Renovation loan processing flow
1. When applying for a loan from a bank, the loan applicant shall fill in the Application for Personal Housing Decoration Loan and submit relevant certificates and materials to the bank.
2. After reviewing the authenticity, legality and credit degree of the relevant certificates and materials submitted by the borrower, the bank promises to lend. On this basis, the loan applicant signs a decoration project contract or decoration product order contract with the decoration company or decoration product seller, and submits the original contract to the bank.
3. The borrower and the borrower sign the Loan Contract for Personal Housing Decoration and the corresponding guarantee contract. The borrower who takes the house as mortgage shall go through the formalities of notarization of individual housing mortgage contract, mortgage housing insurance and real estate mortgage registration.
4. Go through the loan guarantee formalities or go through the loan formalities after keeping the certificate of other rights of real estate.
5. Entrusted by the borrower, the bank will transfer the loan funds to the decoration company or the unit selling the decoration products to open an account in the bank in the name of paying the decoration money according to the time stipulated in the loan contract.
What is the amount and duration of the renovation loan?
Loan amount for renovation of general banks: the starting point is 5,000 yuan (including 5,000 yuan) and the maximum is 6,543.8 yuan+5,000 yuan (including 6,543.8 yuan+5,000 yuan). Among them, if secured by mortgage, the loan amount shall not exceed 70% of the value of collateral, and if secured by pledge, the loan amount shall not exceed 80% of the value of pledge.
The shortest loan period of decoration loan is half a year, and the longest is not more than five years (including five years).