All About Home Loans You Should Know(3)

Loan Rates

The interest rate on home loans is based on the bank's benchmark interest rate for the same period, and the interest rate on loans from different banks has increased slightly.

Application Conditions

Application conditions for housing loans (provident fund loans):

(1) have valid identification;

(2) Only employees who participate in the housing provident fund system are eligible to apply for housing provident fund loans, and employees who do not participate in the housing provident fund system cannot apply for housing provident fund loans.

(3) Those who participate in the housing provident fund system must apply for housing provident fund personal housing loans must also meet the following conditions: that is, the time before applying for loans to deposit housing provident fund continuously is not less than six months. Because, if the employees pay housing provident fund behavior is not normal, intermittent, indicating that their income is unstable, the issuance of housing loans are prone to risk.

(4) One spouse has applied for a housing provident fund loan, and neither spouse can obtain the housing provident fund loan until the principal and interest of the loan has not been paid. Because, housing provident fund loans are to meet the basic needs of the family housing of workers to provide financial support, is a "housing security type" of financial support.

(5) When applying for a loan for a provident fund, the loan applicant has no other debt spending a large amount that may affect the ability of the housing provident fund loan to repay, except for the ability to have a more stable economic income and the ability to repay the loan. When employees have other debts, and then give housing provident fund loans, the risk is very large, contrary to the principle of safe operation of housing provident fund. That is, when applying for housing provident fund loans, the applicant is generally required not to have a larger loan, such as outstanding housing loans, car loans and so on.

Preparing Information

Loan information to be provided by the borrower

(1) Valid identification

(2) Proof of income or related materials that can prove the borrower's income and repayment ability

Guarantee Process

(Commercial guarantee process for second-hand housing loans)

1, to collect the loan bank required by the buyer and seller of relevant information;

2, to assist the lender (buyer) to sign the bank loan text, the bank for the first instance;

3, to assist the buyer and seller to handle the transaction;

4, the buyer to receive the new title certificate after the original title certificate, the original purchase and sale contract, the original deed tax bill, the original old land certificate to the guarantee company;

5, the buyer's new title certificate issued, the guarantee company loan text and buyer's real estate information sent to the loan bank and provident fund center for approval;

6, after the bank approval, with the housing guarantee company issued by the "guarantee letter" for customers to issue loans;

7, the loan arrived at the home purchase guarantee company account, notify the buyer and seller to sign on the scene, the seller to collect the housing;

8, the housing guarantee company on behalf of the buyer for land certificates and mortgage procedures. The real estate certificate, land certificate to the buyer, the house other warrants to the bank.