There are several check items in the examination.
Banks (financial institutions, etc.) will check the following when examining housing loan.
1️⃣ loan history
2️⃣ yearly income
3️⃣ repayment burden ratio
4️⃣ employment status
5️⃣ age
6️⃣ others
1️⃣ loan history
It will be the most important part of the examination. The bank will check your past and present loan delay and unpaid status. It's different from a credit card or car loan,etc. and it's a detailed check. Also, if there are many existing loans, the examination will be strict.
existing loans : Cars, mobile phone fee, credit card installments, revolving payments, cash loans, etc. are all existing loans.
2️⃣ yearly income
income for the year. In addition to regular work, part-time work on weekends and various allowances received from the city hall can also be regarded as income.
3️⃣ repayment burden ratio
The repayment burden ratio (repayment ratio) is the balance between yearly income and repayment amount (loan amount). Generally, it is considered to be around 25% to 35%. Of course, if you have an existing loan, the monthly repayment amount of that will also be included in the calculation. If your existing loan amount is large, the amount you can borrow will be significantly reduced. The calculation method will be a special method.
Simply put, existing loans also affect the housing loan examination.
4️⃣ employment status
Employment type (regular employee, contract employee, temporary employee, part-time employee, etc.), length of service, workplace size, etc. are subject to examination. In the case of general banks, the employment form must be a full-time employee and the length of service must be one year or more.
5️⃣ age
Usually, it is reviewed in 35 years. Around 80 years old is the age at the time of final repayment. In general companies, the retirement age is around 65 years old, so it is better to review at around 30 years old. The older you are, the harder it will be to judge. Also, if you are too young, the examination will be difficult.
6️⃣ others
Other requirements include family circumstances, property details, health conditions, etc.
Family status: Family composition such as spouse and children, number of dependents, income of spouse, etc. will be confirmed. The larger the family, the higher the cost of living, so it is likely that the screening will be stricter.
Property: New houses and used houses are screened differenty. If the price is the same, used houses will be subject to stricter screening.
Health: Life insurance is included in the housing loan. Basically, the examination will be strict if the health condition is not normal. Also,if you have a serious illness or disability, you may not be able to screened.
Comprehensive
Housing loan examination will review comprehensively based on these contents. 1️⃣ and 3️⃣ are especially important.
How to inquiry
If you want to ask in detail,
facebook messenger m.me/guiadesignoffice
Emai address consult@guiadesign.com
This site www.guiadesign.com/dream
Please feel free to contact us.
🇯🇵 A national qualified expert try to give you
advice that suits your current situation.
GUIA DESIDN OFFICE
Ibaraki Association of Architectural Firms
B5464 0309