When applying for a property purchase, many faced a major challenge: payment. It is well known that the purchase of a house requires a significant down payment, which is not a small amount for many. In order to be able to cover the expenses easily, many would choose to pay with a credit card. But if your mortgage is in the process of approval, can you use a credit card at this time? And then we're going to do it from multiple angles。

Can you use a credit card during the loan approval

In objective legal terms, the use of a credit card for payment does not affect the approval of a mortgage, which, after all, is not directly related to the mortgage from a legal point of view. However, this is based on your payment at the prescribed time. If you miss the credit card payout deadline due to late payment of money, it will have a very negative impact on your letter record. If, for example, there are irregularities in repayments during your application, this will have a direct impact on the approval of mortgages。

In addition, credit card repayment cycles are relatively short and the use of credit card payments may cause financial pressure in a short period of time, especially when the down payment of a mortgage cannot be obtained by the repayment date. If the lending bank asks for a check of recent bank statements and letters of credit, the amount you borrow in the near future is much higher than the normal level of consumption, which may also be of interest to the lending bank。

There is also a need to note that, in the process of applying for a mortgage, a large amount of documentation, such as proof of real estate, application material, is required. If a credit card is used at this time, there will be significant water flow records, which may create difficulties in processing credit cards later。

In the light of the above, it can be found that the use of credit cards during the course of the mortgage approval is not an absolute answer. If you were able to pay off the credit card before the repayment period and did not use the credit card when applying for the loan, the problem would not arise. But if you use a credit card, it should be understood that your repayment records will be reported to the credit records by the next repayment date, that they will be too early or overused and may affect your approval of the loan。

In the use of credit cards, it is important to note that:

1. The credit card shall be adjusted in consultation with the bank to ensure that no excessive consumption is made during the period of application for a mortgage。

2. To be familiar with their own repayment cycle and to have to develop a practice of timely repayment not only to maintain personal credit records, but also to avoid the negative impact on the approval of banks when applying for a mortgage。