Array

Credit Information Report for Home Loans

Must Read

Presenting Your e-Business Card

A signature file is your e-business card and should be attached to the end of all your emails including...

Understanding Obama’s Home Mortgage Refinance Or Modification Stimulus Plan

The recent announcement of President Obamas "Making Home Affordable" plan will allow millions of current homeowners the chance to...

DUI Attorney – What You Should Expect After Being Caught For DUI?

No matter whether you have been caught driving drunk or you are being charged with the offense, you should...

Second Mortgage Loans Are Cool for Debt Consolidation and Cash Out

With the refinance boom officially over, second mortgage loans are cooler than ever. Many homeowners have been blessed with...

Native Drag-and-Drop Support

Letting users drag and drop interface elements is something we've been able to do with JavaScript libraries for quite...

WebGL

We talked about the canvas element's 2D context in this book, but there's another specification in progress that describes...
Admin
test

The credit information report, CIR as it is termed is the history of the client’s spending habits over the past months. This is considered as one of the most important documents during the processing and approval of home loans. Maintaining a good credit history would help facilitate the process of application and approval of home loan.What does CIR mean? It is an account of your salary amount, take away per month. This indicates your total salary as well as for application of loan even the other earning spouse’s salary is also considered. The total expenditure incurred during the previous months and the remaining part of the amount as savings. Also whether the client has repaid on time or defaulted counts during the approval of the loan. Hence if the borrower has to apply for a loan one has to be thorough with financial matters. All bills and taxes must be paid on time. The credit card amount has to be paid on every monthly basis. Expenses have to be curtailed leaving a substantial amount remaining as savings. Many different types of loans like vehicle loan, personal loan and so on indicate that you have compulsory repayment schedules and this may affect negatively your chances of loan approval. If many applications for loans have been applied then this would also indicate that the amount of repayment may become a big one every month and this may be considered as a negative point from the side of the lender.Having the credit card and not spending much is the best as this shows that you are financially secure and all your expenses are handled without the use of credit card. Also one must remember that there is always a high amount of interest rate applied to this amount used as credit.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Digital Marketing for Beginners

Digital marketing for starter, Let to basic learning about connecting with your audience in the right place...

What are 7 things poor people do that the rich don’t?

1. poor people watch TV in which people read books how many hours you spend in front of the TV and when...

Top 18 best small business ideas for beginners starting

A small business can be frightening and requires plenty of careful planning there are many small business ideas which can be beneficial...

Summer that makes you happy

We saw were already here I've been thinking about some of the things. I used to do with my husband even though...

4 Point to helpful tips specifically for caregivers

What you need to take a vacation. I know it sounds impossible creative and try to make it work for you almost...

More Articles Like This