The mortgage interest rate is generally the annual interest rate. Because the shortest loan term of housing loan is 1 year and the longest loan term is 30 years, the mortgage interest rate will be agreed in the mortgage contract. If the user chooses a fixed interest rate, the mortgage interest rate will not change during the whole loan period. When users choose floating interest rate, when LPR is adjusted, the mortgage interest rate will also be adjusted. Therefore, the mortgage interest rate exists in the form of annual interest rate, and it will even be adjusted once a year when users choose the floating interest rate model.

：

Housing loan processing flow

1. After confirming that the property selected by the buyer has bank mortgage support, the buyer should understand the bank's regulations on the buyer's obtaining mortgage support from the bank or the law firm designated by the bank, prepare relevant legal documents and fill in the mortgage application.

2. After the house purchase contract is signed, the bank receives the legal documents related to the mortgage application submitted by the buyer, and issues the buyer's loan consent notice or mortgage loan commitment letter after verifying that the buyer meets the mortgage loan conditions. The buyer may sign a pre-sale contract with the developer or his agent.

3. After signing the real estate mortgage contract and obtaining the proof of payment, the purchaser shall sign the housing mortgage contract with the developer and the bank according to the relevant legal documents stipulated by the bank, and specify the amount, term, interest rate, repayment method and other rights and obligations of the mortgage loan.

4. Mortgage registration: Insurance buyers, developers and banks shall go through the mortgage registration and filing procedures with the real estate management department on the basis of the mortgage loan contract and the house purchase contract, and go through the mortgage change registration after the new house is completed. Usually, due to the long term of mortgage loans, banks require buyers to apply for life and property insurance to prevent loan risks. When purchasing insurance, the buyer shall list the bank as the first beneficiary, and shall not interrupt the insurance during the loan performance. The insurance amount shall not be less than the total value of the collateral, and after the repayment.

5. After signing the house mortgage loan contract, the buyer shall open a special repayment account in the financial institution designated by the bank as agreed in the contract, and sign a power of attorney to authorize the institution to pay the loan principal, interest and arrears related to the account mortgage loan contract. The bank is ensuring that the buyer meets the mortgage loan conditions and fulfills the obligations stipulated in the mortgage loan contract. After handling the relevant formalities, the loan will be transferred to the bank supervision account opened by the developer in the bank as the purchase money of the purchaser.