1. Age must meet regulations: the borrower must be over 18 years old, have full capacity for civil conduct, have the ability to bear legal liability, and must not be over 65 years old.

2. Have legal identity: The lender can provide proof of his or her identity, including resident ID card, household register, etc.

3. Ability to repay the loan: The borrower must have a stable economic income and provide proof of income when applying for a loan. The monthly income must be 2.5 times the monthly payment.

4. Have a basis for purchasing a house: The lender must have a house subscription letter, a house purchase contract, a deposit receipt and other materials.

5. Good credit report: The lender needs to provide a credit report with good credit report and no overdue records.

Process of applying for a home loan

1. Submit a mortgage loan application to the bank:

Generally, newly developed properties have cooperation with certain banks. You can go directly to the bank designated by the developer to apply. When applying, you can ask the bank in advance what materials to prepare. You can just use them when applying. When applying, you must fill in the mortgage loan application form and submit it to the bank.

2. Bank review:

After a home buyer submits a mortgage loan application, the bank will arrange for staff to review the home buyer’s credit status and repayment ability. If there is a problem with the qualifications or credit report, the bank will refuse the loan. If the loan is successfully approved, the bank will notify the home buyer to go to the bank for face-to-face confirmation.

3. Sign the house purchase contract:

After passing the review, the bank will issue a loan approval notice or mortgage loan commitment letter to the house buyer. At this point, the house buyer can rest assured Pay the down payment and sign a house purchase contract with the developer.

4. Sign a house mortgage loan contract:

After getting the house purchase contract, the home buyer needs to hold the house purchase contract, proof of down payment, etc. to sign a house mortgage with the developer and the bank. A mortgage loan contract will explain and limit the property rights of the mortgaged house, the loan amount, the loan period, the agreed interest rate, the repayment method, and the obligations of the three parties.

5. Go to the local housing bureau to apply for real estate mortgage registration:

With the above required materials, go to the local housing bureau to apply for real estate mortgage registration. Only after completing the real estate mortgage registration procedures can Only when all contracts signed previously are legal and valid can the next step of mortgage registration be carried out.

6. The bank issues the loan, and the borrower pays the principal and interest monthly: