1, the expected annualized interest rate is relatively low. Because the borrower provides the real estate as collateral, the risk that the bank has to bear is of course much reduced, and the risk that the lending institution has to bear is relatively small, and it is more willing to give the borrower a lower expected annualized interest rate;
2. The loan term is long. Compared with unsecured loans and automobile mortgage, the term of real estate mortgage loans is relatively long. , mortgage loans with real estate, the credit period is generally 10-20 years, and the longest credit period can reach 30 years;
3. The loan amount is high. Unsecured loans are generally about 65,438+00 times the monthly income, but the maximum amount of mortgage loans for real estate can reach 70% of the real estate assessment value, which can solve the difficulty for borrowers to obtain large loans.
4. The approval rate is relatively high. Mortgaging the house to the bank will definitely reduce the loan risk, which is why other requirements will be relatively relaxed. As long as the borrower has a stable job and a good reputation, he can get a loan. Under normal circumstances, banks have no higher requirements for the borrower's income level and salary payment form. (Cash distribution form must be self-storage flow within half a year)
5. You can use someone else's house as collateral. If there is no real estate under the borrower's name, but the borrower has the repayment ability, he can also use the real estate under the name of his relatives or friends as collateral, provided that the mortgagor issues a statement agreeing to mortgage and meets the requirement that the mortgagor is under 65 years old before the application.
6. The repayment method is flexible. Unlike unsecured loans, borrowers have a wider choice of repayment methods. Generally, there are one-time principal and interest repayment methods (especially loans with a term of one year or less), average capital method and equal principal and interest method.
7. Mortgage and recycling. At present, many banks have adopted one-time mortgage and revolving loan. Take China Bank's personal revolving mortgage loan as an example. It only needs the user to apply for a house mortgage once, and it can support the borrower to revolve the loan within the credit line and pay it back with the loan. Other banks have similar products.
8. You can repay in advance. When the loan is due, the loan can only be partially or fully settled in advance. However, according to the loan contract, an application must be made to the bank in advance, and the bank will repay the loan at the designated accounting counter after passing the examination. After the loan is settled, the borrower will take back the legal documents and relevant supporting documents extracted by the bank with his valid identity certificate and the loan settlement certificate issued by the bank, and apply to the original mortgage registration department for cancellation of mortgage registration with the loan settlement certificate.
Finally, remind the borrower that although the mortgage loan of real estate can obtain a loan with higher amount and lower interest, the procedures are relatively complicated, and the borrower needs to weigh it according to his actual situation.