Mortgage is actually when we buy a house, we use our own property to mortgage it, and then pay in installments, and we have to pay a lot of interest to the bank every month. Many people may think that mortgage and loan are the same, but in fact they are different, because mortgage and loan are different in concept.
If we choose a loan, then the borrower must provide his own property right certificate and land use certificate, and then we can apply for a collapsed property right certificate with these materials, and then we can mortgage the property right certificate to the bank as a guarantee to get the loan. To put it bluntly, we mortgaged the house to the bank. But if you choose a mortgage, it will definitely be more convenient. Usually, if we haven't got the property right certificate, we can go to the bank to apply for a mortgage loan. The realization is that many people buy faster houses, but they can't do property certificates when they buy them. At this time, we basically choose mortgage loans.
Secondly, the interest on loans and mortgages is different. Usually, the interest on a loan is higher than that on a mortgage. If we choose to buy a house by loan, the house will not be owned by us until the loan is fully paid off. If we violate the rules or breach the contract when repaying the loan, the bank can also deal with the house. However, mortgage is different. Mortgage loan is only installment payment, which is actually the most fundamental difference between the two.
Of course, both loans and mortgages need to pay interest to the bank. After all, banks are not charitable organizations, but also have to make money. In real life, if you want to buy a house, I personally think it is better to buy a house in full. If conditions do not allow, you can choose a mortgage, and then choose to repay the loan in advance after the funds are sufficient. Generally speaking, I think the more down payment for a loan to buy a house, the better.
Can I get a loan for a mortgage house?
During the mortgage period, loans can be made in two mortgage. The applicant must first determine the mortgage service company and loan scheme, sign the loan agreement after the loan qualification examination, go through the mortgage formalities, and wait for the loan with the mortgage certificate.
The foundation of law
Article 25 of the general principles of loans
If the borrower needs a loan, he should apply directly to the lead bank or the agent bank of other banks.
Article 29
All loans shall be signed by the lender and the borrower. The loan contract shall specify the loan type, loan purpose, amount, interest rate, loan term, repayment method, rights and obligations of the borrower and the borrower, and liability for breach of contract. Contract and other matters agreed by both parties. To guarantee a loan, the guarantor shall sign a guarantee contract with the lender, or the guarantor shall specify the guarantee terms agreed with the lender in the loan contract, affix the official seal of the guarantor and sign it by the legal representative of the lender. Guarantor or its authorized agent. In case of mortgage loan, the mortgagor, pledger and lender shall sign a mortgage contract or pledge contract. Where registration is required, it shall be registered according to law.
Article 30
The lender shall issue the loan on time in accordance with the loan contract. If the Lender fails to issue the loan on time as agreed in this Contract, it shall pay liquidated damages. If the borrower fails to use the money as agreed in the contract, it shall pay liquidated damages.
Is mortgage a loan?
With the soaring housing prices, most people now choose mortgage loans to buy houses, because it is difficult to pay such a large sum of money in the era of high housing prices, so everyone will choose mortgage loans, which can alleviate their economic pressure. So, is a mortgage a loan?
1, a mortgage is a loan.
2. Mortgage is a loan, that is to say, a part of the down payment is paid first, and the rest is lent to the bank and returned to the bank in installments.
3. But if you want to apply for a loan in a bank, the premise is that the conditions of the mortgage applicant must meet the requirements of the bank.
The above is the related content of mortgage, and I hope it will help netizens.
The difference between mortgage and loan
The difference between mortgage and loan is as follows:
1, the difference in ways, mortgage loan is the way to buy a house and borrow from a bank; Mortgage loan refers to the way that the buyer of grandson's socks gets a good loan from the bank with the purchased building as collateral;
2. Loans have different uses. Mortgage loans can be used for car purchase, tourism, decoration, medical care, study abroad and other consumer areas, while mortgage loans are for buyers to borrow money from banks to buy a house.
legal ground
Article 402 of the Civil Code of People's Republic of China (PRC)
Where the property specified in Items 1 to 3 of the first paragraph of Article 395 of this Law or the building under construction specified in Item 5 is mortgaged, the mortgage registration shall be handled. The mortgage is established at the time of registration.
Article 394
In order to ensure the performance of the debt, if the debtor or a third party mortgages the property to the creditor without transferring the possession of the property, if the debtor fails to perform the due debt or realize the mortgage according to the agreement of the parties, the creditor has the right to be compensated in priority for the property.
The debtor or the third party specified in the preceding paragraph is the mortgagor, the creditor is the mortgagee, and the property that provides guarantee is the mortgaged property.
Article 667
A high-value contract is a contract in which the borrower borrows money from the lender, repays the loan at maturity and pays interest.