Matters needing attention in applying for mortgage loan
1. Don't use the provident fund before applying for a loan. If the borrower takes the balance of the provident fund to pay the house payment before the loan, the balance of the provident fund in your provident fund account will be zero, and your provident fund loan amount will be zero, which means you will not apply for a provident fund loan.
2. Don't repay the loan in advance in the first year. According to the relevant provisions of the provident fund loan, part of the prepayment should be made one year after the repayment, and the amount you return should exceed the repayment amount of six months.
Don't forget to find the bank around you if you have difficulty in repaying the loan. Don't insist on it yourself when your solvency drops during the loan period and it is difficult to repay. ICBC customers can apply to ICBC for extending the loan term. According to our investigation, if there is no default in loan principal and interest, we will accept your application for extension.
4. Don't forget to inform when renting a house after the loan. When renting a mortgaged house during the loan period, the lessee must be informed of the mortgage facts in writing.
Don't forget to cancel the mortgage after the loan is paid off. When you have paid off all the loan principal and interest, you can go to the district/county real estate trading center where the property is located to cancel the mortgage with the bank's loan settlement certificate and other real estate rights certificates of the collateral.
6. Don't lose the loan contract and IOUs. To apply for a mortgage loan, the loan contract signed between the bank and you and the iou are all important legal documents. As the loan term can be as long as 30 years, as a borrower, you should take good care of your contracts and IOUs.