How does a lender view your home loan?
If you want to take out a mortgage loan, you go to a lender or credit broker. Before you receive a concrete proposal from a lender, he will assess your application.
What does the lender take into account?
If you want to sign up for a mortgage loan, then you should definitely consider the following two questions in advance: * How much do you want to pay off for your home loan? * How much can you pay monthly? If the answers to both questions are clear to you, you can go one step further. You then receive a specific proposal from a lender. But before he works out such a proposal, he will examine your application. He will also take a closer look at multiple points.
Do you have a stable job?
The lender checks how long you have been active with your current employer. That gives him an idea of the stability of your job. Someone who has been working for a long time at his current employer inspires confidence.
How much do you earn?
Based on this question, the lender wants to estimate your repayment capacity. Will you be able to repay your home loan? How much of your income goes to the repayment of your home loan? How much do you have left over each month to live on and to pay other costs?
Do you have your own resources?
When you buy a house, it is also considered whether you pay part of the purchase with your own savings. If you do that, a lender is more likely to give you a mortgage loan. This can also give you a cheaper rate for your loan: the more equity you invest in the purchase of your home, the lower the rate will be. Do you have no own resources and do you have to borrow everything for your house? Then the rate will be slightly higher.
Do you have other loans or loans to pay off?
Do you have any other loans or loans in progress at the time of applying for a mortgage loan? What did you take out those loans for? This gives the lender a picture of what is important to you. This will also affect the maximum amount that you can borrow: the more credits you have, the less you will be able to borrow.
Do you pay your other loans and loans regularly?
If you have other loans or loans, a lender will always check whether these are repaid correctly. For this, the lender always consults the file of the Central Office for Credits to Individuals of the National Bank . There, lenders can see what type of loans you have, how much you have to pay and how long. They cannot see who you took out the loans with.
Do you have questions about this?
Then come and visit one of our offices in your area . Make an appointment in advance.