Because real estate mortgage loans have many restrictions, complicated knowledge points, many and long processing procedures, and many practical plans derived from the advance business, it has always been valued by senior loan practitioners, and is even considered the most core loan knowledge.
Many loan assistance companies regard real estate mortgage loan knowledge as the most important part of the onboarding training for new employees, so the importance of real estate mortgage loan knowledge is evident.
I have written a lot about real estate mortgage loans before, and I have a different experience every time I rewrite it, which can be regarded as learning together with everyone.
Below I will introduce the relevant knowledge in detail from the application conditions and processing procedures of real estate mortgage loans.
In order to let more borrower friends understand, I try to explain it in popular and non-industry terms. If you are a loan colleague, please don’t find it verbose.
Overview of real estate mortgage loans
Real estate mortgage loans, as the name suggests, are loan products applied for with the borrower's or his relatives and friends' real estate as collateral
Because it is a mortgage loan, it is different from credit loans. When applying for a real estate mortgage loan, we must pay attention to three elements: The borrower's own loan qualifications and properties of the mortgaged property , and the risk control conditions of the target loan products. Only in this way can we screen out the best loan plan more accurately and quickly.
In other words, loan applicants must not only have their own loan qualifications meet the risk control conditions of the target loan product, but the property under their name must also meet the requirements.
To put it more straightforwardly and simply, not only must the loan applicant meet the loan qualifications, he must also be able to obtain real estate that can be mortgaged to the lending institution.
In order to facilitate everyone to have a more thorough understanding of real estate mortgage loans, I will classify and explain real estate mortgage loans from different dimensions.
A. According to the different lending entities or loan purposes, they are divided into: real estate mortgage consumer loans and real estate mortgage business loans.
1. For real estate mortgage consumer loans, the borrower is an individual. The mortgaged property can be owned by yourself or a relative or friend. The restricted loan uses are: decoration, buying a car, going abroad, traveling, studying abroad, and other durable goods consumption, etc. Due to restrictions on the use of loans, most banks have a limit of less than 1 million yuan for this type of loan.
2. The borrower of a real estate mortgage operating loan is an enterprise. The real estate is owned by the enterprise, the corporate legal person or the shareholder, or the corporate legal person or the shareholder's relatives and friends. The main purpose of the loan is business operation. Common bank real estate mortgage business loan products have a single limit of 10 million yuan, and some banks can reach a single limit of 30 million yuan.
With the implementation of restrictive policies, most banks have stopped approving real estate mortgage consumer loans of more than 1 million yuan.
Because the market value of a large number of houses in first- and second-tier cities far exceeds 1 million yuan, while the market value of houses in third- and fourth-tier and lower-tier cities is mostly around 1 million yuan. Therefore, in actual loan operations, most first- and second-tier cities mainly use real estate mortgage business loans, and most third- and fourth-tier cities or below mainly use real estate mortgage consumer loans.
B. Depending on the properties of the mortgaged property, the common classifications are: residential mortgage loans and commercial property mortgage loans.
The so-called residences in residential mortgages are our common commercial houses with residential attributes, such as ordinary houses, villas, 70-year apartments, etc.;
The commercial properties in commercial real estate mortgages are relatively broad, and common ones include factories, warehouses, low-rise shops, office buildings, commercial and residential apartments, hotels, etc.
Generally, the mortgage rate of ordinary residential buildings is above 70%, and the mortgage rate of some special businesses can even reach 100%. The mortgage rate of
villas is slightly lower. The mortgage rate of common real estate mortgage loans on the market is generally around 60%, and the mortgage rate of slightly higher ones is about 80%.
The mortgage rate for commercial properties is even lower.
For example, the mortgage rate of factories and warehouses is generally only 40% to 50%, or even lower.
Commercial and residential apartments, office buildings and hotels are generally 40% to 50%. The highest business I have seen is only 55%, but the interest rate is much higher than that of banks.
After discussing the classification of real estate mortgage loans, everyone should have a rough understanding of real estate mortgage loans.
Below, we will provide a deeper interpretation of the process of real estate mortgage loans. For convenience, we will explain it from the perspective of the loan applicant, and the loan practitioner can be directly replaced by the customer.
Note: In order to standardize the expression, all "lending institutions" in this article include banks and small loan companies, but some loan practitioners refer specifically to small loan companies in a narrow sense. Please pay attention to the distinction to prevent misunderstandings.
Real estate mortgage loan application process and detailed interpretation
The first step is to confirm before lending
Whether you are applying for a real estate mortgage consumer loan or a real estate mortgage business loan, you must confirm the following questions in advance.
- Does your age meet the requirements?
- Does your credit report meet the requirements?
- Do you have enough ability to repay the loan?
- Can you provide mortgageable properties that meet the conditions?
- What is your target loan amount?
- What is the loan interest rate range you can accept?
- How long do you want to apply for a loan?
- What is the repayment method acceptable to you?
- Do your spouse and other property owners agree?
If you have clear and positive answers to these questions, you can prepare loan materials in advance.
If you have a bad credit record, such as overdue loans or a large number of small loans or online loans, you should pay off whatever you can. Even if you go to a financial institution to advance funds, you must deal with them in advance to avoid being directly rejected by the lending institution.
The second step is to prepare loan materials
Generally speaking, real estate mortgage consumer loans only require the provision of personal materials, while real estate mortgage business loans require the loan applicant to provide personal materials and related corporate materials.
Personal materials:
ID cards of both parties, household register, marriage certificate/ divorce certificate/single certificate, income certificate, half-year bank statements, property rights certificate (real estate certificate, land use certificate).
Note:
If the mortgage and loan are different, even if you apply for a mortgage loan using the property of a relative or friend, you still need to provide relevant documents and materials of the property owner and his wife.
Corporate materials :
Original and duplicate business license, tax registration certificate, account opening license , company profile, legal person And shareholder ID cards and resumes, company articles of association (including articles of association, articles of association amendments, shareholder resolutions), capital verification report , financial statements (the previous two years + this year to this month), bank statements (more than half a year), tax payment certificate (last three months), upstream and downstream purchase and sale contracts, etc.
Note:
If there is no associated company in your name, you need to register or transfer the company shell in advance. However, because each lending institution has different regulations on the time for the loan applicant to hold or associate the company, sufficient time must be reserved.
The third step is to determine the loan plan
The so-called determining the loan plan is to select the target lending institution.
Generally speaking, banks are characterized by low interest rates, long loan periods, strict audits, and slightly slower loan disbursements, usually 15-30 working days; small loan companies are characterized by slightly higher interest rates, short loan periods, and relaxed audits, but fast loan disbursements, usually within 1-7 working days.
However, there are also differences between banks. For example, some banks value high-quality collateral more, while some banks are more optimistic about the borrower's own qualifications. Similarly, small loan companies also have this problem.
If we want to screen out the most suitable loan plan, we must conduct a multi-dimensional comparison based on our own loan qualifications and the restrictions of the loan products.
After spending a certain amount of energy, whether by ourselves or through a loan intermediary, if we successfully match a suitable loan plan, then we can proceed to the next step.
The fourth step is to submit information to the lending institution.
This step is relatively simple. Just confirm the chosen lending institution and directly submit the materials prepared before.
Then just wait for the loan institution’s preliminary review. After passing the preliminary review, you will be notified to proceed to the next step.
Note:
Remember, you must not talk nonsense when facing the bank account manager. No matter what your real loan purpose is, just follow the purposes mentioned above.
Don't be too sincere at this time. Don't leave all the real purposes of buying a house, stock trading, investment, etc. to the lending institution.
The fifth step, household verification and property evaluation
The loan institution will conduct door-to-door verification based on the property address and business address provided by the loan applicant. It mainly verifies the authenticity of the real estate certificate information and business operating conditions, and evaluates the value of the house. Some banks need to entrust an evaluation company to come to take photos and give an evaluation value.
Note:
If the appraised value of the property is lower than the loan applicant expected, you can directly reject the current lending institution and choose another lending institution.
If you go through a loan intermediary or loan assistance institution, the transferred company shell actually has a certain amount of room for manipulation.
Stop here, don’t write too explicit, otherwise problems may arise.
The sixth step is to sign the loan contract (interview)
If the loan institution determines that the loan applicant's conditions are basically met after the risk control review and passes the final approval, the loan applicant will be notified to sign the "Loan Contract" at the designated outlet.
The loan institution and the loan applicant agree on details such as loan type, loan amount, interest rate , loan purpose, repayment method, loan period, rights and obligations of both borrowers and lenders, liability for breach of contract, dispute settlement and other details in the "Loan Contract".
Note:
Although the loan application can still be terminated at this time, the number of institutional inquiries on the credit report has increased.
The seventh step is to go through the mortgage registration
After completing the signing of the "Loan Contract", the lending institution will agree with the loan applicant on a date to go to the real estate registration center (housing management office) to handle the mortgage registration procedures.
At this time, the loan applicant needs to prepare the original ID card and real estate certificate of the property owner.
After the mortgage registration is completed, the loan applicant directly hands over his certificate of rights to the lending institution, and then waits for the lending institution to issue the loan.
The eighth step is to wait for the loan
After the above process is completed, the lending institution will lend money according to the account number specified in the loan purpose contract provided by the loan applicant.
If it is a business loan, the loan applicant can go through the withdrawal procedures according to the loan contract, and one or more withdrawals are planned according to the contract.
When loan applicants withdraw money, they generally need to fill in the withdrawal voucher uniformly formulated by the lending institution, and then go to the lending institution to complete the withdrawal procedures.
The lending institution starts calculating interest from the date the loan is withdrawn.
This is the dividing line
The above are the regular steps for a general real estate mortgage loan. Below I will add the restrictions on the common real estate mortgage loans on the market so that readers can estimate the success rate of applying for a real estate mortgage loan.
Real estate mortgage consumer loan application conditions:
- The borrower is 22-60 years old, and the mortgagor is 22-60 years old;
- is stable in the local area Have a job, have the ability to repay the principal and interest of the loan, the personal debt ratio is less than 70%, and the personal or couple's turnover is at least 1 times the monthly loan payment;
- can provide bank-approved mortgage properties (owned by yourself or relatives and friends), the property type is commercial housing, and the property rights are clear;
- The credit report of the borrower and the real estate mortgagor meets the bank's requirements, there is no current overdue record, and there can be no serious overdue situations such as "three in a row and six" within two years;
- The loan period is not more than 10 years, equal principal and interest or interest first and then principal Repayment;
Basic application conditions for real estate mortgage business loans:
- The borrower is 22-65 years old, and the mortgagor is 22-65 years old, usually no more than 70 years old;
- has the ability to repay the principal and interest of the loan. The debt ratio of the individual and the enterprise is less than 70%, and the turnover of the individual and the enterprise is at least 2 times the monthly loan payment;
- The enterprise has been registered for more than 1 year, and new changes require more than 6 months;
- can provide mortgage properties approved by banks. The property type is commercial housing, the age of the property is no more than 40 years (most banks require the age of the property no more than 25 years), and the property rights are clear;
- The borrower, property mortgagor and corporate credit report meet the bank's requirements, and there is no current overdue record. There must be no serious overdue situations such as "three in a row and six in a row" within the year;
- The loan period shall not exceed 30 years. Common repayment methods include: equal principal and interest, interest first and principal later, monthly interest and annual principal, etc.;
Content supplement
The above content is only a summary of the basic knowledge of real estate mortgage loans. Different lending institutions have slightly different requirements for borrowers, such as age of the house, age of the borrower and mortgagor, institutional inquiry records in the credit record, etc. Therefore, do not apply the above loan conditions to direct applications.
If you are a new loan practitioner, it is best to practice it two or three times with the company's elders, otherwise it will be difficult to memorize it by rote and gain a deep understanding.
If you are a borrower, you can refer to this article to prepare in advance. At least you will have a clear understanding of the general process and will not panic.
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