After reviewing the loan application, the bank may approve a lower amount than you expected. But you shouldn't despair. Today there are several ways to increase the available loan size.
It is necessary
- - application for a loan;
- - certificate confirming income or tax return;
- - availability of collateral;
- - the consent of the guarantors or co-borrowers;
- - documents confirming the right to a government subsidy.
Instructions
Step 1
The maximum loan amount is determined by banks based on the borrower's income, as well as an analysis of the risks associated with issuing a loan. It is these factors that you should pay attention to when forming your own strategy for increasing the loan amount.
Step 2
When assessing the solvency of the borrower, the bank proceeds from the fact that after paying the monthly loan payment, he must have a sufficient amount for living. Each bank has its own idea of sufficient income. This can be a payment limit of thirty or forty percent of the total family income. Therefore, if the borrower's income does not allow him to receive the required amount, then perhaps the option of lending for a longer period is suitable for him. This will reduce monthly loan payments and reduce the borrower's debt burden. Often, banks independently voiced proposals for credit limits, based on the term of the loan. For example, they approve of 50 thousand rubles. for a year and 100 thousand rubles. - for 2 years. Therefore, no additional steps are required to extend the loan term. But it is important to take into account that the longer the loan term, the higher the amount of the overpayment.
Step 3
Many in our country have unofficial sources of income that are not reflected in certificates and declarations. Meanwhile, they can own a considerable share in the family budget. If this is your case, then pay attention to banks that take into account the additional unconfirmed income of the borrower. Of course, informal receipts will not be assessed by the bank in the same way as official receipts, but they will allow them to slightly increase the amount of the loan.
Step 4
If options with an increase in the loan term and taking into account unofficial income are not suitable, then it is worthwhile to study the bank's loan program more carefully. As a rule, it prescribes the conditions for increasing the loan amount. This may be the presence of collateral, co-borrowers and guarantors.
Step 5
If you have the necessary collateral in your property, you can count on a larger loan amount. The main thing is that the subject of the pledge is liquid. It could be a car or an apartment. Loans with collateral are less risky for the bank, which is why they are used to increase the loan amount. It is also possible to increase confidence on the part of the bank by attracting guarantors.
Step 6
Another option to increase the loan amount is to attract co-borrowers. Usually this role is played by spouses, parents or children. Thus, the borrower gets the opportunity to increase the total family budget by taking into account the income of the co-borrower.
This will maximize the available loan amount.
Step 7
Certain categories of borrowers can expand the maximum lending amount through government subsidies. Such an opportunity is available for young families who need to improve their living conditions, as well as for holders of a certificate for obtaining maternity capital.
