1) Personal housing revolving credit can be used:

Personal housing revolving credit refers to the revolving credit issued by the lender within the credit period and available credit line after the house is mortgaged to the bank for loan credit, and it can also be repaid with the loan.

For example:

If you buy a house with a price of 500,000 yuan, the bank will lend you 400,000 yuan at a maximum of 80%. If the house is mortgaged to the bank, it can be recycled within the credit line of 400 thousand. Generally speaking, there are two situations. One is that according to the mortgage of your house, the bank can lend you 400,000 yuan, while you only borrowed 300,000 yuan. Then you can come to the bank for a loan at any time when you need money until you use up the remaining credit line. Loans can be used for decoration, car purchase, education, etc. In addition, you can also borrow money at the same time during the repayment process. For example, your credit line is 400 thousand, and you borrowed 400 thousand. But a few years later, you returned 200 thousand to the bank. As long as you need money during the credit period, you can borrow another 200 thousand from the bank. When your house increases in value, you can also ask the bank to re-evaluate your property and increase your credit limit.

The credit line of the house is related to the age and location of the house: within 5 years of the age of the house, 80% of the credit can generally be given; 70% credit can be granted if the room age is between 5 years and 10 years; If the house is over 65,438+00 years old, only about 6.5% credit can be granted. The mortgage customer of the bank where the loan is located can apply directly to the branch of the bank; Customers of other banks can handle mortgage transfer.

The age of the applicant for housing credit plus the validity period of the credit line shall not exceed the statutory retirement age plus 5 years. Credit application period+age: male

2) If the loan bank doesn't offer this business, you can go to the bank that offers this business, such as China Merchants Bank, to go through the formalities of transferring the loan and realize the revolving credit!

Interpretation of the main points of personal housing revolving credit business of China Merchants Bank;

First, the noun explanation:

Revolving credit for individual housing: Revolving credit for individual housing refers to the business that natural persons (credit applicants) apply for revolving credit lines from our bank with their own houses as the maximum collateral, and the transferee can apply for personal loans with clear consumption purposes to be reused from our bank without exceeding the validity period and available credit lines.

Available amount: refers to the amount available for issuing loans under the revolving credit line of housing, which is equal to the difference between the revolving credit line of housing and the balance of loans issued under this line.

Maximum mortgage: the maximum mortgage refers to the agreement signed by the mortgagor and the mortgagee to guarantee the creditor's rights that occur continuously in a certain period with collateral within the limit of the maximum creditor's rights.

Second, the scope of development

Both the first-hand building and the second-hand building can cooperate. Personal housing loans of our bank or other banks can be converted into housing revolving credit, and self-owned housing that has been paid off or paid off in one lump sum can also handle housing revolving credit business.

Third, the credit object and conditions

Property conditions: only ordinary commercial houses or self-occupied villas, and commercial houses such as shops and office buildings cannot be used as mortgage properties for personal housing revolving credit business.

Verb (abbreviation of verb) Basic provisions of loan under credit line

If the purchased mortgage of forward house is used for revolving credit, the second loan under this credit can only be issued after the mortgage of forward house is converted into the mortgage of existing house.

It must be used for personal consumption, and it is not allowed to issue loans without specified purposes, and it is not allowed to repay non-housing loans under stock market and securities investment credit. Only equal repayment, average capital,