After paying off the loan, the borrower can immediately go through the relevant procedures for canceling the mortgage. However, it takes about 2 weeks to successfully complete the release procedure.
Mortgage loan, also known as "mortgage loan". Refers to a loan method adopted by banks in some countries. The borrower is required to provide a certain amount of collateral as a guarantee for the loan to ensure repayment when the loan expires.
First, the customer applies, then signs the contract, issues the loan, checks after the loan, repays the loan on time and settles the loan.
Article 3 of the Measures for the Administration of Urban Real Estate Mortgage stipulates that the term "real estate mortgage" as mentioned in these Measures refers to the act that the mortgagor provides the mortgagee with debt performance guarantee with his legal real estate without transferring possession. When the debtor fails to perform the debt, the creditor has the right to be paid in priority with the proceeds from the auction of mortgaged real estate according to law.
If the house is released, the user needs to go through the mortgage cancellation registration formalities with the local housing authority with his ID card, house property right certificate and repayment certificate issued by the bank, stamp the property right certificate and indicate the cancellation date.
The mortgage loan requirements that the applicant must meet are as follows:
1. The applicant is 18 years old and under 65 years old.
2. Have a proper occupation and a stable source of income, and be able to repay the loan principal and interest on time.
3. Being able to provide collateral recognized by the lending institution and willing to bear relevant legal responsibilities.
4. If the house is used as collateral, the property right of the house should be clear, meet the listing and trading conditions stipulated by the state, and can enter the real estate market without any other mortgage.
5. Personal credit record is good.
6. Other conditions required by the lending institution.
What are the process steps of mortgage loan?
1. Apply for a loan
The purpose, amount and duration of the loan applied by the borrower to the financial institution. If the loan application meets the loan scope of this financial institution, then you need to prepare the corresponding information.
2. Submit loan information
Submit the application materials, including but not limited to the following contents (depending on the specific provisions of each bank product): the borrower's ID card, running water in the past six months, work certificate, credit report and real estate license, etc.
If an enterprise needs to mortgage real estate, the materials it needs to provide are: three business licenses, account opening permit, articles of association, enterprise capital verification report, purchase and sale contract, running water of the past six months, financial statements of last year and the past six months, and asset certificates (different materials will be provided according to different banks).
This link is a very important link in the process of real estate mortgage loan, because many customers are in urgent need of money when lending. If these materials can be prepared in advance, it will save a lot of trouble.
3. Housing evaluation
After the materials are submitted completely, the bank will conduct on-the-spot investigation and evaluation according to the mortgaged house. Each link is an important link in the process of real estate mortgage loan, which directly determines the amount of your house mortgage loan. Generally speaking, there will be some discrepancy between this assessment and the market price, because the assessment agency will consider multiple factors.
Step 4 apply for a loan
The housing appraisal company will submit the appraisal report or appraisal opinion to the bank for approval.
5. Sign a loan contract
The borrower and the lending institution sign the loan contract and all relevant documents, and the signature and handprint shall be notarized by a notary.
6. Mortgage registration procedures
The bank shall go through the mortgage registration formalities at the real estate office with the house ownership certificate and notarized loan contract.
7. Bank loans
Due to the different regulations of banks, they will lend money to the accounts of cooperative merchants in the form of cash, punch card or remittance.
8. Repayment on schedule
This point can not be ignored. It is an important link to establish a good credit. If it is repaid in full and on time, it will play a positive role in promoting the borrower to borrow again and find a job in the future.
9. After the loan is settled, go through the mortgage registration cancellation procedures.
After the loan is settled, go to the real estate bureau for mortgage cancellation.