Mortgage loan process

(1) application. The customer submits a written loan application to the bank and submits relevant materials. (2) sign a contract. After receiving the loan approval notice from the bank, the loan applicant shall sign a loan contract and a guarantee contract with the loan bank, and handle notarization, mortgage registration, insurance and other related procedures as appropriate.

(3) open an account. Customers who choose entrusted deduction for repayment need to sign an entrusted deduction agreement with the bank, and open a special savings passbook account, savings card or credit card account for repayment at the business outlets designated by the lending bank. At the same time, the seller shall open a settlement account or deposit account with the loan bank.

(4) the issuance of loans. With the consent of the lending bank, the lending bank will directly transfer the loan to the deposit account opened by the borrower in the lending bank, or transfer it to the deposit account opened by the seller in one lump sum or by stages according to the loan contract.

(5) Repayment on schedule. The borrower shall repay the principal and interest of the loan according to the repayment plan and repayment method agreed in the loan contract. At present, there are two repayment methods to choose from: entrusted deduction and counter repayment.

(6) Loan settlement includes early settlement and normal settlement. Early settlement refers to the settlement of the loan (one-time repayment of principal and interest) or the last loan (installment loan) before the loan maturity date; Normal settlement refers to the settlement of the loan on the maturity date of the loan (one-time repayment of principal and interest) or the last installment of the loan (installment loan). If the loan is settled in advance, the borrower shall submit an application for early settlement to the loan bank 10 working days in advance after paying off all the payables. After the loan is settled, the borrower receives the "loan settlement certificate" from the loan bank, retrieves the mortgage registration certificate of real estate ownership and the original insurance policy, and goes through the mortgage registration cancellation formalities with the original mortgage registration department with the "loan settlement certificate" issued by the loan bank.