Many people are now bearing debts, and they are often worried about the question: if my debt ratio is too high, can I apply for bank loans? Now, let us get to the point。

Too much debt affects bank loans

First, it is very clear that excessive debt ratios do affect bank lending. Why do you say that? Because in your application for a mortgage, the bank will fully assess your qualifications, including your debt ratio. If you have a high level of indebtedness, it may well mean that you are under greater repayment pressure, which is a risk to the bank and could lead to the failure of your mortgage application。

Moreover, when applying for a mortgage, the bank usually requires you to provide a certificate of income and a bank flow, and your income must be at least double the monthly repayment. If you have other outstanding debts, this strains your debt ratios, and bank-related requirements may increase with debt pressures。

So it's a wise choice to get ready for your mortgage. If you have no doubt about your income and are supposed to be able to bear the cost of a home loan, then debt pressure may not affect your housing application; conversely, there is a need to consider whether other debts should be repaid at an early date in order to lower bank requirements。

Before applying for a mortgage, you can also consult a commercial bank with personal data to assess your qualifications。

There are, of course, ways to eliminate the high level of indebtedness. For example, the active repayment of some of the loans called for at the conference, the reduction of frequent borrowing, and the immediate cessation of new and old borrowing. At the same time, in the case of temporary non-payment, access to timely and loan banks and even family and friends can be used to avoid further delays. In addition, it saves on consumption, earns as much as possible, reduces new credit cards and loan products and maintains a good consumption outlook。

In general, effective management of their debt ratios allows them to be financially confident and better able to respond to financial services。