What is the process of buying a house with a commercial loan?
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 an important step in the commercial loan process.
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, not exceeding 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.
What are the commercial loan terms of the bank?
1, must be a natural person with full capacity for civil conduct;
2. Have permanent residence in cities and towns or valid residence status;
3. Have a stable occupation and income, good credit and the ability to repay the principal and interest of the loan;
4. Some banks will require applicants to apply for the bank's credit card, or borrow from banks with good credit records;
5. Some banks also require the provision of work mortgage or pledge recognized by the bank, or units or individuals that meet the prescribed conditions and have compensatory capacity as guarantors to repay the principal and interest of loans and bear joint and several liabilities.