In the case of shortage of funds, real estate mortgage loan has become the choice of many people. So, how much can a real estate mortgage loan borrow? It depends on many factors. Let's have a look.
First, the calculation method of mortgage loan amount
1. Calculated according to the attribute value
The bank will calculate the loan amount according to the market value of the property, and usually the bank will calculate the loan amount according to 70%~80% of the property value. For example, if the market value of your property is 6,543,800 yuan, the bank will calculate the loan amount according to 70%~80%, that is, 700,000 yuan ~800,000 yuan.
2. Calculated according to repayment ability
The bank will also calculate the loan amount according to your repayment ability. The bank will judge your repayment ability according to your income, job stability, credit history and other factors, so as to determine the loan amount.
3. Comprehensive consideration and calculation
When calculating the loan amount, the bank will comprehensively consider the above two calculation methods to determine the final loan amount.
Second, matters needing attention
1. Property ownership must be clear.
When making a mortgage loan, you must ensure that the ownership of the property is clear, otherwise the bank will not give you a loan.
2. Real estate must have stable value.
The bank will calculate the loan amount according to the market value of the property. If the value of the property is unstable, the bank may refuse your loan application.
3. The repayment ability must be sufficient.
The bank will calculate the loan amount according to your repayment ability. If your repayment ability is insufficient, the bank may refuse your loan application.
Third, the operation steps
1. Select a bank.
First of all, you need to choose a reputable bank and understand the bank's real estate mortgage policy.
2. Submit application materials
After choosing a bank, you need to prepare the corresponding application materials, including ID card, real estate license, income certificate, credit record, etc. Then, you need to submit these application materials to the bank.
3. Wait for the approval result
The bank will approve your application materials, which usually takes 3~5 working days. If the application is approved, the bank will tell you the specific loan amount and repayment method.
sign a contract
If you agree to the loan amount and repayment method, you need to sign the relevant loan contract with the bank.
fulfilling formalities
After signing the contract, you need to go through relevant procedures, including real estate mortgage, loan issuance and repayment.