1. If the borrower changes, you need to apply to the bank. After the bank agrees, he will sign a new contract. Then the bank and the borrower go to the Housing Authority (or entrust the bank to see if the local housing authority can accept the entrustment) to go through the formalities for changing the main contract and bring all the basic documents. After the change, the debt has not changed much.
2. If it is necessary to change the borrower due to legal reasons such as the borrower's divorce or death, the borrower may be changed. The new borrower applies to the loan bank. To the provident fund management center to verify the qualifications of the new lender, and then to the loan bank to verify, if only to change the repayment person, you can do an agreement notarization.
The process is as follows:
1. The borrower shall fill in the Application Form for Housing Mortgage and submit the following supporting materials to the bank: the borrower's fixed income certificate issued by the borrower's unit; Credit certification documents such as business license and legal person certificate of the loan guarantor; Legal and valid identity certificate of the borrower; The relevant certificate of the ownership of the house or the certificate that I have the right to the house according to law; Appraisal report, appraisal report and insurance documents of mortgaged real estate; Contracts, agreements or other supporting documents for the purchase and construction of houses; Other documents or materials required by the lending bank.
2. The bank examines the borrower's loan application, purchase contract, agreement and related materials.
3. The borrower shall hand over the title certificate, insurance policy or securities of the collateral to the bank for safekeeping.
4. The borrower and the guarantor of both borrowers sign the Housing Mortgage Loan Contract and notarize it.
5. After the loan contract is signed and notarized, the bank's deposits and loans to the borrower are transferred to the selling unit or building unit specified in the purchase contract or agreement.
6. The loan applicant repays the loan on a monthly basis.
There are two repayment methods for housing loans with a loan term of more than one year: average capital repayment method and matching principal and interest repayment method.
Average capital divides the total loan into equal parts during the repayment period, and repays the same amount of principal and the interest generated by the remaining loans in that month every month.
Monthly repayment amount = (loan principal/repayment months)+(principal-accumulated amount of repaid principal) × monthly interest rate.
Features: Because the monthly repayment amount is fixed and the interest is getting less and less, the lender is under great pressure to repay at first, but with the passage of time, the monthly repayment amount is getting less and less.
During the repayment period of equal principal and interest, the same amount of loans (including principal and interest) will be repaid every month.
Monthly repayment amount = [loan principal × monthly interest rate ×( 1+ monthly interest rate )× repayment months ]≤[( 1+ monthly interest rate )× repayment months]
Features: Compared with the repayment method in average capital, the disadvantage is that there are more interests. The interest in the initial repayment period accounts for most of the monthly contributions. With the gradual return of the principal, the proportion of the principal in the contributions increases. However, the monthly repayment amount of this method is fixed, which can control the expenditure of family income in a planned way and facilitate each family to determine the repayment ability according to their own income.
legal ground
Interim Measures for the Administration of Personal Loans
Article 11 An individual loan application shall meet the following conditions:
(1) The borrower is a People's Republic of China (PRC) citizen with full capacity for civil conduct or an overseas natural person who meets the relevant provisions of the state;
(2) The purpose of the loan is clear and legal;
(3) The amount, duration and currency of the loan application are reasonable;
(4) The borrower has the willingness and ability to repay;
(5) The borrower's credit status is good and there is no significant bad credit record;
(6) Other conditions required by the lender.