What issues should be paid attention to when applying for a second mortgage loan?

What should we pay attention to when getting a second mortgage loan for a house? (1) Loan object The borrower must be a customer of Bank of China’s first-hand housing mortgage loan, with no interest arrears, stable income, good credit, the ability to repay the principal and interest of the loan on schedule, and has repaid the principal and interest on schedule for more than two years. (2) Loan conditions Houses used as mortgages must meet the following conditions: 1. Houses used for secondary mortgage loans should be high-quality housing and commercial buildings with great market development potential; 2. Houses used for secondary mortgages for personal housing The house for mortgage loan must be an existing house; 3. The house is a first-hand house purchased with a Bank of China mortgage loan; 4. The house mortgage registration has been completed, and our bank is the mortgagee of the house; 5. The house has been insured, and The original insurance policy is managed by Bank of China; 6. The house is in a superior location, with convenient transportation and complete supporting facilities, and has great potential for appreciation. (3) Loan currency The loan currency of the second mortgage is determined according to the specific purpose of the loan, and in principle is consistent with the currency of the original house mortgage loan. Borrowers applying for foreign currency loans must have foreign currency repayment sources. (4) Loan limit 1. Loan limit = house value * mortgage rate - principal balance of the original loan. 2. The value of the house is compared with the original purchase price of the house and the appraised price at the time of the second mortgage, whichever is lower. The maximum mortgage rate for a second loan mortgaged by a house shall not exceed 70%; the maximum mortgage rate for a second loan mortgaged by a commercial building shall not exceed 50%. The term of the second mortgage loan is determined according to the specific purpose of the loan. The maximum period for personal consumption loans shall not exceed 5 years, and the maximum period for personal business loans shall not exceed 3 years. The maturity date of the second mortgage loan shall not exceed that of the first mortgage loan. The maturity date of a mortgage loan. (5) The loan interest rate shall be the same level of commercial loan interest rate stipulated by the People's Bank of China. Foreign currency loans are subject to the same level of foreign exchange loan interest rates stipulated by the Bank of China. If the loan period is less than one year, if the legal interest rate is adjusted, interest will be calculated based on the original contract interest rate; if the loan period is more than one year, if the legal interest rate is adjusted, the new interest rate will be implemented from January 1 of the following year. What points must be paid attention to when applying for a second mortgage loan?

;? A second mortgage loan is a house that has already been mortgaged and is in the repayment stage, but it is mortgaged again for a loan because of the urgent need for funds. The second mortgage loan does not require all the loans to be paid off in advance. As long as the home can pass a professional home appraisal, the home can be remortgaged based on the appraised value to obtain a loan.

However, compared with the first mortgage loan, there are some more things that need to be paid attention to: 1. Some cities do not support second mortgage loans. Before taking a loan, you must find out whether the city you live in has Support this policy. 2. Loan amount = house value * mortgage rate - principal balance of the original loan (the value of the house is compared with the original purchase price of the house and the appraised price at the time of the second mortgage, whichever is lower. The second mortgage of the house is based on the lower of the two. The maximum mortgage rate for a secondary loan shall not exceed 70%; the maximum mortgage rate for a second loan mortgaged with a commercial property shall not exceed 50%. 3. The procedures and documents required for the second mortgage and the first mortgage are basically the same. However, the legal effects after registration are different in the order in which mortgage rights are realized. 4. Although the "Urban Real Estate Mortgage Management Measures" stipulates that the consent of the first mortgagee is not required for a second mortgage, but the second mortgagee must be informed. However, in the actual mortgage process, if the first mortgage contract requires the consent of the first mortgagee, it must be abided by as stipulated in the contract. At the same time, the second mortgagee must be informed of the mortgage loan that has been made. Otherwise, the mortgagee has the right to require the mortgagor to stop its lending activities in accordance with relevant regulations. 5. Generally speaking, the value of the second mortgage loan shall not exceed the balance of the value of the house after the first mortgage guarantee. This is to avoid administrative litigation from the registration department if the mortgagor is unable to pay off its debts.

What are the precautions for a second mortgage loan?

Nowadays, most families use mortgage loans when buying houses, so that they and their families can move into a new house as soon as possible and at the same time ease their financial pressure. So what are the precautions for a second mortgage loan?

1. In addition to banks, private lending institutions can also provide this kind of loan business. But be careful with such private lending institutions, because there will inevitably be unscrupulous institutions. If you are targeted by such black institutions, not only will your personal information be disclosed, but you may also lose both your property and your property. Therefore, if you use a private lending institution for a loan, remember to use a formal institution.

2. When re-mortgaging a loan, be sure to pay attention to its repayment issues and check the repayment status in a timely manner. Because if the entire loan is repaid, it will be shown on the credit report, and you can apply for a mortgage loan again. What everyone needs to pay attention to is the time difference. If the company is formal, it can help with inquiries.

3. When re-mortgaging, you should pay attention to the loan amount, which is particularly critical. When applying, you should pay attention to the loan amount. If the loan amount is similar to the amount to be repaid, then this kind of loan will be meaningless.

The above is an introduction to the precautions for second mortgage loans. I hope it can give you some reference. What should you pay attention to when applying for a second mortgage loan?

What you should pay attention to when applying for a second mortgage loan: 1. The maximum period for applying for a second mortgage is 5 years; 2. Pay attention to the loan amount when applying for a second mortgage loan. and interest; 3. The second mortgagee must fulfill its notification obligation; 4. Pay attention to the assessment of the loan repayment ability. Article 400 of the Civil Code stipulates that to establish a mortgage right, the parties shall enter into a mortgage contract in writing. A mortgage contract generally includes the following clauses: (1) The type and amount of the secured creditor's rights; (2) The time limit for the debtor to perform its debt; (3) The name, quantity, etc. of the mortgaged property; (4) The scope of the guarantee.