One of the most important information requested from consumers who request credit is income status. It is one of the most important factors playing a role in how much credit can be withdrawn and how much income is, and the income document is among the documents that must be submitted.
It is understandable why the consumers who want to use credit with higher limits would want to show their income high due to such importance, in this context, it would be useful to briefly mention whether it is a problem to show high income in loan application.
Can I Show High Income?
It is not possible in most cases to show the income more than it is, because it focuses on the premium earnings reported to the SSI rather than the income document submitted before the banks allocate credit to consumers through e-Government. Of course it also takes into account the income document, but the priority is always the earnings reported to the SSI.
In this context, it is not possible in most cases to submit a higher income with an income document, but there is no problem in declaring this.
Would it be a problem to show high income?
Regardless of whether it is made from the call center, website, mobile branch or branch, consumers can say their income as they wish and there is no problem in this, but you should be able to document it when the bank requests that it be documented .
I said high income, what if I cannot document it?
If you showed your income higher than it was during the loan application to the bank and you cannot document it at the moment, it is the rejection of your loan application. The most important result of your loan application being rejected is the decrease in your credit rating.
Showing Additional Revenue
It is possible for consumers to present their additional income, which is different from the business they always work for. Additional acceptable income must be regular. In this context, if you document the regular additional income you have obtained and report to the bank, these can be counted as your income and in most cases it is possible to document the additional income (due to the receipt of premiums, prizes, etc. .).
Conditions of Getting Credit
Consumers who want to use credit must meet certain conditions in order to do so. The most important condition expected by consumers is a high credit rating. The higher the credit rating, the less focus will be on other factors, and higher credit may be used than previously thought. In addition:
- Being over the age of 18,
- Having regular income,
- Having worked with SGK for at least 3 months and 12 months in total,
- Obtaining consent of mortgage for mortgage,
- It should not be on the black list or administrative follow-up.
How much credit can I use with my income?
It can also be useful to clarify how much credit can be used compared to income, as it may be an important issue for consumers trying to show higher income.
The monthly installment of the highest loan that can be used in this context can be equal to half of your income.
However, this is often not the case, because a situation where consumers have a very high credit rating and every indicator is positive is rarely encountered. Therefore, banks often make it possible for consumers to pay between 25% and 30% of their monthly income.
In this case, the highest loan amount that a person with an income of 2400 USD can use is 14400 USD for a 12-month maturity, 28800 USD for a 24-month maturity, 43200 USD for a 36-month maturity and 57600 USD for 48-month maturity. However, banks will often prefer to pay the same person 7200 USD for a 12-month maturity, 14400 USD for a 24-month maturity, 21600 USD for a 36-month maturity, and 28800 USD for a 48-month maturity.