To acquire a mortgage loan it is necessary to comply with all the requirements indicated by the financial institutions
One of the most important and that you have surely found in all your quotes is: have a good credit history.
To comply with this requirement, the applicant must have good references from other banking entities with which he has worked and not be considered a delinquent person.
What is late payment?
The delinquency in credits refers to the lack of payments or delays in them, during a loan period.
That is, the debtor has not fulfilled the obligations he has with the creditor in the established times, generating that the latter, catalog him as a delinquent person.
The term of delinquency is applied for different types of credit (not necessarily mortgage).
Therefore, fulfilling your obligations in time and form in all financial institutions with which you have contracted a loan will be very important to avoid being considered a delinquent person.
How does late payment affect the application to a mortgage loan?
Late payment will have a great impact when applying for a mortgage loan because one of the fundamental requirements is not to be a delinquent person.
Financial institutions will not lend to a person with bad references
Then they will choose to put obstacles at the time of the application, which could lead to the rejection of the application.
Now, although you have been left to duty very rarely there are banks in which you can still be rejected.
This is because certain institutions do not approve applications to people with a certain degree of delinquency .
So, if I am listed as a delinquent person can I get a mortgage loan?
The answer is yes! You can obtain a mortgage loan, but you will need to consult with experts in the field that will guide you step by step.
In Jess Polly, we have specialized personnel that will attend you personally and will find a solution to all the delinquency problems that you have. Call us now!