Process of applying for bank mortgage loan
1. Choosing a house property
If buyers want to obtain mortgage service of their houses, they should pay attention to this aspect when choosing a house property
2. Apply for mortgage loan
After confirming that the house property they choose is supported by bank mortgage, buyers should know the bank's regulations on mortgage loan support for buyers and prepare relevant legal documents. Fill in the application form for mortgage loan
3. Bank review
After accepting the loan application from buyers, the bank should review the qualifications of buyers from the aspects of civil subject qualification, credit status and repayment ability to confirm whether they meet the prescribed conditions
If the buyers blindly sign a house purchase contract with the developer without obtaining the bank's mortgage loan support confirmation, they will not be able to obtain a mortgage loan if they do not meet the bank's conditions, which will cause passivity outside the funds. Forced to choose other payment methods, thus affecting their own financial arrangements, or even giving up buying a house, resulting in the loss of the down payment
4. Signing a house purchase contract
After the bank receives the mortgage application and relevant legal documents submitted by the buyers and confirms that the buyers meet the conditions of the mortgage loan after examination, it will issue a loan consent notice or a mortgage loan commitment letter to the buyers
5. Signing a building mortgage contract
After the buyers sign a house purchase contract and obtain the proof of paying the house price, Sign the Building Mortgage Loan Contract with the developer and the bank with the relevant legal documents stipulated by the bank, and specify the amount, term, interest rate, repayment method and other rights and obligations of the mortgage loan
6. Deal with mortgage registration and insurance
Buyers, developers and banks go to the real estate management department for mortgage registration and filing with the Building Mortgage Loan Contract and the purchase contract. For the auction house, after the completion, the mortgage registration should be changed
7. A special repayment account should be opened
After signing the Building Mortgage Loan Contract, the home buyer should open a special repayment account in the financial institution designated by the bank and sign a power of attorney to authorize the institution to pay the bank's loan principal and interest and arrears related to the mortgage loan contract from this account. Bank of mortgage interest rates, the borrower can use the bank mortgage loan calculator for accounting.