Purchase loan application process
1. Apply for mortgage loan.
After confirming that the property you choose has bank mortgage support, buyers should know about the bank's regulations on mortgage loan support for buyers, prepare relevant legal documents and fill in the mortgage loan application form.
2. Sign a house purchase contract
After receiving the legal documents related to the mortgage application submitted by the buyers, the bank will issue a loan consent notice or a mortgage loan commitment letter to the buyers after confirming that the buyers meet the mortgage loan conditions. Property buyers can sign the "Pre-sale Sales Contract of Commercial Housing" with developers or their agents.
3. Sign a house mortgage contract.
After signing the house purchase contract and obtaining the payment voucher, the buyer signs the mortgage loan contract with the developer and the bank with the relevant legal documents stipulated by the bank, stipulating the amount, term, interest rate, repayment method and other rights and obligations of the mortgage loan.
4. Apply for mortgage registration and insurance.
Property buyers, developers and banks hold the Building Mortgage Loan Contract and the Purchase Contract to the real estate management department for mortgage registration and filing procedures. If the auction house is completed, the mortgage registration shall be changed.
5. Open a special repayment account.
After the house mortgage loan contract is signed, the buyer opens a special repayment account in the financial institution designated by the bank according to the contract, and signs a power of attorney to authorize the institution to pay the loan principal and interest and arrears related to the mortgage loan contract from this account. The bank confirms that the buyers meet the mortgage loan conditions and fulfill the obligations stipulated in the Building Mortgage Loan Contract.
After going through the relevant formalities, the loan will be transferred to the bank supervision account opened by the developer in the bank at one time as the purchase price of the buyers.
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Matters needing attention in applying for housing loan
1. Don't use the provident fund before applying for a loan.
If the borrower takes the balance of the provident fund to pay the house payment before the loan, the balance of the provident fund in your provident fund account will be zero, and your provident fund loan amount will be zero, which means you will not apply for a provident fund loan.
2. Don't repay the loan in advance in the first year.
According to the relevant provisions of the provident fund loan, part of the prepayment should be made one year after the repayment, and the amount you return should exceed the repayment amount of six months.
Don't forget to find the bank around you if you have difficulty in repaying the loan.
Don't insist on it yourself when your solvency drops during the loan period and it is difficult to repay. ICBC customers can apply to ICBC for extending the loan term. According to our investigation, if the situation is true and there is no default in repaying the loan principal and interest, ICBC will accept your application for extension.
4. Don't forget to inform when renting a house after the loan.
When renting a mortgaged house during the loan period, the lessee must be informed of the mortgage facts in writing.
Don't forget to cancel the mortgage after the loan is paid off.
When you have paid off all the loan principal and interest, you can go to the district/county real estate trading center where the property is located to cancel the mortgage with the bank's loan settlement certificate and other real estate rights certificates of the collateral.
6. Don't lose the loan contract and IOUs.
To apply for a mortgage loan, the loan contract signed between the bank and you and the iou are all important legal documents. As the loan term can be as long as 30 years, as a borrower, you should take good care of your contracts and IOUs.
Baidu encyclopedia-housing loan
Baidu encyclopedia-mortgage loan