Anyone who has a dream of home ownership knows how difficult it is to have credit approved to finance an apartment. Even with all the paperwork in hand, it is possible not to have the funding released.

The Right Options

It is not enough to have a salary compatible with the value of the apartment you want to buy. In addition to proof of income, banks and lenders use other criteria to decide whether or not to finance. In case of the Permitted development finance  this is important.

• One of these criteria may be the credit score. And a lot of people wonder if there is a minimum score to get the funding. This number does not exist, because the score is only one of the evaluated items.
• To help those who want to improve their chances of financing an apartment, we have separated 7 valuable tips.

Check out how your social security number is

Being negative is one of the points that creates the most difficulty to be able to finance a property. Therefore it is important to check if there are any restrictions or notations in your name. You can consult your CPF for free and without leaving home. Enjoy and see how to clear the name in 2 steps.

Have you consulted your social security number today?

Open Positive Registration

One of the first points to being able to finance an apartment is to have a good credit history. So, making your Positive Registration and paying bills on time can help you get the funding. Here we explain how to open the Positive Registration and have a history of your credit.

Have an account with the bank where you will apply for funding

This point is critical to having relationship. The longer you are a bank customer, the More Resources of Development Finance credit history you have with your bank. This will allow the institution to know how much money has been circulated to your account and to better assess your potential to repay the loan.

Get your payments on account

For both those who have signed and self-employed, this is an important tip. Having a payroll account or depositing all the money earned in the bank helps aids in the bank’s assessment.

You will be able to use your account movement statement to prove your income in recent months. This will make it easier to demonstrate your budget.

Check your score

Among the various criteria that banks and lenders may or may not use to approve a loan is the score. One tip is to consult your score before applying for funding. So you can check your score yourself and what you can do to increase your score. You can even use your score as an argument to improve the conditions offered by the bank.