When applying for a loan, it is normal to have doubts about what entities take into account to grant a loan. So if you ask yourself this question, do not continue with the doubt because we reveal what you need to know.
Loan: what do entities take into account to give it?
There are several factors that are key and that financial institutions look to give or not give a loan to their customers. The main ones are the following:
Having a stable job gives you many ballots for the bank to grant you the loan. And it is that in the eyes of an entity, it is not the same to have an indefinite contract than a work contract. So, in general, officials usually have it much easier than freelancers to get financing.
Solvency is another of the main parameters to consider. It refers to the financial capacity to cope with the payment of debts. To find out, banks usually analyze your salary, bank movements, etc. If you have savings and money to live a long time at your current pace, you may receive the personal loan what you want to apply for.
Third, there is the capacity to save. It is an important criterion that is a little linked to the previous one, but it is essential to know whether or not to give a loan to a client. In many cases, the entities analyze the patrimony of the client or if there are properties free of cartoons to use as collateral.
Purpose of the loan
Although this factor is not as important as others, it is also important, since the bank needs to know what you are going to use that money for. It is not the same to ask for money to refinance a debt than for some studies.
Financial institutions also take into account the level of indebtedness of a person. Therefore, before granting a loan, they analyze the debts that are pending: mortgages, card financing, other loans, etc. The less products you have contracted, the more ballots you will have.
What else is needed to know if I get a loan?
Once you are clear about all this, it is important that you get down to work to apply for your loan. That is why many financial institutions will ask you for paperwork such as the following:
- Last payroll and income statement : this allows them to know if you have a stable salary and / or what you earn annually.
- CIRBE data : banks usually consult the data of the Central of Information of Risks of the MoneySparks Bank to know if you have more debts.
- Property deeds: if you have any property, they could ask for the deeds as an additional guarantee.
With Astro Finance everything is easier!
With Astro Finance you will not have to submit paperwork for us to give you a credit. You will simply have to register and connect your bank accounts so that we can calculate your credit score; and from it we will know what your financial capacity is to offer you an amount of money and under what conditions.
You can request between 750 and 50,000 dollars for whatever you want : studies, renovations of a house, carry out a project, pay the dentist, buy furniture, etc. What you want. And to be returned in a term and in installments that fully adapt to your current needs.