Is it safe to use a guarantee company for a mortgage loan? What are the advantages and disadvantages? How to identify whether it is a formal guarantee company?

Whether a guarantee company is safe depends on whether the guarantee company you are looking for is regular. Generally speaking, formal guarantee companies are very safe.

Methods to identify formal loan guarantee companies:

1. Strict legal texts and standardized operations. Established guarantee companies tend to strictly abide by national laws, regulations, etc., and will not operate illegally for short-term gains, nor will they touch the "high-voltage lines" of the industry. In operation, any irregularities or unexpected factors may pose a potential threat to the interests of investors. Therefore, it is necessary to formulate strict legal texts. In the contract, the rights of investors, borrowers and guarantors and their respective responsibilities are Obligations are clearly defined. Only in this way can the interests of all parties be fully protected. This is also an important aspect in judging a guarantee company.

2. Fully understand the assets and social reputation of the guarantee company.

3. You can learn about the guarantee company’s operating years, number of customers, and number of days without overdue guarantees.

Regular guarantee companies do not pay any fees before lending, and will not charge any additional so-called handling fees, home visit fees, and material fees from customers.

Usually, guarantee companies have advantages:

High loan limit - according to most bank regulations, the maximum mortgage loan limit is only 70% of the appraised value of the mortgaged house, but if the borrower If you use a guarantee company to carry out the operation, you are very likely to achieve a satisfactory result of the loan. Based on the same principle, some users who applied for mortgage housing loans even realized their wish to buy a house with zero down payment.

The application threshold is low - when the application materials are incomplete and the mortgaged house does not meet the regulations, it is difficult for the borrower to apply for a loan from the bank, and the result is often failure. However, if a guarantee company comes forward to vouch for you, things are expected to turn around. It is not difficult to see from this that another advantage of guarantee companies is to serve users who cannot get loans directly from banks.

The disadvantage is that the cost of loans increases - there are advantages and disadvantages to getting a loan from a guarantee company. Compared with going to a bank for a loan directly, the guarantee company has an extra loan guarantee service fee, so this also increases the amount of borrowing. The cost of a loan to a person. However, if the borrower can compare the charging standards of the guarantee companies, the loan costs can also be controlled to a certain extent.

The above is the relevant knowledge compiled by the editor for everyone to find a guarantee company for loans.

(The above answer was published on 2015-12-07, please refer to the actual relevant current house purchase policies)

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