Generally speaking, there is no IOU for a house purchase loan. When a bank applies for a home purchase loan, the bank will sign a loan contract and related agreements with the borrower. After applying for a loan, the borrower must keep the loan contract and related agreements. These are important legal documents. After the borrower has paid off the loan, he can bring the loan contract and other relevant materials to the bank to get the loan settlement certificate. Then, with the loan settlement certificate and other documents, he can go to the Housing Authority to handle the house mortgage release procedures.

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