After paying the down payment, the auction house will handle the mortgage within the time agreed with the developer, and pay the mortgage the next month after the loan is issued.

Procedures for mortgage loan:

1.

First of all, go to the bank to understand the relevant situation. And apply for personal housing loans with all relevant materials.

2.

Then accept the bank's audit and determine the loan amount.

3.

Next, you can apply for a loan contract and the bank will apply for insurance.

4.

Handle the registration and notarization of property right mortgage.

5.

The last thing left is the cancellation of registration after the bank issues loans, the borrower repays on a monthly basis and pays off the principal and interest.