Generally speaking, you can apply for a loan to purchase a quasi-existing house, but you need to meet bank loan conditions. Generally, home buyers are required to have a stable career and income, good credit, and the ability to repay the principal and interest of the loan on time, etc.

Buying a house with a loan requires an asset recognized by the lender as a mortgage or pledge; or when the borrower cannot provide a full mortgage (pledge), there must be an entity recognized by the lender that meets the prescribed conditions and has sufficient repayment capacity. Or an individual acts as a guarantor for the repayment of the principal and interest of the loan and assumes joint and several liability; the purchase of a house with a loan requires that the price of the house purchased basically meets the assessed value of the lender or its designated real estate appraisal agency; the purchase of a house with a loan requires other conditions stipulated by the lending bank.

Things to note when buying a house with a loan

1. Provide true information

If a home loan buyer provides false information to the bank, it may have serious consequences. : If it affects the bank's review, it will not be able to grant a loan. In more serious cases, the loan may not be applied for due to the individual providing false materials, causing the developer to require the home buyer to bear the liability for late delivery of mortgage information and the commercial housing pre-sale contract, and to pay a considerable amount of liquidated damages.

2. Be clear about the repayment method in advance

Nowadays, there are two main repayment methods for bank loans to buy houses, namely equal principal and interest and equal principal. Although the interest on the equal principal amount is less, the monthly payment is high and the pressure is relatively high. The total interest for equal principal and interest will be higher, but the monthly repayment pressure will be less. You can choose the appropriate repayment method by comprehensively considering your own situation.

3. Do not repay in advance within one year

According to the relevant regulations of bank loans, partial early repayment should be made after one year of loan repayment, and the repayment amount should be repayments over 6 months.

4. Repay the loan in full and on time

After obtaining the loan, the borrower must repay the loan in full and on time in accordance with the provisions of the loan contract to avoid leaving a bad credit record and causing Unnecessary trouble.

5. If you are unable to repay on time, you can apply for an extension

After the loan application is approved, the home buyer can repay the loan every month. What if you encounter difficulties along the way and are unable to repay the loan on time? Home buyers can apply to the bank to change the loan term, and if the lending bank agrees, the loan can be extended.

6. Remember to go through the mortgage cancellation procedures.

After the borrower has paid off the mortgage, he must not forget to go through the mortgage cancellation procedures. Otherwise, the house will always be mortgaged in the bank. If you want to do it in the future, Real estate mortgage loans cannot be applied for.