The condition of the house in two mortgages
1. The second mortgaged house must be an existing house: the auction house has poor liquidity, and it is prone to problems such as unfinished tail and poor quality, so it is impossible for the auction house to handle the second mortgage. Most banks stipulate that only existing houses can handle two mortgage.
2. The borrower must have good credit: any loan requires the borrower to have good credit, and people with bad credit can't borrow money. Therefore, if you want to apply for a house, you should repay the loan on time and maintain a good personal credit.
3. The house has been insured: home insurance must buy it when applying for a mortgage, so keep the purchase contract and some receipts when applying for a mortgage, and don't lose them.
4. Clear property rights: To apply for a second mortgage, the property rights of the house must be clear and the borrower must own the house. A house with property disputes cannot apply for a second mortgage.
What are the procedures for housing mortgage loan?
1. Submit a loan application: The borrower must first confirm whether he meets the mortgage loan conditions of the bank, and then submit a loan application. Under normal circumstances, personal housing mortgage loans need to provide ID cards, household registration books, proof of income, corresponding contracts for personal consumption, proof of marital status, and house ownership certificates.
2. Bank evaluation loan: After receiving the borrower's loan application, the bank will evaluate the borrower's repayment ability and property value. According to the submitted materials, the bank should conduct on-the-spot investigation and evaluation of the mortgaged property. Each link is an important link in the process of real estate mortgage loan, which directly determines the amount of your mortgage loan. In addition, the borrower's personal credit information and income will also affect the bank's approval of loans.
3. Sign a loan contract: After the bank evaluates, if the bank has no doubt about the borrower's collateral and repayment ability, it will notify the borrower to sign a loan contract. Under normal circumstances, the lending institution will review it again according to the materials and evaluation reports submitted before. If approved, it will communicate with you the loan amount, interest rate, term and repayment method, and then you can sign the contract.
4. Lending: After the loan contract is signed, the borrower only needs to wait for the bank to issue the loan, and the lender opens a special repayment account for the borrower's loan. In addition, it should be noted that some banks will require borrowers to purchase mortgage property insurance, and the first beneficiary of insurance is the bank, which can reduce the risk of lending.