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8 Factors Affecting Unsecured Loan Limits

Time: 2015-05-06         Source: Rong 360 original         Author: Chen Li

InUnsecured loansIn the world, the amount of loans has always been a matter of great concern to people. "I want to borrow XX million. How much money can I loan? Can I approve it?" This kind of artillery question often pushes the loan officer to the corner. "We need a comprehensive assessment based on your personal qualifications." The loan officer usually gives a rational answer.

As a matter of fact, no one can make a decision on the amount of the loan, but instead use the personal qualifications of the borrower to compare the various assessment indicators and comprehensively evaluate the results. Therefore, it is not difficult to understand: In the end, accurately predicting the final approval result is beyond anyone’s control. Then the question came, what factors did not affectMortgageApproval amount? This article gives you an overview of both hardware and software:

The hardware conditions include personal income, the nature of the unit, and the debt situation. These will directly determine the level of your loan line.

1. Personal income: Due to the consideration of repayment ability, the loan amount will be closely linked with income, which is often about 10 times of monthly income. With this iron rule, high-income earners often can compose the outcome of large-scale loans.

2. Debt situation: Liabilities are mainly reflected by credit reports, including credit cards, bank loans, and other liabilities with regular financial institutions. Also from the perspective of repayment ability, financial institutions generally stipulate that the sum of old and new monthly payments should not exceed 50% of monthly income. Based on this, this will affect the “negative second generation” loan quota to some extent.

3. The nature of the work: To some extent, the different nature of the unit makes the stability of the work of the employees a great difference. Compared with the salaried people, the employees of state-owned enterprises and institutions will be relatively popular. Due to stable work and a solid repayment ability, the loan line will be higher, often more than ten times of monthly income. By the same token, the management team is more generous than the ordinary employees and can obtain a higher multiple of monthly income. Conversely, since sales are a relatively fluid career and the income stability is poor, the loan line cannot be expected to prevail over the nature of the job and can only rely on income, the absolute “main force,” to win large loans.

4. The form of income display: Although it is either bank flowing or self-contained,Private lendingInstitutions basically all receive their orders, but in their hearts there are rod scales. The forms of income presentation are different, and the amount of loans weighed in will be different. It can be imagined that bank liquidity obtained through bank wages on behalf of the bank is obviously superior to others.

With hardware not representing the final result, the software is occupying the second most important position, affecting the loan quota to a certain extent:

5. Marital Status: Although the applicant is not required to be married, experience has shown that married persons and spouses support loans, which will be more popular in the quota. After all, this stimulates the imagination of financial institutions. Once the debtor is unable to repay, one party has Difficulties, spousal support has become a matter of course. Therefore, under the same conditions, married people have more life-saving straw than unmarried people, and the loan funds will naturally be more.

6. Family Support: Applying for unsecured loans does not necessarily require the consent of family members. However, if there is family support, the results are quite different.

7. Account location: If the borrower's account and work are all in the local area of ​​application, in the risk awareness of the financial institution, he will unconsciously give him a “safety helmet”, considering that the default cost is relatively large, run The road probability is relatively small, so the credit line approved by financial institutions is relatively high.

8. Academic qualifications: Highly educated people who know the value of personal credit because of their high level of education, will escort their personal credits with practical actions, repay their loans on time and in full, create intangible wealth, and have no education below the high school level. Most people will regard personal credit as a dispensable thing, naturally, they will not attach importance to the consequences of default, and the probability of default will be relatively greater.

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