Increasing loan approval odds

4 Replies

Not sure if this is true or not. But, I’ve heard that when it comes to getting loans that at certain times of the year your odds for getting approved can go up. The proof I’ve heard for this argument is that around Christmas time banks are ready to get out there Christmas bonuses, so in turn they approve more loans around the end of the year to help reach their goals. Again I’m not sure if this is true or not just curious to see what you guys have to say about it.

Any input is really appreciated. Thank you.

Originally posted by @Shawn Ziegaus :

Not sure if this is true or not. But, I’ve heard that when it comes to getting loans that at certain times of the year your odds for getting approved can go up. The proof I’ve heard for this argument is that around Christmas time banks are ready to get out there Christmas bonuses, so in turn they approve more loans around the end of the year to help reach their goals. Again I’m not sure if this is true or not just curious to see what you guys have to say about it. Any input is really appreciated. Thank you.

Maybe, but not enough to matter. Everything still has to go through underwriting anyway and no underwriter in their right mind will risk going to jail for a few bucks. If you are credit worthy you will get a loan. If you are "sketchy", maybe not.

Merry Christmas.

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