What do you need to ask for a loan? If you are about to ask for a loan or credit , this is the question you are asking. They should know that there are requirements for the bank to grant them the credit, and that these requirements vary depending on the type of loan or credit they must apply for. That is why we explain what it takes to request a loan.
What do you need to ask for a loan?
In general, to request a loan you need a level of income, solvency and payments in addition to meeting conditions and requirements, all this varies according to the type of credit and entity, so some requirements can be very flexible and others not so much .
What is needed to apply for a Consumer Credit
In the case of requesting a consumer credit , it is one of those credits whose requirements for financing are usually easier to access between the types of loans for clients of financial institutions. Since the amounts are small and used for short-term purposes, the requirements for requesting a consumer loan are more flexible than those for other loans.
Although each bank may request some different documentation and requirement from other banks, but by granting a consumer credit, the entities seek to ensure that the client, within a certain period of time, has the money to repay the amount borrowed by that entity.
Most common requirements requested for a consumer credit:
- Have a minimum income or salary that corresponds to the amount of the loan requested
- Have the minimum or maximum age requested by law to sign contracts
- Maintain an economic and commercial history without debt
- Be Chilean or in any case have Chilean residence
- Have a minimum working age, being able to demonstrate job stability
What is needed to apply for a mortgage loan
When applying for a mortgage loan , some financial institutions have certain requirements to fulfill in order to grant them the loan. Given that a mortgage loan is a loan that has a high amount of money, and whose term usually lasts almost the entire life or much of the life of the person taking the mortgage loan , so banks usually Be more demanding in your requirements than with other types of credits.
Therefore, it becomes important to know and compare the requirements and conditions between each bank. If you need to apply for a mortgage loan from some of the banks in Chile, the most common requirements that you usually request are :
- Identification document
- Proof of service on behalf of the applicant
- Marriage book, divorce or separation sentence and living certificate, according to marital status.
- Birth certificate of children in common
- The last 3 salary settlements and company letterhead employment certificate for dependent workers.
- The last tax return and notarized earnings regime for independent workers.
In addition, the bank will carry out an appraisal of the property they wish to purchase, so they can request extra documentation, about the property or other documentation. Although they comply with the requirements and documentation to apply for a mortgage loan, they are very likely to be granted.
There are other types of credits in which by the type of particularity they may have certain special or exclusive requirements that in others do not, although in general there are minimum requirements that must be met in all and that are not difficult. Beyond that, complying with everything the bank requests, they can obtain the desired loan for the purpose they want to use it.