Operating process of buying a house with a loan:
1. Select real estate; When choosing a property, the lender needs to confirm with the developer whether the property has bank support and whether it can apply for a mortgage loan.
2. loan application; After confirming that the property selected by the lender has bank mortgage support, the lender should learn about the bank's provisions on mortgage loan support for buyers from the bank or the law firm designated by the bank, prepare relevant legal documents, fill in the mortgage loan application form, and prepare relevant application materials: (husband and wife) ID card, household registration book, proof of marital status, work certificate, income certificate and other materials stipulated by the bank.
3. Bank audit; The bank received the legal documents on mortgage application submitted by the property buyers, and arranged for the Commissioner to examine whether the lender meets the mortgage loan conditions. If the lender passes the examination, the bank will issue a loan consent notice or a mortgage commitment letter to the lender.
4. Sign relevant contracts; After signing the purchase contract and obtaining the payment voucher, the purchaser signs the mortgage loan contract with the developer and the bank with the relevant legal documents stipulated by the bank, and defines the rights and obligations such as loan amount, term, interest rate and repayment method.
5. Handle mortgage registration and insurance; Lenders, developers and banks shall go through mortgage registration and filing procedures with the real estate management department on the basis of the housing mortgage loan contract and the house purchase contract. If the house is delivered in advance, the mortgage registration shall be changed after completion. Under normal circumstances, due to the relatively long term of mortgage loans, banks require buyers to apply for personal and property insurance to prevent loan risks. Property buyers should list the bank as the first beneficiary when purchasing insurance, and the insurance shall not be interrupted during the loan performance, and the insurance amount shall not be less than the total value of the collateral. Before the loan principal and interest are paid off, the insurance policy shall be managed by the bank.
6. Handling and determination of repayment account; After signing the Housing Mortgage Loan Contract, the lender 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 of the bank and mortgage loan contract from this account. The bank is confirming that the buyers meet the mortgage loan conditions and fulfill the obligations stipulated in the building mortgage loan contract. After handling the relevant formalities, the loan will be transferred to the bank supervision account opened by the developer in the bank as the purchase money of the purchaser.