The most complete housing loan procedures and processes ever – Financial & Insurance News

The most complete housing loan procedures and processes ever

Purchasing a residence in 2020? Below’s that you’re up versus

A, the basic conditions of commercial housing mortgage loans

1, the borrower has a stable occupation and income, good credit, the ability to repay the loan principal and interest

2, the housing purchased is located in towns (including urban areas, counties, large market towns) and in principle, the borrower’s current place of residence or work, business

3, has signed a contract of sale and purchase of commercial properties with the developer, according to personal credit, and has paid the down payment ratio set by the bank, the minimum is 30% or more

4、The loan amount is determined according to the borrower’s credit situation, occupation, education level, repayment ability, and the ability to realize the purchased housing

5、Agree to register the mortgage of the pre-purchased commercial property first, and promise to use the purchased housing as mortgage and re-register the mortgage after the completion of the purchased housing and obtaining the title certificate.

Second, the housing loan must provide information

1, the applicant and spouse’s ID card, the original household register and three copies (such as the applicant and spouse do not belong to the same household register need to attach a certificate of marital relationship)

2、The contract of sale and purchase of commercial housing signed between the purchaser and the company

3, 30% or more of the price of the original receipt of advance payment and a copy of each

4、Proof of income of the home buyer (provided by the bank and placed in the sales office)

5. If the borrower is a legal person, he/she should bring the valid Business License of Enterprise Legal Person or Business Legal Person License, Certificate of Identity of Legal Representative, financial statement and loan card. If it is a joint-stock enterprise, you also need to provide the company when with the technical charter, the board of directors agreed to mortgage certificate

6, the developer’s collection account number 1

Third, the notes in the mortgage business

1, the loan term is generally within thirty years, and the loan maturity date in principle can not exceed the age of the borrower (male) 65 years old, (female) 55 years old

2, the loan interest rate to implement the provisions of the People’s Bank of China. In case of legal interest rate adjustment, the term of 1 year or less, the implementation of the contract interest rate, not segmented interest; the term of 1 year or more, the new interest rate will be implemented at the beginning of the next year

3, the main mortgage repayment method is divided into two kinds of equal principal and equal interest, the buyer is free to choose. Equal principal for the monthly repayment of principal and interest, first more and then less; equal principal for the monthly repayment of principal and interest, the monthly repayment amount remains unchanged (interest rate adjustment changes)

Fourth, the specific process of housing mortgage loans

1, the developer to the lending bank mortgage loan cooperation intention

2, the lending bank to the developer’s development projects, construction qualifications, credit rating, the character of the person in charge, corporate social goodwill, technical strength, business conditions, financial situation, and eligible developers to sign a mortgage loan cooperation agreement

3, the purchaser and the developer signed a “commodity house sales contract”, and according to the contract requirements, pay the required down payment for the house

4, within seven days from the date of payment of the down payment, the purchaser provides information that meets the requirements of the mortgage bank, directly to the developer’s cooperative bank to apply for a mortgage loan. Specifically, including: “contract for the sale and purchase of commercial properties” (registration for the record), receipt for the down payment, ID card, proof of marriage, proof of income and other information that the bank considers necessary to provide

5, the lending bank to investigate and review all aspects of the home buyer and procedures, and meet the basic conditions of the home buyer (including the home buyer’s spouse) for preliminary procedures, including specifically the loan application, joint repayment statement, commitment, conversation transcript, loan contract, IOUs, etc.; then the home buyer in the lending bank to open a deposit account or bank card, the bank reported to a higher bank for approval

6. The application approval period is generally within 7 days. For more than this period, the marketing department timely dock with the bank, understand the situation, solve the problem, and actively assist the homebuyer to complete the loan and sign the stage guarantee procedures with the mortgage bank in a timely manner

7, the handling of problem customers.

(1) the home buyers who are applying for the stage, for their own reasons to apply for the cancellation of mortgage loans, within 20 days from the date of cancellation, the purchaser shall pay the balance in accordance with the lump sum payment.

(2) When the total amount of the mortgage is not reached due to the final approval of the bank, the purchaser shall make up the balance within 10 days from the date of the bank’s approval.

(3) The seller will not return the property if the bank mortgage loan is not approved due to the homebuyer’s own reasons in various aspects such as credit, identity and repayment ability. According to the actual situation, the preferred adjustment of the loan bank to apply for another, still not approved, upon application by the home buyer, can change the home buyer, the contract purchaser changes to the home buyer has family, relatives related to the person, the marketing department shall promptly apply for the cancellation of the commodity house sales contract, another contract. If the purchaser does not change the contract, he or she shall pay for the house within 30 days in accordance with the lump sum payment from the date the bank mortgage loan is not approved, and the default shall be executed in accordance with the relevant provisions of the contract.

(4) for a long delay in the lending bank to apply for a mortgage loan customers, sales staff should establish a supervisory mechanism, and will be registered in the telephone notification records, three consecutive (within 15 days) notice is still not processed, shall be charged in accordance with the provisions of the contract default fees.

8、After the loan bank approves the borrowing of the home buyer, the company issues a receipt and invoice to the home buyer with the incoming bill

9, the borrower later as long as the monthly (quarterly) 20 days before the deposit account or bank card to leave sufficient amount of each repayment due, the lending bank will automatically deduct from the borrower’s account, due in full settlement

10、After the loan is returned, the lending bank will cancel the collateral and return it to the customer