How can I qualify for a bank loan?
There are a few things that banks look for when evaluating the loan applicant. The first of these is normally credit score, which demonstrates a reliable repayment history. The second factor, and one that is equally important, is full-time employment. Self-employed consumers may qualify, but will have to provide thorough documentation of income, earnings and tax. Normally, you must be employed for at least one year at your current job.Third, the bank will calculate your debt to income ratio, using your bank statements. Consumers with a high amount of debt will be less likely to qualify for their loan.