When a student applies for a mortgage, one parent can serve as a guarantor. But banks have certain requirements for the age of parents. If the father is the guarantor, the age must not be older than 65 years old. If the mother is the guarantor, the age cannot be older than 60 years old.

What conditions do school students need to meet to apply for a mortgage loan?

1. Have full civil capacity and a legal and valid identity document.

2. Have the ability to repay the principal and interest of the loan.

3. Good credit status.

4. A legal and valid house sales contract has been signed, and the house purchased is for residential use.

5. Proof of down payment not less than the minimum required ratio.

6. In principle, the purchased house is used as a mortgage guarantee.

7. Other conditions specified by the bank.

Information required to apply for a mortgage

Valid identity certificate (ID card, household registration book, etc.) for yourself and your spouse. Self-employed individuals must provide a business license (the original will be verified and a copy will be retained) ; Proof of the borrower's marital status (marriage certificate or single certificate); proof of income and property of the borrower and spouse; house purchase contract and down payment receipt; letter of commitment to mortgage the property; bank housing mortgage loan application approval form.

The process of applying for a home loan

1. Sign a house sales contract. Of course, this is only a contract of intention. You do not need to go to the owner or pay a down payment first. The deposit depends on you and your ex. The conditions are negotiated.

2. Submit a loan application to the bank. After the bank accepts your application, if the information is incomplete or insufficient, it will ask you to provide additional information. Generally, the approval time will be about 2 weeks.

3. When the bank approves your loan application (it agrees to your loan application, not to grant you a loan), you should pay attention and ask the bank staff how your loan will be processed. After the mortgage is completed, we can arrange a time to lend you the loan. Once confirmed, you can go through the transfer process and pay the down payment.

4. Sign a loan contract with the bank, pay various fees, and apply for mortgage and insurance. When signing a loan contract, you should carefully read the terms inside it, because most bank handlers make these loan contracts in batches, and mistakes and omissions are inevitable.

5. Handle mortgage and insurance procedures.

6. For loans, some banks require customers to go to the bank again to apply for loans. After disbursing the loan, remember to ask the bank for a copy of your loan contract and IOU. For second-hand houses, there is also an insurance policy, appraisal letter, etc. Also make two copies of the real estate certificate. Remember to ask for the official seal of the bank, because some agencies and departments require it when doing business.