Can a bank loan mortgage a house?
1. Mortgage loan is risky because buying a house is not a consumer loan. If it is found that the lender uses the loan for consumption, the bank has the right to stop lending or recover the loan in advance. If the circumstances are serious, the bank can be characterized as fraudulent loans, which may affect personal credit information and affect future loan applications.
2. The mortgage loan repayment period is short. Housing mortgage loan is a consumer loan, and the repayment period of consumer loan is only 10 year. Compared with the 30-year repayment period of mortgage loans, the pressure is obvious. Therefore, if the economic situation is not enough to deal with it, it is recommended not to choose this way.
The interest rate of mortgage loan is much higher than that of mortgage loan. The interest rate of mortgage loan is usually 30% higher than the benchmark interest rate, which is much higher than the mortgage interest rate. Moreover, in the process of mortgage loan, there will be many additional expenses, such as housing evaluation fee and mortgage registration fee. If you find an intermediary to handle mortgage loans, you have to pay a lot of intermediary fees, so the cost of buying a house with mortgage loans is higher.
How to handle the mortgage formalities?
1. Choosing a lending institution: The first step in handling a real estate mortgage loan is to choose a good lending institution. Although the bank loan interest rate is low, safe and reliable, its approval speed and loan requirements have always been a problem. Although private lending has many interest rates, it has low audit requirements and fast processing speed. Therefore, choosing the right lending institution is a crucial step in the whole loan process.
2. Write application materials: After selecting an institution, you can submit the application with the materials required by the applying institution.
3. Preliminary review: We basically have no problems at this stage. The loan will conduct a preliminary review of the basic materials we submitted before, and the review meets their requirements.
4. Appraisal: generally speaking, lending institutions, especially banks, are required to go to designated or recognized appraisal institutions for appraisal, and appraisal fees will be charged during appraisal. Different households are not necessarily the same, and the charging standards in different regions are also different.
5. Examination and approval of loan signing contract: The lending institution will re-examine the loan according to the previously submitted materials and evaluation report, and will communicate with you about the loan amount, interest rate, term and repayment method. After communication, you can sign the contract.
6. Apply for mortgage registration and loan.