The general process of housing mortgage application is as follows:
Property buyers who want to get mortgage services should focus on this aspect when choosing real estate. When buyers learn that some projects can apply for mortgage loans in advertisements or through the introduction of sales staff, they should further confirm whether the real estate developed and built by developers has won the support of banks to ensure the smooth acquisition of mortgage loans.
After confirming that the property you choose has bank mortgage support, buyers should know about the bank's regulations on mortgage loan support for buyers, prepare relevant legal documents and fill in the mortgage loan application form.
After receiving the relevant legal documents of mortgage application submitted by the purchaser, the bank will issue a loan consent notice or a mortgage commitment letter to the purchaser after confirming that the purchaser meets the mortgage loan conditions. Property buyers can sign the "Pre-sale Sales Contract of Commercial Housing" with developers or their agents.
After signing the house purchase contract and obtaining the payment voucher, the buyer signs the house mortgage loan contract with the developer and the bank with the relevant legal documents stipulated by the bank, stipulating the rights and obligations such as loan amount, term, interest rate and repayment method.
Property buyers, developers and banks shall go through mortgage registration and filing procedures with the real estate management department on the basis of the housing mortgage loan contract and purchase contract. If the house is delivered in advance, the mortgage registration shall be changed after completion. Under normal circumstances, due to the relatively long term of mortgage loans, banks require buyers to apply for personal and property insurance to prevent loan risks. Property buyers should list the bank as the first beneficiary when purchasing insurance, and the insurance shall not be interrupted during the loan performance, and the insurance amount shall not be less than the total value of the collateral. Before the loan principal and interest are paid off, the insurance policy shall be managed by the bank.
After signing the Housing Mortgage Loan Contract, the purchaser opens a special repayment account in the financial institution designated by the bank according to the contract, and signs a power of attorney to authorize the institution to pay the loan principal and interest and arrears of the bank and mortgage loan contract from this account. The bank is confirming that the buyers meet the mortgage loan conditions and fulfill the obligations stipulated in the Housing Mortgage Loan Contract. After handling the relevant formalities, the loan will be transferred to the bank supervision account opened by the developer in the bank as the purchase money of the purchaser.