Legal analysis: At present, the process of handling physical mortgage loan is: first, find the loan product that suits you and submit the loan application to its lending institution. After the application is approved, the auditor will conduct a preliminary review of your personal qualifications by telephone, submit materials according to the specific requirements of the loan products, and sign the loan documents. After that, your loan collateral will be evaluated and approved (this cycle is relatively long, which takes about 3-4 weeks). After the approval, go through the mortgage registration formalities, and everything is completed, so you can wait for the loan.
Legal basis: Article 394 of the Civil Law of People's Republic of China (PRC) guarantees the performance of debts. If the debtor or a third party mortgages the property to the creditor without transferring the possession of the property, the debtor fails to perform the due debt or the creditor has the right to receive priority compensation for the property. The debtor or the third party specified in the preceding paragraph is the mortgagor, the creditor is the mortgagee, and the property that provides guarantee is the mortgaged property.