Bank requirements for borrowers
Today, it is not only banks, but also small credit organizations that offer a small amount of cash in loans. Announcements appear on the Internet, on the street, on radio and television. In large cities there are many offices where you can get money in just fifteen minutes. Although many organizations claim that the loan is highly likely to be approved, there are still certain requirements for the borrower.
The standard requirements for processing any loan are citizenship, registration in the region and the availability of a permanent job here. Different organizations require permanent or temporary registration.
The next important point is the age of the borrower. As a rule, the bottom bracket is twenty-one years. Sometimes a loan is issued from the age of eighteen. The maximum age of the borrower is seventy-five years after the expiration of the loan agreement. But, as a rule, this age limit is much lower. For men, she is sixty years old, for women – fifty-five. For older people, some banks offer loan programs on special terms.
Note! Analyzing the solvency of a potential client, the loan officer will check the work experience. Ideally, the borrower should work for at least a year, and at the last place of work for more than six months.
When making a loan for a small amount, oral confirmation may be enough. If the client takes a large amount for a long period, the loan officer may ask for a certificate of income in the form 2-NDFL or in the form of the bank. In the latter case, it must be certified by the employer.
Additional criteria for assessing the borrower’s solvency
The bank may also establish additional requirements. Each financial institution has the right to establish its own rules for granting a loan to a borrower. So, many banks require official confirmation of income in the amount of at least twenty-five thousand rubles, others need ten. For some credit institutions, it is mandatory to have a city, mobile and work phone.
Since different banks put forward individual requirements, having received a refusal to provide a loan in one, you can always try to contact another credit organization.
Requirements of banks to mortgage borrowers
The requirements of banks to borrowers on mortgages. Much more difficult is the case if a potential client decided to buy an apartment on credit. As a rule, such a loan is issued for a long-term period. In addition, a large amount of money is taken on credit. And here it is not only the risk that a client takes on, which assumes large financial obligations. In turn, the bank also takes great risks, agreeing to provide a loan. That is why the bank will very carefully check the borrower for solvency.
In addition to the standard requirements for age and the presence of permanent registration in the region of residence for the bank will play a role a few more factors.
When considering an application for a mortgage loan, the loan officer looks not only at work experience, but also at the position and field of work. Thus, a person working in a promising position with a high salary has much more chances than an ordinary employee of an unclaimed profession.
Many banks require guarantors under the mortgage agreement. For some credit institutions, this is a mandatory requirement; others, if there are guarantors, will provide preferential terms for the loan.
An important role can be played by the credit history of a potential borrower. The bank is more likely to approve a mortgage loan to a client who has already used the services of credit institutions several times and at the same time made all payments in a timely manner. You can find out information about your credit history in the credit bureaus. Each client has the right to request a credit history once a year for free.
Most likely, the bank will give money to buy an apartment to a reliable client who has a promising stable job, citizenship and permanent registration in the loan processing region.