The difference and connection between a mortgage loan and a mortgage loan

The difference between a mortgage loan and a mortgage loan:

A mortgage loan is a loan that is repaid in installments and can be secured. As a guarantee, it may also be a credit loan or a pledge loan, which is characterized by being issued once and repaid in installments.

A mortgage loan is a loan that uses physical assets or intangible assets such as houses, land, equity, machinery and equipment as collateral. The specific repayment method is as agreed with the bank.

Mortgage loan refers to a kind of loan business carried out in the form of mortgage. For example, a home mortgage loan is a personal home loan business in which the home buyer uses the home purchased as a mortgage and the real estate company where the home is purchased provides a periodic guarantee. The so-called mortgage means that the mortgagor transfers the property rights of the house for mortgage, and the beneficiary serves as the guarantor for the loan repayment. After the mortgagor repays the loan, the beneficiary immediately transfers the property rights of the house involved to the mortgagor, and the mortgagor enjoys the right to use it during the process.

The word "mortgage" is originally a local dialect and is more common in Hong Kong, Macao and Taiwan regions of China. Since the late 1980s, it has gradually appeared in mainland my country from south to north. Except for the Hong Kong Special Administrative Region, there is no mortgage requirement in Chinese law. Before Hong Kong returned to the motherland, Hong Kong's mortgage regulations were divided into broad and narrow definitions.

Mortgage in a broad sense refers to any form of pledge (a pledge is a mortgage of movable property) and mortgage; mortgage in a narrow sense refers to transferring real estate to the name of the lender, and then transferring the real estate back after the loan is paid off. into the name of the borrower (mortgagor). There are certain differences between the mortgages stipulated in the "Urban Real Estate Management Law" and the "Security Law" and the mortgages in Hong Kong. That is, the definition of mortgages in these two laws is conditioned on the non-transfer of possession. "Mortgage" has two meanings: real estate mortgage and installment payment. Refers to a type of loan issued by a bank to a natural person with full capacity for civil conduct to purchase a self-occupied house, using the purchased property as collateral as a guarantee for repayment of the loan, and repaying the principal and interest of the loan on a monthly basis.

It is divided into personal housing commercial loans (referred to as commercial loans) and personal housing provident fund loans (referred to as provident fund loans). Specifically, a mortgage loan means that a home buyer obtains a loan from a bank using the purchased building as collateral. The home buyer pays the bank in installments in accordance with the repayment method and period specified in the mortgage contract; the bank charges interest at a certain interest rate. If the lender defaults, the bank has the right to seize the home.

Mortgages can be divided into existing mortgage loans and pre-construction mortgage loans. Existing property mortgage means that the borrower borrows money to purchase an existing property and uses the existing property as collateral. An off-plan mortgage is a mortgage loan provided by a financial institution to buyers who purchase an off-plan building (a building that has been pre-sold before completion, such as a whole building, strata or units), and is secured by the borrower's rights according to the home purchase contract.

Guarantor conditions for mortgage to buy a house

Loan to buy a house is a credit act. In order to ensure that the loan can be paid back in full and on time every month, the bank needs the borrower to provide a guarantor. To spread risks, banks require a loan guarantor, and the guarantor is conditional.

The guarantor conditions for home purchase loans are as follows:

1. Have full capacity for civil conduct;

2. Have a local urban permanent residence or valid residence status, work, Income is relatively stable;

3. Continuous normal payment of housing provident fund for more than 6 months and more than 1 year of deposits in the account;

4. No provident fund loan balance and others Bad debt;

5. The housing provident fund shall not be withdrawn or the housing provident fund loan applied for before the borrower has fully repaid the principal and interest of the loan or canceled the guarantee;

6. The age of the guarantor plus the guaranteed loan term The legal retirement age must not be exceeded. Natural person guarantees should provide the guarantor's ID card, household registration book, income certificate and housing provident fund account number, and sign a guarantee contract with the trustee bank.

The responsibility of the personal housing loan guarantor depends on your agreement in the guarantee contract, which can be a general guarantee or a joint liability guarantee.