RTBS Rypin – Rypińskie Towarzystwo Budownictwa Społecznego

No matter what kind of loan you apply for, lenders need to ensure that you have the capacity to repay it. To confirm your repayment capacity, they ask you to submit a lot of documents from your salary slips and bank statements to your income tax returns — and also consider your credit score. A credit score is a three-figure number that helps lenders understand how often you borrow sums on credit and whether or not you are repaying the loans regularly. Here’s why lenders ask to see your credit rating to invest in property and why it is important.

Credit ratings are specifically very important when you submit an application for a house loan

1. It can help the lending company see the borrowing from the bank behaviourFrom various items off fund you have taken in the past into of them youre paying off already (while trying to get the mortgage), loan providers are able to see the manner in which you handle credit. Credit ratings try computed not merely regarding the financing you really have pulled, however, away from how you purchased your handmade cards. Lenders will get an understanding of simply how much make use of the credit card, their borrowing from the bank utilisation ratio and you may whether you have got paid down both the credit card bills and prior and you will latest financing timely, as opposed to defaulting. As such, the financing rating brings your own lender a detailed check out exactly how your do a myriad of borrowing.
2. It helps the lender see if you have the capacity to repay the loanWhen you apply for a home loan, you need to prove your eligibility. One of the best ways to check if you are eligible is through your income sources. Czytaj więcej →