What is a mortgage loan?

Mortgage loan is a personal housing loan business in which buyers use the purchased houses as collateral and real estate enterprises provide phased guarantees.

Mortgage is the transliteration of English "mortgage", which refers to the act that the mortgagor transfers the property right of the property to the mortgage beneficiary (usually refers to the bank that provides the loan), and the mortgage beneficiary immediately transfers the property right involved to the mortgagor after the mortgagor pays off the loan.

Housing mortgage loan is a kind of housing guarantee loan, which refers to the personal housing mortgage loan provided by real estate development enterprises with the purchased house as collateral during the illness period. The popular meaning of "mortgage" refers to the mortgage of loans with pre-purchased commercial housing. It means that the mortgagor transfers the pre-purchased property rights to the mortgage beneficiary (bank) as a repayment guarantee, and after repayment, the mortgage beneficiary transfers the property rights to the mortgagor. Specifically, mortgage loan refers to the loan that the buyer obtains from the bank with the pre-purchased building as collateral, and the buyer pays the bank in installments according to the repayment method and time limit agreed in the mortgage contract; Banks charge interest at a certain rate. If the lender defaults, the bank has the right to take away the house.

People are most concerned about the conditions and procedures of mortgage loans. First of all, the information needed to apply for a mortgage loan is:

1.3. Original and photocopy of the ID card and household registration book of the applicant and spouse (if the applicant and spouse are not registered in the same household, a marriage certificate shall be attached).

2. The original purchase agreement.

3. 1 Original and photocopy of advance payment receipt for 30% or more of the house price.

4. Proof of the applicant's family income and related assets, including payroll, personal income tax bill, income certificate issued by the unit, bank deposit certificate, etc.

5. The developer's collection account number is 1 copy.

The loan procedures and formalities are:

First of all, please go to the bank to understand the relevant situation. And apply for personal housing loans with all relevant materials.

Then accept the bank's review of you and determine the loan amount.

Next, you can apply for a loan contract and the bank will apply for insurance. Handle the registration and notarization of property right mortgage.

The last thing left is the cancellation of registration after the bank issues loans, the borrower repays on a monthly basis and pays off the principal and interest.

After the above procedures and formalities, you can get a new house through mortgage.

Through what the reporter said above, you should have a deeper understanding of mortgage and understand the related matters of handling loans. I hope that the key of mortgage can open more doors to new houses that belong to you, me and him.