Housing renovation loans are not directly credited to personal bank accounts, while renovation loans handled by banks are directly credited to decoration company accounts.

Conditions for applying for housing renovation loans

1. China citizens with permanent residence or valid residence status in cities and towns, aged over 18 and under 60, with full capacity for civil conduct.

2. There is a property certificate or proof that the borrower has the right to use the house issued by the house property unit; If the property right of the house you want to decorate is your own, you must have a property certificate. If it is a unit house, you need to prove that you have the right to use it.

3. Have a stable occupation and income, good credit, and the ability to repay the loan principal and interest on schedule.

To prove that you have a stable occupation and income, except for those who work in state-owned factories, private enterprises or self-employed, your unit can issue a written certificate of stable economic income in the last two years or provide a tax receipt for your personal income tax payment in the last two years.

Note: Applicants can apply for a house renovation loan with the renovated house as collateral. As long as the renovated house is not mortgaged in the bank and meets the requirements in terms of face value and market value, the loan amount is generally about 70% of the value of real estate assessment.

Extended data:

First, housing renovation loan application materials

1. Original and photocopy of legal identity documents (resident identity card, household registration book or other valid residence documents)

2. The house title certificate or house use certificate with the borrower's name.

3, the economic income certificate issued by the unit.

4, housing renovation project construction contract

5. If it is a mortgage loan, it is required to have the property right certificate of the mortgaged property, the list of pledged property, the certificate that the person who has the right to dispose of it agrees to mortgage or pledge, and the appraisal report of the mortgaged property.

6. The Guarantor agrees to provide written guarantee documents and credit certificate of the Guarantor.

Second, housing renovation loans related matters needing attention

1. Personal housing renovation loan is a loan issued by the bank to the borrower for the renovation of its own housing. The house decoration here refers to the engineering activities of transforming and processing houses by using decorative materials. In other words, the property must be your own.

2. The special requirements in the decoration loan are: having the house renovation contract, decoration budget and related materials signed with the decoration and decoration enterprises approved by the relevant departments; Some banks also require owners to have no less than 30% of the total decoration budget, and then use the loan after investing in the project construction.

According to bank regulations, personal consumption loans are generally not allowed to be withdrawn. The bank will transfer the money to the account of the decoration company.

4, the loan period is generally not more than 5 years.