Of course. If the loan is not approved, or the application for mortgage loan for faster house purchase fails, it can be changed to a one-time full purchase. However, if you have applied for a loan, you need to contact the bank to apply for cancellation of the loan, so as not to affect your personal credit information.

Each bank's requirements are different, but generally speaking, after signing the mortgage contract for one year, you can choose to change the monthly payment or pay it in one lump sum. There is no need to sign a new contract as long as both parties are equal and voluntary and do not violate the law. The supplementary agreement can change the payment method, require the issuance of invoices, and need to be audited for compliance with the law.

In short, it is very important for borrowers to manage their own housing loans. As for which repayment method to choose, everyone should combine their own loan amount, repayment ability and family economic foundation. After all, what suits you is the best.

What is the loan process for buying an auction house?

1. Employees who purchase houses can negotiate with the loan undertaking bank or housing provident fund management institution through the selling unit to calculate the loanable amount and term.

2. The purchaser applies for a loan from the undertaking bank, and at the same time submits a copy of relevant information, and at the same time brings the original for inspection.

3. After receiving the notice from the handling personnel, the approved loan applicant shall sign the loan contract and other relevant contract texts at the agreed place at the agreed time to handle the housing home purchase guarantee.

4. Go through the formalities of house purchase transaction and mortgage registration. If the auction house is bought by mortgage, it depends on the payment time of the developer. Generally, mortgage procedures will be handled before handing over the house.

5. The loan that has gone through the formalities shall be issued to the borrower by the loan undertaking bank according to the provisions of the loan contract, and the loan funds shall be directly transferred to the account designated by the seller of the property purchased by the borrower.

6. Because there are certain risks, it doesn't matter what kind of payment method and the price of the auction house. What matters is whether the real estate developer you choose is formal, qualified and powerful.