Therefore, you can only apply if you can't pay off your personal mortgage. What needs to be understood is that since the personal mortgage has not been paid off, if you apply for a loan in the bank again, the bank will look at your repayment ability according to your current income and monthly payment. So in this way, because there are still mortgages to be repaid, the amount of loans that individuals can apply for will also have a certain impact.
If an individual has not paid off his mortgage, it is better to apply for a small loan than a large loan. Unless there is a mortgaged property in the applicant's name, the bank will still check the applicant's repayment ability.
Provident fund loan process:
Step 1: Loan application: When applying for provident fund loan, the borrower shall submit a written application to the municipal housing provident fund management center and submit the above-mentioned corresponding handling materials.
Step 2: Waiting for notification: According to the application materials provided by the borrower, the municipal housing provident fund management center conducts a pre-loan investigation on the borrower, makes a decision on whether to approve the loan within 15 working days, and informs the applicant.
Step 3: Sign a contract: For the loan approved by the Municipal Housing Provident Fund Management Center, the borrower signs a loan contract and related contracts or agreements with the loan bank.
Step 4: Go through the guarantee formalities: If collateral is used as the guarantee, the borrower should go through the mortgage registration formalities at the property right management department; Where securities are pledged, the borrower shall hand over the securities to the lending bank for safekeeping.
Step 5: Bank loan: After the loan formalities are completed and approved by the Municipal Housing Provident Fund Management Center, the loan bank will transfer the loan funds into the account of the seller within 3 working days.