1. Have a permanent residence in the town or a valid residence status;
2. Have a stable occupation and income, good credit, and the ability to repay the loan principal and interest on schedule;
3. Self-raised funds with more than 2% of the total price of the purchased house are guaranteed to be used to pay the down payment of the purchased house;
4. Assets recognized by the bank are used as collateral or pledge, or units or individuals with sufficient compensatory capacity are used as guarantors to repay the loan principal and interest and bear joint and several liabilities;
5. There is a house purchase contract or agreement, and the price of the house purchased basically conforms to the appraisal value of the bank or the real estate appraisal agency entrusted by the bank;
6. Meet other conditions stipulated by the bank.
Second, the mortgage loan process:
(1) Choosing real estate
If buyers want to get mortgage services, they should pay attention to this aspect when choosing real estate. When buyers learn that some projects can apply for mortgage loans in advertisements or through the introduction of sales staff, they should further confirm whether the real estate developed and built by developers has won the support of banks to ensure the smooth acquisition of mortgage loans.
(2) loan application
after confirming that the selected real estate is supported by the bank mortgage, the buyer should know the bank's regulations on the mortgage loan support for the buyer from the bank or the law firm designated by the bank, prepare relevant legal documents and fill in the Application for Mortgage Loan.
(3) Signing a house purchase contract
The bank receives the legal documents related to the mortgage application submitted by the buyers, and after examining and confirming that the buyers meet the conditions of mortgage loans, it issues the buyers with a loan approval notice or a mortgage loan commitment letter. Property buyers can sign the "Pre-sale and Sales Contract of Commercial Housing" with developers or their agents.
(4) Signing a building mortgage contract
After signing a house purchase contract and obtaining the payment voucher, the buyer will sign a Building Mortgage Loan Contract with the developer and the bank with the relevant legal documents stipulated by the bank to specify the amount, term, interest rate, repayment method and other rights and obligations of the mortgage loan.
(5) Handling mortgage registration and insurance
Buyers, developers and banks go to the real estate management department for mortgage registration and filing with the Building Mortgage Loan Contract and the purchase contract. For faster delivery, the mortgage registration shall be changed after completion. Under normal circumstances, due to the relatively long mortgage loan period, banks require buyers to apply for life and property insurance to prevent loan risks. When purchasing insurance, property buyers should list the bank as the first beneficiary, and the insurance shall not be interrupted during the loan performance period, and the insurance amount shall not be less than the total value of the collateral. Before the principal and interest of the loan are paid off, the insurance policy is handed over to the bank.
(6) Opening a special repayment account
After signing the Building Mortgage Loan Contract, the buyer opens a special repayment account in a financial institution designated by the bank as agreed in the contract, and signs a power of attorney to authorize the institution to pay the bank's loan principal and interest and arrears related to the mortgage loan contract from this account.
Third, the three advantages of mortgage:
1. Spend tomorrow's money to fulfill today's dream
Mortgage is a loan, that is, borrow money from the bank to buy a house. So you can buy your favorite house without spending a lot of money right away. This is the first advantage of mortgage purchase: you can buy a house with less money.
2. Use limited funds for multiple investments
From an investment perspective, mortgage buyers can invest their funds separately, lend to buy a house for rent, and then invest again, so that the funds can be used flexibly.
3. Check by the bank
Loans are borrowed from banks, so banks naturally care about the quality of real estate projects. In addition to reviewing borrowers themselves, banks will also review developers and check for borrowers, which is naturally highly insured.