Can the house being repaid be mortgaged? According to normal requirements and procedures, it is theoretically impossible to apply for a mortgage loan for a mortgaged property. Moreover, according to the current regulations of various banks, many individuals will not accept the second mortgage business. The borrower can only apply for a mortgage loan after the loan is fully paid off, so it is impossible to realize the loan according to this conventional process.
However, there are some methods. For mortgaged houses, there are two common ways to deal with mortgage loans at present, one is secondary mortgage, and the other is guarantee advance business. As long as the mortgaged property meets certain conditions, you can apply for a second mortgage; If the funds are urgent, you can also find a loan company to advance the funds.
Can a house with a mortgage get a mortgage?
Mode 1: Secondary mortgage
If the lender has a house that is being repaid, and it has been repaid for some time, you can apply for a loan in the same bank. This kind of loan is what we often call "secondary mortgage". Take Chengdu Rural Commercial Bank as an example. If the borrower has applied for a mortgage loan in the bank and has paid off the loan for a period of time, he can apply for a second mortgage in the bank if the property has surplus value, and the mortgage rate can reach up to 90%.
Method 2: find a guarantee company to pay in advance.
If there is a house under the lender's name that is repaying the mortgage, but it is in urgent need of a large amount of capital turnover, you can find a formal guarantee company to pay in advance, pay off the existing loan, then cancel the mortgage, take the real estate as the loan collateral, pay off the advance payment of the guarantee company after obtaining the loan, and use the remaining funds for yourself.
The above is an introduction about how to mortgage the house that is still paying the mortgage, but it should be noted that the guarantee company needs to charge a certain fee in the second way, and the charging standard of each lending institution is different, so the borrower may wish to shop around and then choose a loan product with relatively high cost performance.