Mortgage procedures for first-hand housing purchase

1. Sign a contract

The borrower must sign a "Letter of Intent to Purchase a Commercial Housing Contract" or a "Commercial Housing Contract" with the developer of the target property. Sales (pre-sale) contract" and pay a down payment of more than 30%.

2. Choose a loan bank

Under normal circumstances, borrowers cannot choose the bank for their home loans at will. Generally, developers will have designated banks.

3. Apply for a loan

Go to the bank to apply for a loan with relevant procedures. The following documents are generally required:

(1) The borrower’s legal identity document ( Resident ID card, household register, military ID card or other identity documents)

(2) Proof of economic income or solvency recognized by the lending bank (such as the borrower’s income certificate, tax payment certificate or professional certificate, etc.)< /p>

(3) Borrowers who have a spouse must provide proof of marital relationship

(4) If there is a *** with the borrower, a clear *** signed by both parties of the borrower must be provided Written commitment with repayment responsibility

(5) List of mortgages or pledged properties, proof of ownership, consent of the person with the right to dispose of the mortgage, proof of pledge and proof of valuation of the collateral

(6) "Letter of Intent to Purchase Commercial Housing Contract" or "Commercial Housing Sales (Pre-Sale) Contract" signed by the borrower and the developer

(7) Copy of the down payment or receipt issued by the developer (also available Original required by the bank)

(8) Loan application form

(9) Other documents or information required by the bank.

4. Bank review

The lending bank investigates and reviews all aspects of the home purchaser's situation and procedures. The lending bank will issue a loan letter of intent after passing the review, and the borrower will receive the form required for the loan.

5. Sign a loan contract and go through the mortgage procedures

The borrower signs a mortgage contract with the lending bank and deposits the self-raised funds into the lending bank. The borrower must go through the guarantee procedures, and the borrower who uses real estate as mortgage must go to the property rights department to apply for the "Other Property Rights Certificate" and the "Real Estate Mortgage Confirmation Letter." If a value is pledged, the value shall be handed over to the lending bank for collection and a loan contract shall be signed.

6. Bank lending

For loans for house purchase, the lending bank will transfer the loan together with the borrower's deposit to the account of the house selling unit for the loan for house construction. The borrower pays according to the loan contract.