1, the reason of the developer
If the loan cannot be obtained because of the developer's problems, such as the developer has not obtained the pre-sale permit or sold an existing house that does not have the conditions for use, at this time, the buyer can terminate the contract according to the contract and claim that the developer should bear the liability for breach of contract and refund the down payment.
2, the buyer's reasons
If the bank refuses the loan because of the buyer's own problems, such as the untrue information provided or the buyer's bad credit record, and the buyer does not indicate in the contract that "if the loan cannot be processed, the buyer can terminate the contract without bearing the liability for breach of contract, and the developer needs to return the down payment", the buyer shall bear the liability for breach of contract.
What needs to be noted here is that if the following situations occur that the buyers cannot borrow money for their own reasons, generally speaking, as long as the remedial measures are proper, banks will lend money soon.
A. If the buyer refuses the loan because of his own credit or unqualified running water, then the buyer can improve his credit through other assets or certificates of deposit. In addition, you can apply to the bank again by increasing the down payment ratio and reducing the loan amount.
B. If the loan is refused because of incomplete information, the buyer can collect it again and then apply to the bank. It should be noted that the information must be true. If it is false, once it is discovered, not only will this loan fail, but it may also affect future loan applications.
3. Non-buyer-seller reasons
If the property buyers can't get a loan because of the change of loan policy or bank regulations, it is force majeure, that is, an objective situation that can't be foreseen, avoided and overcome when concluding a contract. In this case, the buyer can negotiate with the developer to terminate the purchase contract without having to bear the liability for breach of contract, and the buyer can ask the developer to refund the down payment and deposit.
What should I pay attention to when buying a house with a loan?
1. Evaluate the economic strength and apply for a loan according to your own ability.
Before applying for a loan to buy a house, the borrower must have an assessment of his own economic strength and repayment ability, and make a correct judgment on his current economic strength and repayment ability. Make a correct and objective forecast of your future income and expenditure. Only in this way can we apply for a suitable loan amount according to our own evaluation.
2, provide real information, not to accept fraud.
To apply for personal housing commercial loans, banks generally require borrowers to provide proof of economic income. For the borrower, it is necessary to provide personal real information. This is because if the borrower's income does not reach a certain level, and the lender does not have enough repayment ability, it is likely to default at the initial stage of repayment. Moreover, providing false materials will reduce the borrower's trust, affect the bank's audit, and lead to the inability to lend money.
3. Know the repayment method in advance and choose the repayment method that suits you.
At present, there are basically two repayment methods for individual housing loans: one is equal principal and interest repayment, and the other is equal principal repayment.
Matching principal and interest: the repayment method of matching principal and interest is to add up the total principal and interest of the mortgage loan and then distribute it evenly to each month of the repayment period. The monthly repayment amount is fixed, but the proportion of principal in the monthly repayment amount increases month by month, and the proportion of interest decreases month by month. This method is the most common.
Average capital: in the average capital, the total loan amount is divided into equal parts during the repayment period, and the same amount of principal and interest generated by the remaining loans in the month are repaid every month, so that the monthly repayment amount is fixed and the interest is less and less.
The loan calculation formula of average capital:
Monthly repayment amount = (loan principal/repayment months)+(principal-accumulated amount of repaid principal) × monthly interest rate.
The advantage of matching principal and interest repayment is that borrowers can accurately grasp the monthly repayment amount and arrange family income and expenditure in a planned way.
Average capital repayment method is more suitable for individuals who have strong repayment ability in the initial repayment stage and want to repay a large amount in the initial repayment stage to reduce interest expenses.
4. Give priority to the use of provident fund loans.
The down payment ratio and interest rate of provident fund loans are low, so if buyers meet the conditions, they should put provident fund loans in the first place. If the buyers use commercial loans, they can also withdraw the provident fund to pay the house payment or monthly payment after signing the purchase contract.
5. Pay attention to liquidated damages for repaying loans in advance.
To apply for early repayment, some banks will charge a certain percentage of liquidated damages, and some have requirements on repayment time. Whether it is cost-effective to repay the loan in advance depends on several comprehensive factors, such as floating loan interest rate, personal repayment ability and housing demand, which are not absolutely suitable or not. It should be noted that banks have different requirements for repaying loans in advance, so it is best to consult the loan bank in advance.
6. Keep the promissory note of the contract, and don't lose important documents.
The longest loan period can reach 30 years. As a borrower, you must take good care of your contracts and IOUs. These loan contracts and IOUs signed by banks are important legal documents when applying for mortgage loans.