This means that you need to go to the bank to apply for a loan first.

The normal procedure is to pay the down payment first and then apply for the loan. But now loans are stricter. Many real estate companies will first ask you to review your loan information before signing a contract and asking you to pay a down payment.

Expansion:

Loan means that banks, credit unions and other institutions lend money to units or individuals who use the money, generally stipulating interest and repayment dates. Loans in a broad sense refer to the general term for lending funds such as loans, discounts, and overdrafts. Banks invest their concentrated currency and monetary funds through loans, which can meet the society's need for supplementary funds to expand reproduction and promote economic development. At the same time, banks can also obtain loan interest income and increase their own accumulation.