It takes about 30 days to buy an auction house to apply for loan approval. The approval time of housing loan is from submission to successful approval (all materials are complete and all conditions are in line with the bank's loan process). Ordinary documents generally take about 30 days, and the bank will notify the buyers after they are approved. If the loan is fast, it will take 7 days; if it is slow, it will take about 1 month, depending on the bank's reserve for real estate mortgage.

The loan process of purchasing forward house

1. Choose the right hotel for you:

When buying a house, buyers should pay attention to whether they can apply for a mortgage loan. After all, not all houses support it. Once it is not handled well, it is too late to regret it. Therefore, buyers must choose a good property, which can ensure the smooth progress of mortgage loans.

2. Apply for mortgage loan:

After the buyer confirms that his house can apply for mortgage loan, he needs to know the relevant provisions of mortgage loan from the bank or the law firm designated by the bank, prepare relevant legal documents and fill in the mortgage loan application form.

3. The buyer signs the purchase contract:

After receiving the mortgage application and relevant legal documents submitted by the buyers, the bank will review whether your qualifications are in conformity, and if yes, it will send a loan approval notice or a mortgage loan commitment letter to the buyers. Property buyers can sign relevant contracts with sellers or agents.

4. After signing the house purchase contract and obtaining the payment voucher, the buyer shall sign the house mortgage loan contract with the seller and the bank with the relevant legal documents stipulated by the bank, and shall specify the amount, service life, interest rate, repayment method and other rights and obligations of the mortgage loan.

5. Handling mortgage registration and insurance:

Property buyers, sellers and banks hold mortgage loan contracts and purchase contracts to the real estate management department for mortgage registration and filing procedures. If it is an auction house, you need to apply for mortgage registration of property right change after completion.

Because mortgage loans take a relatively long time, banks will require buyers to apply for insurance in order to prevent loan risks. When purchasing insurance, buyers should make it clear that the bank is the first beneficiary and ensure that the insurance cannot be interrupted during the loan performance period. At the same time, the insured amount shall not be less than the total value of the collateral.

It should be pointed out that this policy was entrusted by the bank before the loan principal and interest were settled.

6. Open a special repayment account:

After the bank confirms that the purchaser meets the mortgage loan conditions, fulfills the obligations stipulated in the Building Mortgage Loan Contract and goes through the relevant formalities, the bank will transfer the loan to the bank supervision account opened by the seller at one time as the purchase price.