If the only debt on the house is the mortgage, the creditor of the house is indeed the bank. After all, buying a house with a loan is actually using the house as collateral to borrow money from the bank. But that’s not necessarily the case if you have other debts. Regardless of the form in which the house is executed, the bank generally has the priority to be reimbursed.

What is the process of applying for a housing loan?

1. Sign a house sales contract. Of course, this is only a contract of intention. You do not need to go to the owner first or pay a down payment. The deposit is up to you. I negotiated the terms with my predecessor.

2. Submit a loan application to the bank. After the bank accepts your application, if the information is incomplete or insufficient, it will ask you to provide additional information. Generally, the approval time will be about 2 weeks.

3. When the bank approves your loan application (it approves your loan application, but does not agree to lend you a loan), you should pay attention and ask the bank staff how your loan will be processed. After the mortgage is completed, we can arrange a time to lend you the loan. Once confirmed, you can go through the transfer process and pay the down payment.

4. Sign a loan contract with the bank, pay various fees, and apply for mortgage and insurance. When signing a loan contract, you should carefully read the terms inside it, because most bank handlers make these loan contracts in batches, and mistakes and omissions are inevitable.

5. Go through mortgage procedures and insurance procedures.

6. For loans, some banks require customers to go to the bank again to apply for loans. After disbursing the loan, remember to ask the bank for a copy of your loan contract and IOU. For second-hand houses, there is also an insurance policy, appraisal letter, etc. Also make two copies of the real estate certificate. Remember to ask for the official seal of the bank, because some agencies and departments require it when doing business.

What information is needed to apply for a mortgage

1. Valid identity certificates (ID cards, household registers, etc.) for myself and my spouse. Self-employed individuals must provide a business license (original for verification, copy left) pieces).

2. Proof of the borrower’s marital status (marriage certificate or single certificate).

3. Proof of income and property of the borrower and spouse.

4. House purchase contract and down payment receipt.

5. The property has a pledge of commitment.

6. Bank housing mortgage loan application approval form.