Requirements of Lenders for Buying a House by Loan
Individuals applying for housing loans must meet the following conditions:
1, with urban permanent residence or valid residence status.
2, a stable economic income, good credit, the ability to repay the loan principal and interest.
3. There are legal and effective contracts and agreements for the purchase, construction and overhaul of houses and other supporting documents required by the loan bank.
4. Self-raised funds of more than 30% of the total house price (20% for self-occupied houses with a building area of less than 90 square meters), and guaranteed to be used to pay the down payment of the purchased houses.
5. Mortgaging or pledging the assets recognized by the loan bank, or (and) using legal persons, other economic organizations or natural persons with sufficient compensatory capacity as guarantors.
6. Other conditions stipulated by the lending bank.
Loan purchase process
1. The loan applicant should fill in the application form with the following supporting documents: valid identity documents; Proof of marital status; Pledge and mortgage certificate, if the guarantor provides a guarantee, it shall provide a guarantee certificate.
2. Loan review by the borrowing bank: the bank investigates the borrower's guarantees and loans. , and according to the procedures for examination and approval, and notify the borrower of the examination and approval results.
3. Signature of the applicant and the bank: After the borrower applies for approval, he shall go through the following procedures: signing a loan contract and corresponding guarantee contract with the bank, and going through notarization, insurance, mortgage (pledge) registration and other procedures.
4. Bank loan: After the borrower completes the relevant formalities, China Merchants Bank will release the loan to the borrower's personal account and transfer the loan to the relevant payee's account according to the borrower's entrustment.
5. After investigation, examination, approval and signing of the loan contract, the loan agent will register and notarize the funds, deposit the funds into the seller's account (the customer adopts the principle of voluntary insurance), and notify the customer to undertake the contract and sell the house. The merchant handles the purchase procedure.
6. The agent of the loan bank pays the deed tax, obtains the contract, and completes the registration procedures of the real estate title certificate and the house mortgage. Fees are charged in strict accordance with the charging standards of relevant agencies, and no agency fees are charged. The borrower must provide all the necessary formalities mentioned above. After the loan is returned, the loan bank cancels the collateral and returns it to the customer.