If the loan is not settled, the second suite policy will be implemented, and the down payment ratio of the second suite will be increased to 40%. However, if the first suite uses the provident fund loan and has not been settled, the second suite cannot use the provident fund loan, and the provident fund loan can only be used after the loan is settled.

At present, the bank's identification of the second suite is "recognizing the house and recognizing the loan". That is to say, although the property bought by the loan is sold, there is no house under the family name, but because of the previous loan record, applying for a mortgage will also be counted as the second suite.

Matters needing attention in housing loan

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.

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.