After confirming that the property you choose has bank mortgage support, the buyer should know about the bank's regulations on obtaining mortgage loan support, prepare relevant legal documents and fill in the mortgage loan application form.

2. Sign a house purchase contract

After receiving the relevant legal documents of mortgage application submitted by the purchaser, the bank will issue a loan consent notice or a mortgage commitment letter to the purchaser after confirming that the purchaser meets the mortgage loan conditions. Property buyers can sign the "Pre-sale Sales Contract of Commercial Housing" with developers or their agents.

3. Sign a house mortgage contract.

After signing the house purchase contract and obtaining the payment voucher, the purchaser signs the house mortgage loan contract with the developer and the bank with the relevant legal documents stipulated by the bank, and stipulates the rights and obligations such as the amount, term, expected annualized interest rate and repayment method of the mortgage loan.

4. Apply for mortgage registration and insurance.

Property buyers, developers and banks hold mortgage loan contracts and purchase contracts to the real estate management department for mortgage registration and filing procedures. If the house is delivered in advance, the mortgage registration shall be changed after completion. Under normal circumstances, due to the relatively long term of mortgage loans, banks require buyers to apply for personal and property insurance to prevent loan risks. Property buyers should list the bank as the first beneficiary when purchasing insurance, and the insurance shall not be interrupted during the loan performance, and the insurance amount shall not be less than the total value of the collateral. The policy was handed over to the bank before the principal and interest of the loan were paid off.

5. Open a special repayment account.

After the house mortgage loan contract is signed, the buyer opens a special repayment account in the financial institution designated by the bank according to the contract, and signs a power of attorney to authorize the institution to pay the loan principal and interest and arrears related to the mortgage loan contract from this account. The bank is confirming that the buyers meet the mortgage loan conditions and fulfill the obligations stipulated in the building mortgage loan contract.