after the bank has collected all the information, it will submit an internal approval, and then it will take about 1 working days to go to the house management transaction to go through the mortgage registration formalities. After the transaction issues the certificate of ownership or the certificate of real estate registration, the bank will lend money within 3 working days.
if buying a house is an applied commercial loan, it usually takes about two weeks to one month from the time when the lender submits the information to the time when the loan is released. if it is a provident fund loan, the processing progress will be slower, and it may take 1-2 months or even longer.
what are the steps of the house loan process?
1. Before lending, the borrower fills in an application for residential housing mortgage, and submits the following supporting materials from the bank: appraisal report, appraisal certificate and insurance documents of the mortgaged property; Relevant certificates of housing ownership or proof that I have the right to control the housing in accordance with the law; Other documents or materials required by the lending bank; Contracts, agreements or other supporting documents for the purchase and construction of housing.
the borrower's fixed income certificate issued by the borrower's unit; A legally valid identity certificate of the borrower; Credit certification documents such as business license and legal person certificate of the loan guarantor.
2. The borrower submits the insurance policy and/or certificate of title of the mortgaged property to the bank for custody.
3. The bank examines the borrower's house purchase contract, loan application, agreement and relevant materials.
4. After the loan contract is signed and notarized, the bank's deposits and loans to the borrower are transferred to the house selling unit or building unit specified in the house purchase contract or agreement.
5. Guarantors of both borrowers and borrowers sign the housing mortgage loan contract and notarize it.
6. loan settlement, including early settlement and normal settlement. Settlement in advance: Before the maturity date of the loan, if the borrower settles the loan in part or in whole, he must apply to the bank in advance according to the loan contract, and the bank will make repayment at the designated accounting counter after approval.
normal settlement: the loan will be settled on the maturity date of the loan (installment repayment) or the last installment of the loan (one-time repayment of principal and interest); After the loan is settled, the mortgage registration cancellation formalities shall be handled at the original mortgage registration department with the loan settlement certificate. The borrower shall take back the legal documents and relevant supporting documents taken into custody by the bank with his valid identity certificate and the loan settlement certificate issued by the bank.