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Tips To Get Approved For An Online Lainahakemus (Loan Application)

Tips To Get Approved For An Online Lainahakemus (Loan Application)

Loans are a quick financial backup whenever sudden expenditures and plans outside of your budget outline hit you and the family without warning. But it can get tricky if you apply for them without knowledge of how to actually be approved.

Visit to for more information regarding online loans, and read on for tips to get the green light for the loan you’re signing up for.

Get Approved For A Loan Quickly

1. Be Mindful Of Your Debt-To-Income Ratio

Debt-To-Income Ratio, or DTI, refers to the proportion of both your regular income and the loan amount itself (as divided into monthly repayments). Simply put, a DTI is a ratio of how much of your income will be allotted to repayments, and how much of it will be disbursed towards your regular budget.

At the same time, the term “debt” here strictly alludes to the actual loan you’re about to borrow. It does not include other outstanding debts such as your existing credit card bills, and the like.

Experts reveal that the safest DTI maximum you should aim for is 35%. It’s unclear how this number became the standard. Nevertheless, it seems to be the benchmark lenders utilise in qualifying borrowers.

Other go as far as 43%. And yes, this number is considered “acceptable”. Anything beyond this, though, is almost always doubtlessly disapproved.

Hence, be all the wiser and follow the 35%-mark.

Calculating your DTI will give you a heads-up on what kind of loan to avail of, and what amount to take out. Call it being one step ahead. You’ll avoid the runaround of applying for a loan sum that may be rejected because the DTI ratio shows you might be incapable of repaying it on a regular basis.

2. Minimum Income

Borrowers already have a vague idea that credit score and credit history are indicators of loan approval and disapproval. But what many aren’t aware of is that there are several lenders who also tag “minimum income” as another crucial qualifier.

What more, this information isn’t typically and readily available on lender websites. You are to go above and beyond scrolling through lenders’ web pages. And the process is quite simple, really— contact the lenders themselves.

Most online lending portals have chat and/or email options for potential borrowers to easily get a hold of their staff at hand. Make good of said channels and immediately ask about what their minimum income is for the type of loan/s you have in mind. You can also give them a ring. Or if they’re within your area, pay them a visit.

They should be able to give you a figure promptly. And don’t fret, because asking such questions will not be taken against borrowers. These are, in fact, encouraged, since, at the end of the day, borrowers themselves are responsible for ensuring that they commit to the terms and conditions of their desired loans.

3. Employment Requirement

This isn’t always a dead end. However, it’s good to point out that in rare instances, there are a few lenders who take this into consideration. More often than not, said lenders are less likely to release loans to borrowers who do not receive regular salaried compensation and have incomes only through child support, and other similar avenues.

Then again, verify this information with lenders. Some are less rigid in terms of allowing those who aren’t regularly employed to avail of loans, as long as they have any form of income. Additionally, they have to vouch for it via a presentation of current income-related documents.

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