In fact, mortgage loan is just a kind of guarantee for banks. From the bank's point of view, it is also hoped that users can repay in full and on time. After all, if the user defaults and fails to repay the loan, even if the bank sues for mortgage loan, the bank will have to pay a certain time cost and money cost. In view of this, banks will also strictly review users' credit information when handling housing mortgage loans.
Looking at a user's credit report will mainly look at two aspects. One is whether there are overdue records on the user's credit report, which indicates that the user has no good credit or insufficient repayment ability; The second is to check the debt situation on the credit report. After the loan is successful, it will be calculated according to the user's income, debt ratio and monthly payment to judge whether the user has the ability to cope with the subsequent repayment. If the debt is too high, it will also affect the handling of mortgage loans.
Housing mortgage loan handling process
1. Submit a loan application: The borrower must first confirm whether he meets the mortgage loan conditions of the bank, and then submit a loan application. Under normal circumstances, personal housing mortgage loans need to provide ID cards, household registration books, proof of income, corresponding contracts for personal consumption, proof of marital status, and house ownership certificates.
2. Bank evaluation loan: After receiving the borrower's loan application, the bank will evaluate the borrower's repayment ability and property value. According to the submitted materials, the bank should conduct on-the-spot investigation and evaluation of the mortgaged property. And it directly determines the amount of your mortgage. In addition, the borrower's personal credit information and income will also affect the bank's approval of loans.
3. Sign a loan contract: After the bank evaluates, if the bank has no doubt about the borrower's collateral and repayment ability, it will notify the borrower to sign a loan contract. Under normal circumstances, the lending institution will review it again according to the materials and evaluation reports submitted before. If approved, it will communicate with you the loan amount, interest rate, term and repayment method, and then you can sign the contract.
4. Lending: After the loan contract is signed, the borrower only needs to wait for the bank to issue the loan, and the lender opens a special repayment account for the borrower's loan. In addition, it should be noted that some banks will require borrowers to purchase mortgage property insurance, and the first beneficiary of insurance is the bank, which can reduce the risk of lending.