The loan amount is generally related to factors such as the loan applicant’s bank statements and income certificate. Although there is no high limit for commercial loans, banks will determine the high loan limit based on the monthly repayment ability of the loan applicant. The high loan limit shall not exceed 80% of the total house price, and the second-hand house shall not exceed 70%.
The calculation method of the commercial house purchase loan limit is as follows: the repayment ability of the family's monthly income minus living expenses and other expenses is divided by the monthly repayment amount per 10,000 yuan of the corresponding loan period to obtain the loan limit. The amount of the loan is still closely related to the information provided by the lender, including ID card, household register, income certificate and tax certificate. In addition, proof of personal financial situation must be provided. Second, the loan applicant needs to provide a home purchase contract and other documents required by the bank.
What to do if the loan limit is not enough
1. Consider combination loans
Some friends will find that the provident fund loan limit is not enough when applying for a provident fund loan. Consider taking the form of a portfolio loan. Not only do portfolio loans have lower interest rates than pure commercial loans, but they can also solve the current problem of insufficient loan amounts. However, everyone should also note that the procedures for combined loans are complicated and the loan approval time is relatively long, so you should consider comprehensively based on your own situation.
2. Consider changing to another bank
Some people will have their loan limits reduced by banks with stricter approval due to bank flow or credit reporting. At this time, you can actually go Consult other banks, as some banks may not be so strict on certain aspects and may approve the loan smoothly.
3. Consider adding a guarantor
For some people, due to factors such as work or income, the bank may feel that it cannot guarantee monthly loan repayments and reduce the loan amount. In this case, the lender may consider Add a guarantor to allow the bank to increase the loan limit.
What is the process of buying a house with a loan
1. When choosing a property, you should focus on understanding this aspect. When home buyers learn from advertisements or introductions from salespeople that mortgage loans are available for some projects, they should further confirm whether the properties developed and constructed by the developers are supported by banks to ensure the smooth acquisition of mortgage loans.
2. After confirming that the property of their choice is supported by a bank mortgage, the home buyer should learn from the bank or the bank's designated law firm about the bank's regulations on the home buyer's mortgage loan support, and prepare relevant legal documents. Fill out the "Mortgage Loan Application Form".
3. After the house purchaser signs the house purchase contract and obtains the proof of payment of the house payment, he shall sign the "Building Mortgage Loan Contract" with the developer and the bank with the relevant legal documents specified by the bank, specifying the mortgage loan amount, Tenor, interest rate, repayment method and other rights and obligations. Home buyers, developers and banks should go to the real estate management department to go through the mortgage registration and filing procedures with the "Building Mortgage Loan Contract" and the house purchase contract.
4. For off-plan properties, mortgage changes should be registered after completion. Under normal circumstances, because the mortgage loan period is relatively long, banks require home buyers to apply for life and property insurance in order to prevent loan risks. When a home buyer purchases insurance, the bank should be listed as the first beneficiary. The insurance must not be interrupted during the loan performance period, and the insurance amount must not be less than the total value of the mortgage.
5. The bank will fulfill the obligations stipulated in the "Building Mortgage Loan Contract" after confirming that the home buyer meets the mortgage loan conditions. After completing the relevant procedures, the loan will be transferred to the developer's bank account in a one-time manner as the purchase price of the home buyer.