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Can 25-year-old house mortgage loan?

Time: 2017-01-19         Source: Financial 360 finishing         Author: 360 Financial consolidation

25-year-old house made housingMortgageIt is generally more difficult. Banks often refuse to accept home mortgages over 20 years of age due to considerations of earnings and risks.loan.

In the past, for houses with more than 20 years of age, such as properties from 1985 onwards, the bank usually accepts applications for mortgage loans, but the loan amount will decrease. However, with the frequent landing of multiple rounds of regulation and control policies in 2010, the banks’ conditions for reviewing home mortgage loans have become increasingly stringent. There are many restrictions on housing age and personal credit qualifications. Nowadays, for real estates over 20 years old, most banks have basically rejected their home mortgage loan applications. In other words, the property before 1990 was basically unable to obtain a home mortgage loan. Although individual banks can issue funds, they have very strict requirements on applicant income, housing area, and lots.

If your house is over 25 years old, but you still want to apply for a loan, you can go to the relevant lending bank for advice. There may be individual banks that will agree to the loan.

To apply for a bank mortgage loan, you must satisfy at least three conditions:

First, prepare the information needed for housing loans. The information of the existing houses is complete. The information here refers not only to the real estate license but also to a series of data related to it. If the housing information is incomplete, it is very difficult to apply for a mortgage loan.

Second, the loan money has been paid off. In other words, the debts owed by your loan have been fully repaid. If you still have loans that haven't been repaid, and your house is more than 25 years old, it is very unfavorable for you to apply for a loan at this time.

Third, what is the location and area of ​​the house? The better the location of the house and the larger the area, the higher the chance of applying for a loan and the more loans.

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