Do you need to take out a loan to buy a car or a property? To obtain credit easily from a bank, there are tips. No need to have a high income to have your file accepted. Banking organizations take into account other criteria in addition to the amount of salary, find out which ones. We explain how to put the odds on your side to get a consumer loan or car loan. Borrow money to build or buy a house with our advice.
take out a loan, the bank’s criteria
You can absolutely qualify for a loan with a modest or intermediate salary. In fact, the bank takes into account the maximum debt ratio. That accepted by banking organizations is 33%.
Be aware that the bank is not satisfied with this data alone to choose whether or not to grant you a loan. It also determines the rest to live, this is the amount the borrower needs to live decently. To set the amount of the remainder to live, the banking establishment relies on your personal and professional situation. Existence of a co-borrower, dependent children… The rest to live varies according to the number of people who make up the family.
The bank will also verify that you have no outstanding loans. If you have already taken out another consumer loan or car loan, the bank can combine the different loans.
Tips for getting a loan from a bank
For your loan application to be accepted by a bank, you must first present a good file. Whether you have good income or not, the bank will be sensitive to your money management. Are your accounts well kept? Do you regularly have overdrafts?
The bank will also take into account your professional stability. CDIs are highly appreciated by banking organizations. The self-employed, they will have to present at least two or three years of effective work before being able to claim a large loan (mortgage, for example).
To put the odds on your side, ask for a reasonable sum instead. Undemanding requests are more easily successful. By being less greedy, you will also benefit from a low borrowing rate.
In the case of a home loan, the bank will be very sensitive to your savings capacity. If you have savings aside, the banking organization will sympathize with the efforts. Indeed, a personal contribution is always highly appreciated, even if it is not compulsory.
When you approach the banks to present your project, choose the right time, that is to say when your account will be provided. If you make a request while being in the red, your file risks being rejected!
And before taking out a loan from a bank, approach several and compare the different offers. A broker can also do this work for you, taking into account your personal and professional situation.
Read also: How to get a car loan easily?
