Nowadays, many families will encounter financial difficulties in their lives. In this case, choosing a loan is a good way, but when applying for a loan, you need a conditional mortgage loan, that is A common application method, so what is the process of purchasing a mortgage loan? What are the restrictions on home purchase mortgages? Let’s learn about mortgage loans for home purchases.

What is the mortgage loan process for home purchase?

1. The buyer and seller of a second-hand house should first reach an agreement and sign a second-hand house sales contract, paying attention to agreeing on the amount of down payment, loan and balance payment; when applying for a loan, in addition to the home buyer, his or her spouse should also face the bank in person To apply for a loan, the house seller will be present for confirmation; the bank will investigate and approve the application materials of the borrower (house buyer);

2. The house buyer signs a loan contract and a guarantee contract with the bank; the house seller will transfer the property rights of the house to the house buyer and obtain the down payment from the house buyer; the house buyer registers the property mortgage with the bank, and other natural persons and legal persons can also provide periodic guarantees;

3. If the guarantee is successful, the bank will provide the house seller with Loans are issued from personal accounts; after the funds are released, the buyer and seller handle matters such as the delivery of the house and property on their own, the transfer is completed, and the buyer pays the balance to the seller.

4. The home buyer takes possession of the house and makes monthly repayments. Borrowers need to note: If you are applying for a phased guarantee, you need to re-register the property mortgage with the bank.

What are the restrictions on mortgage loans for home purchases?

1. If you use a house as a mortgage loan, it does not count as the number of loans. The number of loans is only counted when commercial loans and provident fund loans are used to buy houses. If you use a house as a mortgage and go through the mortgage consumer loan process, it will not be counted as a home purchase loan and will not affect the purchase of a house.

2. Mortgage loan refers to a loan obtained by the borrower from the bank with a certain amount of collateral as guarantee. It is a form of lending by banks. The collateral usually includes securities, treasury bonds, various stocks, real estate, and bills of lading, warehouse receipts or other documents that prove ownership of items. When the loan matures, the borrower must repay it in full, otherwise the bank has the right to dispose of the collateral as a form of compensation.

If you want to apply for a mortgage loan for home purchase, you must first pay attention to the process, prepare your relevant information and certificates, and handle it in accordance with the requirements of the relevant departments. The above is about the process of mortgage loan for home purchase. What are the restrictions on home purchase mortgage loans? You can learn about the specific handling matters before applying for a mortgage loan to avoid affecting your life.