The frist step

GUIA DESIGN OFFICE
6 時間前
読了時間: 2分

1st, Please check this video

This is easy-understanding video

https://video.wixstatic.com/video/bd7d40_6e89fc525b6d4595a27b587ff1fb8c1d/1080p/mp4/file.mp4

The first step

When people want to buy a home, many of them start by looking for houses. But if you plan to buy a house with housing loan, that is not the first step.

The first step is housing loan pre(1st)-screening.

Why ?

Housing loan is very different from a car loan, a credit card loan, or a phone payment plan. The amount is much bigger, and the repayment period is much longer. The bank checks very carefully. So not everyone gets approved for it.

At the pre-screening

the bank will check current and past

・borrowing status

・payment history

・credit card usage, including revolving payments and installment payments

They will check all of them. And then, they will decide whether you may qualify for housing loan.

Housing loan usually has 2 screening steps

Pre-screening(1st) is

just " whether you may qualify for housing loan"

Final (2nd) screening is

the bank will check how much you might be able to borrow based on your

・existing loans

・payment history

・annual income

・employment status,etc

It is more detailed than pre-screening.

Even if you pass pre-approval, you may still be declined at the final stage.

Not house first. Pre-screening first

So, if you look for houses first

・You don't know your actual budget.

・You don't know if you can get a loan.

・You can't proceed even if you find a house you like.

These are the kinds of things that can happen. So if you start looking for houses without doing this, you're likely to waste both time and effort.

In short,

the first step is you need to do pre-screening to confirm your current situation.