"Having your own house is not just a dream anymore. You may have ever seen this quote in many advertise of many Banks and financial institutions. It make many people who want to have their own house glad because they think that banks will make their dreams come true. But when they go to bank and apply for loans, their dreams shatter immediately by simple word …Disapproval."

          In order to not be disappointed in loan application, TerraBKK has the way to prepare the financial readiness before apply for loans that banks will never refuse. You have to understand that bank did not approve, beside a matter of prudence such as not ready in document (Learn more from Prepare Yourself Before Apply For Loans), there are just only 2 major reasons.           Collateral value not enough for loans Loan application by have collateral such as loans for house, condominium. Banks will appraise the value of collateral for consideration. If value not reach the amount you request, bank will disapprove loans.           Borrowers lack eligibility banks defined There’re so many reasons that banks don’t approve loans for whomever because of lacking eligibility. Each bank will has eligibility for consideration that different, but most will focus on from readiness of health and financial discipline and consider from these point as follow.           Stable career Government officers are the most likely because it is the most stable organization in this country. Followed by employees of large company that has work time at least 6 months and work in the low risk area for example, teacher who work in Bangkok and perimeter will have risk less than teacher who work in 3 southern frontier province , so teacher in Bangkok will get the approval easier.           Have an ability to pay the installment Have high income per month and when deduct expenses, it is enough for pay the installment.           No too many debts It not means you cannot have a debt; you can but not have it too much until you're almost not enough to use or save it in account. Having many debts show your unpreparedness about money managing. How much debt that considered as too much for a month? If it is Kasikornthai Bank, it will have the criteria as follow              Salary not over 30,000 Baht should not have a debt over 40% of total income.              Salary between 30,000 – 70,000 Baht, should not have a debt over 50% of total income.              Salary from 70,000 Baht and over should not have a debt over 60% of total income.           Have the savings and regular account movement Have the monthly income at least 6 months and have the savings in the account about 1 of 3 of monthly income or other incomes. It should not be the account which the money comes in and out in few days. So, the bank will suspect this account and consider as fraudulent account.          Clean Credit bureau profile No history of delinquency or blacklisted. Credit bureau shows your discipline about money spending. You can learn about it more from Credit and loan. If you have ever got blacklisted, you have to close it at least 12 months before buy the house.           Have the down payment at least 20% Generally, the bank will approve loan only 80 – 95%. The missing difference is borrower’s burden. So, you should have a sum of money to pay this part.           No history of emergency loan It seems unlikely to be taken into consideration, but many banks disqualify borrowers who ever use the emergency loan immediately because it shows about bad discipline in money spending, don’t have preparation. So, it might be increase the risk to have no ability to pay the debt in the future.

To bear the long term burden as a house, you have to be ready as major. If you be confident that you have all eligibility mentioned, you can walk to the bank and make your dreams come true.