Is it useful to find a guarantee company if the mortgage cannot be approved?

It is impossible to find a guarantee company for mortgage approval. The guarantee company will provide joint liability, so that the bank will think that the risk of bad debts is low and be willing to mortgage. However, looking for a guarantee company needs to pay a certain guarantee fee, which is also a big expense for the lender. Moreover, it is necessary to choose a guarantee company with formal qualifications to confirm whether the guarantee company's ability to undertake the guarantee responsibility is reliable. Generally speaking, as long as the mortgage application conditions are met and there is a certain ability to repay the principal and interest, the mortgage application can basically be approved.

What is the impact of the guarantee company's loan to buy a house?

When buyers buy a house, looking for a guarantee company to guarantee their mortgage will not bring any adverse effects. On the contrary, because the mortgage of buyers is guaranteed by professional guarantee companies, the chances of approval can be increased.

After all, banks don't have to worry about the situation that borrowers can't get their money back when they can't repay. If the buyer can't afford it, the bank can go to the guarantee company.

Therefore, if buyers are worried that their mortgage will be easily rejected by banks, they can try to find a guarantee company to guarantee their mortgage. Of course, in addition to looking for a professional guarantee company, buyers can also find family and friends with certain assets and financial resources and good credit as loan guarantors (of course, loans do not have to be guaranteed to pass the examination and approval, mainly depending on the bank's audit and evaluation results).

If the property buyers have good credit conditions, they can apply directly without looking for a guarantee company or guarantor. For customers with good credit and the ability to repay the loan principal and interest on time, banks usually approve the mortgage smoothly.