Can I apply for a renovation loan for an old house?
You can apply for an old house renovation loan. If you want to use a decoration loan, you can have enough collateral, which has nothing to do with the old and new houses. But the new house can be mortgaged by the house itself, and the old house is relatively limited.
Can a resettlement house apply for a decoration loan?
Resettlement houses can apply for renovation loans. According to the regulations, the loan business can only be handled after the resettlement house has been purchased for 5 years and all the property certificates have been obtained. Therefore, the first condition for the resettlement housing to apply for a loan is that the resettlement housing has obtained a real estate license. In addition, due to the different requirements of each region, lending institutions have other requirements that need to be implemented according to their requirements. Generally speaking, the borrower is also required to have a stable job and income and sufficient repayment ability.
What are the precautions for decoration loans?
1. Personal housing renovation loan is a loan issued by the bank to the borrower for the renovation of its own housing. The house decoration mentioned here refers to the engineering activities of transforming and processing houses by using decorative materials. In other words, the property must be your own.
2. The special requirements in the house decoration loan are: the renovation contract, decoration budget and related materials signed with the decoration enterprise approved by the relevant departments; Some banks also require owners to have no less than 30% of the total decoration budget, and then use the loan after investing in the project construction.
According to the regulations of the bank, personal consumption loans are generally not allowed to withdraw cash. The bank will transfer the money to the account of the decoration company.
4, the loan period is generally not more than 5 years.