What are the loan conditions for foreigners to buy a house?
1. Agree to use the purchased house as pawn guarantee.
2. The age of the borrower plus the loan period shall not exceed 65 for men and 60 for women.
3. A thorough level of civil conduct and a permanent residence in China may be useful for residence status.
4. Need to pay a down payment of not less than a certain percentage of the total price of the purchased house.
5 have a stable job, economic resources, excellent reputation, and the level of repayment of loan principal and interest.
6. A house purchase contract or agreement has been signed.
What are the procedures for foreigners to buy a house loan?
1. The borrower shall fill in the application form for personal housing loan from the bank and provide relevant information. Materials include: resident identity card or other useful documents; Proof of the borrower's economic income or debt repayment level; A contract or agreement to buy a house, etc. The original and three copies of relevant materials provided by the lender to the bank are required.
2. The lending bank shall check and evaluate the practicability, legality and feasibility of all documents and materials submitted by the borrower, and give an answer to the applicant within regular working days (the number of working days for each bank's reply is different).
3. After the loan bank approves the loan, the loan parties sign a loan contract and jointly handle the guarantee procedures such as pledge contract, pawn contract or guarantee contract according to the loan guarantee method.
4. After the signing of the loan contract, according to national laws and regulations and relevant bank regulations, the borrower needs to go through other procedures such as financial insurance, pawn registration and contract notarization.
5. Both parties to the loan shall determine the loan amount and term according to the loan contract. The amount of commercial loans for individual housing generally does not exceed 70% of the value of the purchased housing, and the loan period does not exceed 30 years.
6. After the approval of the bank, the loan will be issued. The borrower opens an account in a bank and pays the down payment (generally 30%) for the house purchase. The house purchase agreement is valid, and the borrower begins to repay the principal and interest on schedule.
What should foreigners pay attention to when they borrow money to buy a house?
If non-local residents who are unable to provide local tax payment certificate or social security payment certificate 1 year or more require to issue residential loans, the lender will implement the second set (or above) of differentiated residential credit policies, which may increase the down payment and loan interest rate.
The approval procedures and processes of each bank are different, but lenders are generally required to provide: household registration certificate provided by the public security organ where the household registration is located, job certificate issued by the unit, income certificate, local temporary residence certificate, local fixed address and measures. The bank will check the borrower's credit history and so on.
There are many kinds of loans to buy a house, including provident fund loans and commercial loans. If the provident fund loan is just before the loan, you should know how much money is in your provident fund account and how much money the unit gives you every month. As long as you know your level, you can borrow money. If it is a commercial loan, it is necessary to measure the level of capital affordability.
It follows the following three standards: 1. The monthly repayment amount of the loan is less than or equal to 50% of the monthly disposable income-monthly property management fee; 2. The monthly repayment amount of the loan is less than or equal to 55% of monthly disposable income-monthly property management fee-monthly repayment amount of other debts; 3 cash, bank deposits and other emergency funds need to be able to maintain daily expenses for more than three months in case of emergency.
Demand suggests that most banks provide mortgage repayment methods to change their affairs, and there are also loan repayment combinations. If you find that the current mortgage repayment method is not suitable, you should consult professionals and choose the appropriate combination method to make changes, so as not to hurt your reputation and put yourself under too much pressure.