How can I get a higher amount when applying for a loan

by Mortgage January. 05,2023
How can I get a higher amount when applying for a loan


Most lenders want to get a higher amount when applying for a loan, so what should the borrower do to get a higher amount?


1. Maintain a good credit history


Personal credit reports are increasingly appreciated by banks and other lending institutions. When accepting various loan requests, they check the borrower's personal credit report and determine whether to lend based on the credit status. The main factors that affect personal credit history are bad credit cards and bad loans. If the credit history is good, the bank will provide a higher loan amount, which can usually be 4 to 10 times the personal salary. In normal times, the borrower must carefully maintain Credit, pay off credit card arrears in full and on time, or write off the dormant card that has not been used for a long time.


2. Take full advantage of the stability of your career


If it is a large state-owned enterprise with strong employees who can approve the personal wage stream 10 or more times, the reason is actually relatively simple. Unsecured loans are secured by personal credit and have higher requirements for the stability of personal income. Public service institutions The income of employees in these groups is more stable than that of ordinary small businesses, and work stability is strong. Even if there is no collateral, it is not easy to default on the loans.


3. Real estate certificate or related asset certificate


If you provide a real estate certificate or a related asset certificate, the loan amount can be increased. The original copy of the real estate certificate is not mortgaged and taken away. Since this is an unsecured loan, there is of course no need to mortgage these assets, but these assets can prove the personal interests of the lender. Economic strength and loan repayment potential are also important benchmarks for bank loans. Therefore, if you have assets, you can get a higher loan amount by providing relevant asset certificates when applying for unsecured loan. Of course, the lower personal debt ratio is an important factor affecting the quota. If the borrower already has a mortgage or car loan at the bank, the bank will usually require that the new and old monthly supply quota does not exceed 75% of monthly income.