The bank does not have clear regulations on the loan interest rate for second-hand houses and the loan interest rate for new houses. The bank does not say that the loan interest rate for second-hand houses must be higher or lower than the loan interest rate for new houses. The two may It may be the same, it may not be the same. In fact, the mortgage interest rate mainly depends on the borrower's comprehensive qualifications, local policies, market conditions, etc. Also, if you go to different banks to apply for a mortgage, the mortgage interest rates may also be different.
However, under normal circumstances, the loan interest rate for second-hand houses is higher than the loan interest rate for new houses. This is because new house loans usually enjoy more interest rate concessions, and the interest rates for second-hand house loans tend to rise. It will be bigger.
The mortgage interest rate agreed upon by the customer when signing the loan contract does not mean that the mortgage interest rate will always be that high during the subsequent loan period. Mortgage interest rates are not static, because mortgages usually have a repricing cycle. When the repricing date arrives, the mortgage interest rate will be recalculated.
What is the process of buying a house with a bank loan?
1. First, we can go to multiple banks to understand their conditions for housing loans, what materials need to be prepared, loan amount, interest rate, discounts, etc. information. You can choose a bank with more favorable housing loans to apply for a loan to buy a house. Then we prepare the house purchase contract, down payment voucher, ID card, income certificate and other relevant materials according to the bank's requirements, and go to the bank's branch to apply for a housing loan.
2. The bank will review the applicant's information. After the bank's review is passed, the applicant needs to sign a loan contract with the bank and apply for insurance, because the bank will require the lender to purchase a house as an example to prevent risks. Life and property insurance list the bank as the first beneficiary. Next, the applicant goes to the housing authority to complete the transfer procedures, register the house mortgage, and receive other relevant documents such as certificates of ownership.
3. Finally, the applicant will hand over his warrant to the corresponding bank, open a special repayment account in the bank, and sign a letter of authorization. After receiving other warrants, the bank will lend money in accordance with the contract. The applicant repays the principal and interest on time every month, and the insurance cannot be interrupted during the loan performance period. After the loan is paid off, don’t forget to go through the procedures for canceling the mortgage and canceling the mortgage insurance.