In principle, you can find a bank to apply for a loan by yourself. Home buyers have the right to choose a bank. However, in fact, many banks have cooperative relationships with certain developers. In the contract for buying such a new house, Usually there will be a sign that only designated banks can be used to apply for loans. After signing the contract, the home buyer will have no choice.

The process of buying a house with a loan

1. Choose a house that meets your expectations and confirm your intention to buy. It is best to look at more than 50 houses, which will naturally improve your ability to choose a house. Once you have this ability, the house you choose will be the one you really want.

2. Calculate the amount of down payment funds according to the local property market policies (policy requirements are different, some places require 30% down payment, and some require 40% down payment), and raise and pay the down payment funds, and the balance payment The payment is completed through a loan.

3. There are three types of loans: commercial loans, provident fund loans, and combined commercial and provident fund loans. Commercial loans generally provide faster disbursements as long as the loan conditions are met and the procedures are complete. However, compared with provident fund loans, the interest rate is higher; commercial provident fund loans have a longer cycle and slower disbursement speed. The loan amount is calculated based on the amount of personal provident fund, but the interest rate is relatively low.

4. When submitting a loan application, the home buyer needs to submit the original and photocopies of the house sales contract, household register, marriage certificate, ID card, income certificate and other documents. These are the basic information provided by the bank for the loan. Requirements, different banks have certain differences in requirements, buyers can just prepare the corresponding information according to their requirements.

5. After the information is submitted, the bank will verify the information you submitted, mainly to review the home buyer’s basic information, creditworthiness, and repayment ability. At the same time, the bank will also ask a professional appraisal company to evaluate the house. The value is evaluated (the evaluation result is generally slightly lower than the purchase price). After approval, the bank will notify 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 period of time and give you a copy of the real estate certificate (the original is mortgaged with the bank and will be returned to you after you repay the loan). After the developer gets the loan from the bank, it can hand over the house to you.