateral is of high value or if you are able to provide a reliable guarantor。

Secondly, although you do not have a letter record, if you have a stable record of bank card transactions for a certain period of time, you can also obtain a loan through an additional letter from a personal letter report. Some financial institutions can provide such credit enhancement services to assess your credit position by analysing your bank's credit flow records and thus improve your creditworthiness。

And finally, even if you don't have a letter call, if you're active in social media with a high degree of influence or good networking, these can be used as your loan clearance criteria. Today, some financial institutions have begun to consider this assessment and will collect information on your social media and interpersonal relations on the respective platforms。

Of course, there are letters that you need to know if you want to buy a successful loan:

1. Over the past two years, your personal letter report should contain no overdue records for more than three months in a row, or cumulatively for six months。

2. Nor should there be a large number of loan or search records on your personal letter of credit report。

3. Your debt position in the letter-of-assist report cannot be overstated and must be within the scope of your ability to repay, otherwise it may affect your loan application。

When you apply to a bank for a loan, the bank requires you to provide a personal credit report to determine your eligibility for the loan. A good credit position may give you a favourable interest rate, while a late record may lead to an increase in interest rates or even a loan。