How to get a second home loan after the first home loan is paid off?
The interest of the second suite shall not be lower than 1. 1 times of the benchmark interest rate according to national regulations.
Loan process: (1)? The buyer and the seller sign a house sale agreement or a house sale contract; ⑵? Eligible buyers apply for loans from loan banks and provide relevant certification materials; ⑶? The buyer and the seller go to the appraisal institution designated (recognized) by the loan bank to conduct house appraisal;
⑷? The law firm authenticates, investigates and analyzes the borrower's credit certification materials and evaluation reports, and issues legal opinions; ⑸? The loan bank carries out examination and approval, and informs the loan applicant whether to agree to the loan; ⑹? The buyer and the seller go through the formalities of property right transfer, and after the transfer, the borrower goes to the bank to go through the loan formalities; ⑺? The buyer signs a second-hand house mortgage loan contract with the loan bank;
⑻? The buyer and the seller will send the transferred house ownership certificate to the loan bank for mortgage registration; ⑼? After the loan contract comes into effect, the loan bank will allocate funds according to the loan contract; ⑽? The borrower repays the loan on a monthly basis; ⑾? The borrower pays off the loan principal and interest and cancels the mortgage guarantee.