Sihai network

How long does housing loan approval take? Detailed explanation of individual housing purchase proces

How long does housing loan approval take? Detailed explanation of individual housing purchase process

It's not easy to buy a house. I believe many people don't know the conditions and procedures for purchasing a house. Now most of my friends buy houses through loans. But the procedure of buying a house with a loan is not so simple. Do you know how long it will take for mortgage approval? Now let's make up a small to give you a specific introduction.

How long does mortgage approval take?

Different banks, different time periods, approval time is also different.

For example, the approval time of ICBC's housing loan is generally 2-3 weeks, and it is possible to take 2-3 months when it is slow.

1、 Bank lending related audit link

1. Review of property value

The first thing that needs to pass the loan examination is the value of the real estate itself. According to the changes in the market, the real estate in different locations, environments and lots in the city determines whether it has the loan qualification.

The type and age of the real estate are the factors to evaluate the real estate, and the value of the real estate is not determined by the transaction price of the buyer and the seller, but needs to be evaluated by a professional evaluation company.

2. Review the borrower's ability

Secondly, for the loan applicants themselves, the income source, family status, social background, credit records and so on are all the goals that banks need to audit.

3. Second hand housing need guarantee company guarantee

If it is a second-hand housing transaction, the participation of guarantee companies is even more necessary, and the qualified formal professional guarantee companies will bring more guarantee for the buyer's loan success.

What are the conditions and procedures for individual housing purchase?

Purchase conditions:

Chinese citizens with permanent residence in China, permanent residence in local cities and towns, and full capacity for civil conduct; good occupation with proper and stable economic income, and the ability to repay the principal and interest of stock speculation on schedule; law-abiding, no illegal behavior and bad credit record; no bad record in the national credit record; other conditions stipulated by the bank.

Procedure:

1. Signing the subscription form: the client signs the subscription form with the real estate development company that has signed the contract with the bank, and pays the down payment to the real estate development company; handling the application: the client goes to the law firm entrusted by the bank to handle the mortgage application procedures, including submitting personal data, paying various fees, and filling in legal documents;

3. Payment review: the law firm conducts the preliminary examination on the client's application, and then the bank conducts the examination and approval; if the examination is unqualified, the client's information and fees will be returned;

4. Other legal procedures: law firms handle insurance, notarization and mortgage registration and filing of collateral on their behalf;

5. Issuance of stock speculation: the bank will transfer the money to the developer's account and inform the client to start the mortgage.

Housing loan is a common thing, but the application for housing loan must be made clear in advance, so as to make housing purchase more smoothly. How long does mortgage approval take? Mortgage approval time is relatively fast, generally not more than a week, depending on the choice of banks. If you have the idea of buying a house, you must have a clear understanding of the conditions and procedures for purchasing a house. In this way, you can avoid many misunderstandings.