1. The borrower applies for a loan at the accepting bank. 2. Accept the branch to handle the property status inquiry under the family name. 3. The acceptance department accepts the contract. 4. Approval. 5. The real estate trading center shall handle the mortgage registration formalities. 6. Bank loans.
Legal basis: Civil Code of People's Republic of China (PRC).
Article 667 A contract is a contract in which the borrower borrows money from the lender, repays the loan at maturity and pays interest.
Article 668 A contract shall be in written form, except as otherwise agreed between natural persons.
The contents of a loan contract generally include terms such as loan type, currency, purpose, amount, interest rate, term and repayment method.
Article 669 When concluding a loan contract, the borrower shall, at the request of the lender, provide the true information about the business activities and financial status related to the loan.