Contract issuance process:
1. After the loan is issued, the bank will hand over the loan contract, IOU, repayment schedule and other information to the customer at one time. After the loan is approved, it will be notified by phone or SMS. The loan contract is usually signed within one week.
2. The real estate license of mortgage loan shall be kept by myself after mortgage registration, and other warrants shall be kept by the loan bank.
3. There are still many procedures to be completed in the follow-up of the loan contract signed with the bank, so the contract did not reach the lender so quickly. After the bank has gone through all the formalities, it will send a text message to the lender to ask him to collect the original contract from the bank.
Generally, housing loan contracts are signed in triplicate or quadruplicate, one for you, one for the bank, one for the warrant and one for the guarantor, if any.