The Buyer is the Borrower:
The purchaser himself meets all the conditions of the loan, and can use his own name to purchase a house and make a loan. The name on the property certificate is the name of the purchaser himself and the name of the lender.
The buyer is not the borrower:
The buyer himself does not meet all the conditions of the loan, including that the buyer is a minor, or although the buyer is an adult, his economic income and other indicators do not meet the requirements of the bank loan. At this time, there may be an auxiliary repayment person, the buyer's parents or others.
Buying a house by loan refers to the loan business in which the buyer applies for a loan from the bank to pay the house purchase price with the building traded as collateral, and then the buyer pays the principal and interest to the bank in installments, also known as house mortgage loan.
What is the process of buying a house loan?
1. Apply for a loan from a bank and submit the following materials:
1. Original and photocopy of ID card (referring to resident ID card, household registration book and other valid residence certificates). Foreigners also need to provide valid certificates and copies of their spouses, and marriage certificates if the borrower and spouse are not in the same household registration book;
2. 30% of the house price, 40% or more of the deposits raised by foreigners, and proof of economic income issued by the work unit with repayment ability;
3. Ask the sales unit:
A. A copy of the pre-sale permit (auction house) of domestic commercial housing in Shanghai or the real estate license (existing house) in Shanghai.
B. A copy of the business license of the sales unit;
4. List of collateral or pledge, proof of ownership and proof that the person with the right to dispose agrees to mortgage or pledge;
5 collateral appraisal certificate issued by the competent department;
6. The Guarantor agrees to provide written guarantee documents and credit certificate of the Guarantor.
2. The loan amount and duration
1. For residents in this city, the maximum loan amount is 70% of the house price, and the longest loan period is 20 years.
2. For foreigners, the maximum loan amount is 60% of the house price, not exceeding 300,000 yuan, and the longest loan period is 10 year.
Three. Loan bank review
The loan bank examines the materials and certificates provided by the borrower, mainly to examine whether the borrower belongs to the borrower, whether it meets the loan conditions and whether it has enough ability to repay the loan principal and interest, and then determine the actual loan amount and inform the borrower of the loan commitment.
Four. sign a contract
1. The borrower's loan bank signs a personal housing commercial loan contract with the house selling unit (guarantor, the guarantee period is until the borrower's real estate license is handed over to the loan bank for safekeeping).
2. The borrower's loan bank signs a housing mortgage contract.