What is the preliminary approval of the loan?

 What does it mean to get a preliminary approval check from the bank when you apply for a loan? 

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There are several different ways to apply for a housing loan or a mortgage loan . By going to the branch, via SMS, you can apply online through credit comparison sites.

When you apply by a method other than to go to the branch for convenience and speed up the process, the bank makes a preliminary assessment about you and makes a positive or negative return accordingly. This pre-assessment is based on the information you provide, such as a credit rating , that is, your previous payment history, your relationship with the banks and other banks that you apply to, and data such as your income.

If you do not pay your credit cards and your previous credits in time, if your credit rating is not sufficient, in other words, black list , unfortunately your application results in a negative result. Again, if you think that your income is not eligible to pay the loan at the amount of loan and the term of your loan, this also causes a negative result. If the loan application does not receive a prior approval, the bank will not give you credit.

If your KKB score is low, you can raise your credit score by applying these recommendations and re-apply. In addition, a preliminary approval from a bank does not mean that it will not come from other banks. You can also try other banks. At this point, you need to pay attention to the other, without resorting to the result of a bank.

CREDIT PRE-APPROVED?

Banks may be able to conclude a credit pre-approval if your credit note and income are sufficient for your information. However, pre-approval does not state that you have the right to use credit. This only shows that you've passed the first phase. You are expected to go to the bank with more detailed documents at the next stage for the formalization and proof of the information you have given. The necessary documents for the mortgage and the necessary documents for housing loans are available in these articles.

PRE-APPROVAL OF CREDIT

When you apply for a personal loan from the bank where your own salary lies, they may not ask you to receive any extra income certificate. In addition, if your income and credit rating are insufficient for the amount you are applying but are considered sufficient for a lower amount, the amount of credit you can get is pre-approved.

PRE-APPROVAL OF HOUSING CREDIT

In the case of housing loan applications, the pre-approval process is longer than the need loan. The reason for this is not only the documents requested from you, but also the status of the house. It is determined by the bank and the appraiser to determine whether the house is suitable for the loan and the value of the house. If you are wondering which houses will be used for housing loans, you can get information from this article.

WHY DO I DO NOT GO CREDIT?

The reason why your credit is not approved even though you have received pre-approval is that the information you specify during the loan application in general does not match the documents you submit. For example, if you entered your income more than the number you can document, you may not be able to get a loan despite the initial approval. In another case, if the mortgaged mortgages are not eligible for credit, a negative result may be encountered.