I've been with loans, particularly housing loans, for over a year now. And I think that qualifies me to give some advice for those who want to borrow from the banks. Consider the following musings as free candy from your friendly, neighborhood banker but, like all other advice, especially free ones, please do take all I say with a grain of salt.
The number one thing you have to know is that we will surely find out if you've been playing naughty with your credit cards. If you have unsettled balances, don't bother applying until you've settled them all. Likewise, if you have cancelled cards, then always have a clearance on hand. Nitpick your credit card company if you have to because that clearance will surely be your lifesaver in the future.
Second, please do apply well in advance, especially if you're applying for a housing loan. No matter what the banks say about faster processing times and even faster approvals, there are still many factors which can impede your application. There are the government institutions which are notoriously slow and there are the credit findings you might not have seen coming but have to contend and deal with along the way.
Third, please do try submitting all your complete requirements. You're going to make our jobs easier if you follow this simple tenet.
Fourth, if you are a depositor of a certain bank, then go apply to that bank. You already have a head start in applying for a loan. That's because you already have an existing relationship with the institution. Later on, you would be surprised how much leverage you can get with this simple fact.
Finally, respect the process and the people. Applications, like everything else, take time. And please do respect the people who are processing the loans. Although we will try to put up with your irate mannerisms, destiny always has a curious way of throwing back at you what you throw out to others.
The number one thing you have to know is that we will surely find out if you've been playing naughty with your credit cards. If you have unsettled balances, don't bother applying until you've settled them all. Likewise, if you have cancelled cards, then always have a clearance on hand. Nitpick your credit card company if you have to because that clearance will surely be your lifesaver in the future.
Second, please do apply well in advance, especially if you're applying for a housing loan. No matter what the banks say about faster processing times and even faster approvals, there are still many factors which can impede your application. There are the government institutions which are notoriously slow and there are the credit findings you might not have seen coming but have to contend and deal with along the way.
Third, please do try submitting all your complete requirements. You're going to make our jobs easier if you follow this simple tenet.
Fourth, if you are a depositor of a certain bank, then go apply to that bank. You already have a head start in applying for a loan. That's because you already have an existing relationship with the institution. Later on, you would be surprised how much leverage you can get with this simple fact.
Finally, respect the process and the people. Applications, like everything else, take time. And please do respect the people who are processing the loans. Although we will try to put up with your irate mannerisms, destiny always has a curious way of throwing back at you what you throw out to others.
1 comment:
over a year?? wow. i'm gonna start this year pa lang Pao and thank you for sharing this. so may bahay ka na? :D
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