Indicate your desired loan amount and choose your loan term payment, take note that actual loanable amount is totally dependent on your credit rating. Credit rating is simply the creditworhtiness of the borrower to pay a loan amount in specific period of time. A poor credit rating indicates a high risk of granting loan to borrower,and thus leads to lower approved loan amount or even cause loan declined. Each bank uses different way to to calculate credit rating,its explain why approved loan amount vary between bank to bank. Yet it is safe to assume that the actual loanable amount that will be approve to a borrower may range from 2 to 5 times of its take home pay or net pay.
Topic: Loan Information
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