The characteristics of house decoration loan 1 to ease the pressure on decoration funds;
2. Simple procedures and convenient handling;
3. The loan term is long and the repayment method is flexible.
The guarantee method can be credit, mortgage, pledge or guarantee.
Applicable object: 1, a natural person with full civil capacity;
2. It has a legal and valid identity certificate and a stable residence in the city where the loan handling bank is located;
3. Have a stable occupation and income source, and have the ability to repay the loan principal and interest in full;
4. Have a good credit record and willingness to repay;
5. The house to be renovated is a self-occupied house;
6. Open a personal settlement account in the bank.
Housing renovation loan 1 How to apply for housing renovation loan conditions, with local permanent residence or valid residence status.
2. If the newly purchased house needs to be renovated, provide information such as house sales contract and purchase invoice (or if the original house needs to be renovated again, provide materials such as house ownership certificate).
3 have a stable occupation and income, good credit, and the ability to repay the principal and interest of the loan on time.
4. The borrower can provide relevant asset certificates, bank statements, tax bill certificates, etc.
What information do you need for housing renovation loans? 1, ID card and household registration book (photocopy) of the applicant, spouse and repayment participant.
2. Housing ownership certificate or housing use certificate with the borrower's name.
3 proof of income of the applicant and the repayment participant.
4, housing renovation project construction contract.
5. If it is a mortgage loan, it is required to have the property right certificate of the mortgaged property, the list of pledged property, the certificate that the person who has the right to dispose of it agrees to mortgage or pledge, and the appraisal report of the mortgaged property.
6. The Guarantor agrees to provide written guarantee documents and credit certificate of the Guarantor.
Housing renovation loan process 1. When applying for a loan from a bank, the loan applicant must fill in the Application Form for Personal Housing Decoration Loan and submit relevant certificates and materials to the bank.
2. After examining the authenticity, legality and credit degree of the borrower's relevant documents and materials, the bank promises to lend. On this basis, the loan applicant signs a decoration project contract or a decoration product order contract with the decoration company, and submits the original contract to the bank.
3. The borrower and the borrower sign the Loan Contract for Personal Housing Decoration and the corresponding guarantee contract. The borrower who takes the house as mortgage shall go through the formalities of notarization of individual housing mortgage contract, mortgage housing insurance and real estate mortgage registration.
4. Before going through the loan formalities, the bank shall go through the loan guarantee formalities or keep the certificate of other rights of real estate.
5. After the loan contract is signed and notarized, the bank's deposits and loans to the borrower are transferred to the selling unit or building unit specified in the purchase contract or agreement.
Housing renovation loan interest rate The loan interest rate shall be implemented according to the loan interest rate of the same grade in the same period stipulated by the People's Bank of China. Generally, there is no interest rate discount. The interest rates introduced in this article are for reference only. The renovation loan interest rate is about 5.58% for half a year, 5.85% for one year, 5.94% for two to three years and 6.03% for four to five years. If the loan term exceeds five years, the required interest is about 6. 15%. The interest rate of decoration loan is different for everyone, depending on the situation, and it is related to the credit information and qualification of the lender. The interest rate of the first suite renovation loan will rise by 30%, and the second suite will rise by 1. 1 times.
Housing renovation loan amount Credit renovation loan amount is generally 5 to 8 times of the applicant's monthly income. Because there is no mortgage guarantee, there is a high demand for credit information. In addition, the specific quota is related to the applicant's work unit, industry background and monthly income, and the quota of each applicant is not exactly the same. The maximum amount of mortgage decoration loan is 70% of the assessed price of collateral. If secured by pledge, the maximum loan shall not exceed 90% of the value of the pledge right certificate.
Housing renovation loans can be loaned for several years. The loan period of decoration loans is generally five years. Of course, the loan term of different institutions is different. The specific situation is still to consult the bank of the loan.
How to repay the principal of the house decoration loan in equal amount?
With the repayment of equal principal, the borrower's burden gradually decreases with the increase of repayment period. This repayment method distributes the principal to each month and pays off the interest between the last repayment date and the current repayment date.
Under the same conditions, the total interest paid by this repayment method is less than the equal principal and interest, and the repayment burden will be gradually reduced with the passage of time. However, because the interest is decreasing, the monthly payment in previous years will be higher than the equal principal and interest, which is very stressful, so this repayment method is more suitable for people with high income and low repayment pressure.
Waiting amount for debt service
Matching the principal and interest is to add up the total principal and interest of the mortgage loan and then share it equally every month during the repayment period. As a repayment, he pays a fixed amount to the bank every month, but the proportion of principal in the monthly repayment increases month by month, and the proportion of interest decreases month by month. It can be seen that families with stable income and economic conditions do not allow excessive investment in the early stage can choose this method.