What are the conditions and procedures for handling ICBC mortgage?

1. Conditions required for ICBC to make a house purchase loan:

1. Having a permanent residence in the town or a valid residence status;

2. Have a stable occupation and income, good credit, and the ability to repay the loan principal and interest on schedule;

3. Self-raised funds accounting for more than 3% of the total price of the purchased house are guaranteed to be used for the down payment of the purchased house;

4. Assets recognized by the bank are used as collateral or pledge, or units or individuals with sufficient compensatory capacity are used as guarantors to repay the loan principal and interest and bear joint and several liabilities;

5. There is a purchase contract or agreement, and the price of the purchased house basically conforms to the appraisal value of the bank or the real estate appraisal agency entrusted by the bank.

2. Procedures to be prepared for handling mortgage in ICBC:?

1. Have legal and valid identification; ?

2. Stable income, good credit, and the ability to repay the loan principal and interest on schedule;

3. A house purchase contract in compliance with relevant regulations has been signed;

4. There is a legal and effective guarantee recognized by the lender; ?

5. Have the ability of down payment.

6. Other conditions stipulated by the lender.

Extended information:

1. The longest loan period of new house loans shall not exceed 3 years, and that of second-hand houses shall not exceed 2 years; The loan amount is 7% of the appraised value of the house; The loan interest rate is implemented according to the loan interest rate of the same grade in the same period stipulated by the People's Bank of China, and the benchmark annual interest rate is 5.94%.

2. Housing mortgage loan conditions:

(1) The term of the house is within 2 years;

(2) Banks have different requirements on the area of houses;

(3) The house should have strong liquidity;

(4) Commercial houses, apartments, shops and office buildings are generally required.

Generally, real estate mortgage loans need to be handled by professional real estate guarantee companies. Real estate mortgage loans have become an important means of personal real estate financing for residents. Loans are made through mortgage loans to meet temporary consumption needs or even business needs, in order to revitalize the real estate held by residents, and among various financing channels, real estate mortgage loans are still one of the lowest cost ways.

according to the data provided by Anjia World Bank Guarantee Co., Ltd., the first wholly foreign-owned real estate guarantee company in China, nearly 3% of the real estate mortgage loans are used to buy houses again, and other uses account for a relatively high proportion: business use, car purchase, study abroad and immigration, decoration and purchase of bulk consumer goods.

Reference: China Industrial and Commercial Bank Loan-Baidu Encyclopedia.