There are many reasons to limit the life of mortgage loans, such as the age of the lender, the age of the house, the nature of the property, the number and types of loans, etc. If you can only borrow for 20 years, there is no room for adjustment. If the income is not enough because of the loan term, you can only increase the down payment or provide other income channels.

The process of buying a house with a loan

1. Choose a house that meets your expectations and determine your purchase intention. It is best to look at more than 50 sets, which will naturally improve your ability to choose a house. With this ability, the house you choose is what you really want.

2. According to the local property market policies (different policy requirements, some places require a down payment of 30% and some places require a down payment of 40%), calculate the down payment amount, and raise and pay the down payment, while the final payment is paid by loans.

3. Loans are divided into three types: commercial loans, provident fund loans and combined commercial and provident fund loans. Generally speaking, as long as the loan conditions are met and the procedures are complete, the loan speed is faster, but the interest rate is higher than that of the provident fund loan. The loan period of commercial provident fund is long and the lending speed is slow. The loan amount is calculated according to the amount of personal provident fund, but the interest rate is relatively low.

4. When submitting the loan application, the buyer needs to submit the original and photocopy of the house sales contract, household registration book, marriage certificate, ID card and income certificate. These are the basic requirements for banks to provide loan information. Different banks have certain differences in requirements, so buyers can prepare corresponding materials according to their requirements.

5. After the information is submitted, the bank will check the information you submitted, mainly to review the basic information, reputation and repayment ability of the buyer, and also invite a professional appraisal company to evaluate the value of the house (the evaluation result is generally slightly lower than the purchase price). After the approval, the bank will inform you to sign a loan contract.

6. The bank lends money and completes the loan. After the loan contract is signed, the bank will complete the loan in a short time and give you a copy of the real estate license (the original is mortgaged in the bank and will not be returned to you until you pay off the loan). After the developer gets the loan from the bank, he can hand over the house with you.