How long can I get a mortgage? It can be said that when you apply for a mortgage loan to buy a house, the loan will be released in a few days, and the loan will be released in a year. The specific average amount depends on your loan type (pure commercial loan or portfolio loan) and the application time (the heat of the housing market). Let's take a look at the specific process and steps of the mortgage purchase.
Overall process of bank housing loan approval
1. The handling organization shall write and submit the report for review
Generally, we do not enter into the approval process immediately after we go to the bank to handle the mortgage application submission materials. In addition to sorting out the materials you provide, the bank's customer manager also needs to query and print other auxiliary materials (such as the information system query of the dishonest executor, personal detailed credit report, personal risk rating sheet, etc.), and then write a report for review and submit it to the reviewer Recheck - signature of the person in charge of the business organization - Branch credit review department.
The process is fast for several days, slow for half a month or even a month. The key depends on the business volume of the institution. For example, the real estate market is hot at present, the number of applicants is large, and the bank's customer managers are insufficient, so they can only queue up and handle one by one.
2. Reviewed by credit review department
After receiving the materials submitted by the institution, the credit review department will review them in accordance with the relevant regulations of the bank. If there is any doubt or missing, let the operating institution supplement the materials. If the materials do not meet the admittance requirements, return them to the operating institution (generally not, when the institution submits them, it will review them first). After the review is complete, the reviewers will issue review opinions and submit them to the review department Reviewed by the person in charge.
The fastest day of this process (I personally experienced it, I arrived in the morning and left in the afternoon) and the slowest nearly two months (mainly wasting time waiting in line for review and supplementary information).
3. Approval
After the person in charge of the credit review department is verified to be correct, it will be submitted to the leader in charge of the branch for approval, and the normal leader will pass it directly after seeing it, and rarely reject it, which is generally within three days.
4, lending
After being approved by the leader in charge, the review department can issue a notice of approval opinions and hand the materials to the operating agency together. At this time, the customer manager can take the relevant materials to the lending center to apply for lending. The speed of lending depends on two factors:
(1) . whether there is Provident Fund:
For pure commercial loans, the bank's approval is over, and loans can be made immediately if there is a quota, so commercial loans are relatively fast; however, if it is a combination loan, the time is relatively slow because it has to wait for the quota of the provident fund center.
(2) . real estate market
Once the real estate market is hot, and the number of people applying for housing loans increases dramatically, the bank's credit line will be insufficient. At this time, we can only wait in line for the line. How long does it take? There is no final conclusion. The longest one has seen waiting for a whole year.
PS: Why are banks short of quota? When banks absorb deposits, they should first pay 17% of reserves to the central bank, and reserve about 15% of the remaining funds for daily operation. The actual loanable funds are only about 70% (i.e. to absorb 100 yuan of deposits, only 70 yuan can be used for lending). Banks are the industry of operational risk, with strict risk control. Banks are set up for all walks of life Industry quota is not to say that all funds will be put into one industry. Therefore, only 20 yuan of 70 yuan may be used for housing loan. Therefore, when there are many applicants, the quota will be insufficient, and at this time, they can only queue up.