Can I still get a second mortgage if the house has been mortgaged once with the bank?

Can I still get a second mortgage if the house has already been mortgaged with the bank once?

Suppose a property has been mortgaged by a bank and is still being repaid normally. In this case, if the homeowner applies for a mortgage again, he does not have to pay off the bank loan in advance, as long as it can pass a professional appraisal. You can remortgage based on the appraised value.

Documents required for applying for a second mortgage loan:

The applicant’s real estate certificate (real estate certificate or house ownership certificate, land use right certificate or house purchase contract and invoice), identity document ( Resident ID card, military officer ID card, etc.).

Extended information:

Second mortgage loan conditions:

1. The house used for the second mortgage loan should be a high-quality house with great market development potential. and commercial premises.

2. The house used for the second mortgage loan of a personal house must be an existing house.

3. The house is a first-hand house purchased with a mortgage loan from the Bank of China.

4. The house mortgage registration has been completed, and our bank is the mortgagee of the house.

5. The house has been insured, and the original insurance policy is in the custody of Bank of China.

6. The house is in a superior location, with convenient transportation and complete supporting facilities, and has great potential for appreciation.