The requirements for home mortgage loans are as follows:
1. Be eighteen years or older and have legal status;
2. Have a stable economic income and be able to repay The ability to borrow principal and interest, and no bad credit record;
3. Have a legal and valid house purchase contract;
4. Be able to provide an effective guarantee recognized by the lending bank;
5. Meet other conditions stipulated by the lending bank.
What is the process for applying for a bank loan?
1. Prepare materials, including loan application, customer’s ID card, household register, income certificate, marital status certificate and other materials;
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2. After applying and preparing relevant information, the customer can go to the bank or a law firm entrusted by the bank to process the loan application. After submitting the relevant information to the bank for verification and paying various fees, the customer needs to sign a contract with the bank. Loan contract, and serve as a legal document binding both parties;
3. Loan review. If it is a home purchase loan, the law firm entrusted by the bank will first conduct a preliminary review of the customer's application. If it is qualified, the bank will Carry out final loan approval; if the review fails, the bank will return the customer's relevant information and fees collected;
4. Go through other legal procedures;
5. Bank loan .
Legal basis: Article 674 of the "People's Republic of China and Civil Code"
The borrower shall pay interest according to the agreed period. There is no agreement or the agreement is not clear about the period for payment of interest, and it cannot be determined according to the provisions of Article 510 of this Law. If the loan period is less than one year, it shall be paid when the loan is returned; if the loan period is more than one year, It shall be paid at the end of each year. If the remaining period is less than one year, it shall be paid when the loan is returned.
Article 675
The borrower shall return the loan within the agreed time limit. If there is no agreement on the loan period or the agreement is unclear, and it cannot be determined according to the provisions of Article 510 of this Law, the borrower may return it at any time; the lender may urge the borrower to return it within a reasonable period of time.