Friday, 25 July 2014

Is the single has a chance for a mortgage?

When a mortgage borrows marriage, it adds up to a kind creditworthiness of both spouses. But what if the household consists solely of one person? Is being single helps, or perhaps more mind when considering an application for the granting of a mortgage loan?


Offer does not differentiate between bank lending margins and commissions making the height of the marital status of the borrower. Nevertheless, it can significantly affect the amount calculated creditworthiness. Although one can not indicate the general regulations, as the calculation made ​​on the basis of individual information provided by the borrower / borrowers.

For example, single earning $ 2,000 net will have a higher credit standing of who receives compensation in the same amount of marriage, because in his case, the salary must keep two people. The marriage will be better for the bank to borrowers, if while each spouse will be earned after 1500 . The lender in calculating the credit shall take into account the cumulative value of income, and although they will be less "per person" is, and so the calculation will be based on the indicator 2x1.500 = 3.000 . It is worth mentioning that the calculation of creditworthiness, are taken into account all the persons belonging to the household. This applies, of course, the children, the possession of which, unfortunately, may adversely affect the rate calculated capacities.

The question of confidence

Banks, however, prefer marriage. They are customers for them more safe and secure. It is linked to the occurrence of any financial problems. The single losing a job, losing at the same time source of income. In the case of marriage, when one spouse loses a job or chronically ill, the burden of repayment falls on the other spouse, and although income received will be much smaller, the borrowers are going to have another source of income.

With this in mind enough, however, to single zaciągający mortgage commitment, he decided to take advantage of insurance against illness or job loss. Consequently, the possibility of a mortgage by single depends on the particular case of the credit.

It can be concluded, however, that well-paid single, you will not have problems with obtaining financing for the purchase of its own "M".

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