What is the commercial loan process of the bank?
1. Submit a loan application: After you sign the house sales contract, you can apply for a commercial loan from the bank. Whether it is a first-hand mortgage or a second-hand mortgage, it is necessary to submit the complete materials approved by the bank to the bank for review, which is the most important step in the commercial loan process.
Mainly including ID card, household registration book, original and copy of marriage certificate; Foreign household registration needs to provide temporary residence permit or residence permit; Income certificate issued by the work unit; Sales contract, down payment invoice or receipt; Wage flow or other proof of assets in the past six months. In addition to the above five materials, different banks have different requirements for commercial loans, and other materials required by loan banks should be inquired in detail.
2. Investigation accepted by the bank: After receiving the application materials of the loan applicant, the bank will review the materials. The general review time for commercial loans is 15 working days, and the longest time shall not exceed 1 month.
During the bank investigation, the loan applicant will be asked to supplement some information according to the situation. Therefore, the loan applicant needs to keep in touch with the bank during this period.
3. Bank verification and approval: the loan bank will verify several aspects: the situation of the house, the qualification and credit status of the borrower. This is an important link in the process of commercial loans. If the credit of the loan applicant is not good, it will directly lead to the failure of the loan application, so it is very important to accumulate good personal credit in life.
4. Both parties shall go through relevant formalities: the bank informs the loan applicant that after the loan is approved, it is necessary to open an account in the bank, get a debit card and sign a loan contract. At the same time, handle mortgage, guarantee, pledge, insurance and other related guarantee procedures. When signing a loan contract and handling the guarantee formalities, you must know the detailed rules in the contract in detail and make clear your rights and obligations so as to avoid unnecessary misunderstanding.
5. Bank loan: After all loan procedures are completed, the bank transfers the loan funds to the account of the real estate developer, and the loan relationship is established, and the lender repays the loan according to the regulations.
How to calculate the interest rate of commercial loan for house purchase?
1. Equal principal and interest repayment method: Equal principal and interest repayment method is to repay the loan principal and interest with equal principal and interest every month. The calculation formula is as follows: monthly repayment amount = (loan principal × monthly interest rate ×( 1+ monthly interest rate) total repayment period) /( 1+ monthly interest rate) total repayment period-1.
2. Average capital repayment method: The average capital repayment method is a kind of diminishing repayment method. In this way, the loan principal is divided into several repayment periods, and the interest payable in each period is calculated from the unpaid principal. The principal of each installment is unchanged, and the interest is reduced each installment. Its calculation formula is as follows: monthly (quarterly) debt service amount
= loan principal/repayment times+(loan principal-accumulated repaid principal) × monthly (quarterly) interest rate.
The above is what Bian Xiao shared for you about whether you can choose your own bank for a house loan. More information can focus on the construction industry and share more dry goods.