Today, many young people choose to take out loans to buy houses in order to improve their quality of life. If you take out a loan to buy a house, you need to repay it in accordance with the regulations. In this way, your finances can be relieved and you can To improve the quality of life of your family and provide them with a better living environment, what is the process for buying a house through installment payment? What should you pay attention to when buying a house by installment payment? Let me introduce it to you below.

What is the process of buying a house with installment payment?

Step 1: Apply

The loan applicant and the *** applicant should bring the corresponding loan requirements to the management department where the housing provident fund is deposited to apply for a loan. The borrower fills in the provident fund Loan application approval form.

Step 2: Preliminary review

The acceptance personnel will conduct a preliminary review of the materials according to the loan policy. After entering the information in the table and passing the review, the system will output the contract text and loan IOU.

Step 3: Sign

The loan applicant and *** co-applicant sign the above loan text and bank withholding agreement in the designated places.

Step 4: Apply for insurance

The loan applicant and the other applicant go to the insurance company window to apply for insurance (loan repayment guarantee insurance and property damage insurance) and mortgage procedures.

The fifth step, lending

After the mortgage procedures are completed within the publicized time limit, the affiliated management department will review the receipt and loan materials and entrust the bank to transfer the loan to the bank card. The original ID card must be collected from the authorized bank.

Step 6: Repayment

The borrower deposits the principal and interest payable into the bank card or repays at the window of the bank where the account is opened every month within the time limit stipulated in the bank withholding agreement. , until the loan is paid off in full.

What should you pay attention to when buying a house with installment payment?

1. Do not use the provident fund before applying for a loan

If the borrower withdraws the provident fund balance to pay for the house before applying for a loan, the provident fund balance in the provident fund account will return to zero, so the provident fund The loan limit is zero, which means that you will not be able to apply for a provident fund loan.

2. Do not repay in advance within the first year of the loan

According to relevant regulations, partial early repayment must be made after one year of loan repayment, and the amount returned by the borrower should exceed 6 months repayment amount.

3. If you have difficulty repaying a loan, don’t forget to look for a bank near you

When your ability to repay debts declines or you encounter difficulties during the loan period, you can apply to the bank to extend the loan period. After investigation, the bank will accept the application for extending the loan period if it is found that the loan principal and interest are not in arrears.

4. Don’t forget to inform the tenant when renting a house after a loan

When renting out a mortgaged house during the loan period, the lessee should be notified in writing of the fact that it has been mortgaged.

5. Don’t forget to cancel the mortgage after the loan is repaid

After repaying all the loan principal and interest, bring the bank’s loan settlement certificate and other rights to the real estate as collateral. To prove it, go to the real estate transaction center in the district or county where the property is located to cancel the mortgage.

6. Don’t lose the loan contract and IOU

The loan period can be up to 30 years. Borrowers should keep the contract and IOU properly as they are very important legal documents.