If the loan for buying a new house is not approved, the down payment can be refunded.

The handling of different situations is different. First, check whether the contract states who will bear the liability for breach of contract. However, if there is no agreement or the agreement is unclear, the situation will be handled as follows:

1. Developer’s reasons

If it is because the developer does not have a pre-sale license, or the salesperson does not have the qualifications If the bank refuses to approve the loan due to the condition of the existing house, the buyer can ask the developer to return the down payment and deposit. In addition, the developer can also be required to pay corresponding interest losses.

2. Reasons of the home buyer

If the bank does not approve the loan because the information provided by the home buyer is untrue or the home buyer’s credit record is not good, then the home buyer They should bear the liability for breach of contract and not only cannot get the down payment. You may even be asked for compensation.

3. Reasons other than those between the buyer and the seller

If the loan that the home buyer should have obtained cannot be realized due to changes in government policies or bank regulations, then the purchase of a house Investors should negotiate with the developer. If negotiations fail and there is no agreement in the contract, in this case, the home buyer can sue and prove that he is not at fault and is indeed unable to purchase the house, thereby requiring the developer to return the down payment and deposit.

Whether you can still apply for a mortgage after being rejected depends on the circumstances:

1. Credit issues

If you are a home buyer, your mortgage application is If you are rejected due to personal credit problems, then it will be difficult to apply for a loan again under such circumstances. Because every bank has similar strict requirements on credit issues.

2. Policy issues

As a home buyer, if your mortgage application is rejected due to the current mortgage market, policies, etc., then don’t worry, because you can definitely Choose to try again later. You have to wait at least about half a year after the policy is passed.

3. Incomplete information

As a home buyer, if your mortgage application is rejected due to incomplete preparation of information, there is no need to be discouraged. Because when you prepare all the materials for your second loan application, you can usually get the loan.