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Housing Re-mortgage Loan Credit Line-------Feasible Financing Saving Load Interest
Interest Housing Re-mortgage Loan Credit Line is a business in which the applicant who has already been granted new housing or second-hand mortgage from the bank, after repaying part of the loan, apply for credit line, using the house valued appraised by the bank minus the rest loan as the maximum mortgage. In the alotted term and amount of the credit line, the borrower can apply for loan from the bank for different use as need. When the loan repaid fully, the credit line will be restored.
1. Feature
1) Revolving Loan
2) Multi-function, free to combine
3) Easy process
2. Who is it for?
Housing mortgage loan applicants
3. Credit line, time limit and interest rates:
1.Credit Line= Mortgage House Value appraised by the bank ¡Á mortgage rate¡ª left mortgage loan + expected loan value in the term of the valid credit line.
(1) The house value is the lower one in the original purchase price and the re-mortgage appraised value.
(2) The maximum loan mortgage is no exceeding 70%
(3) Maximum credit line no exceeding 500,000 RMB
2. credit line term£ºThe longest credit line term is no more than 3 years, the specific loan term will be decided by the loan use, loan maturity should not exceed the credit line maturity.
3. The loan rate under the credit line will be fixed according to the loan use, following the relevant regulation prescribed by the People¡¯s Bank of China.
4. What needs to be done?
1. Submit application documents for credit line assessment;
2. Bank verifies the application and approves it;
3. Sign the Re-mortgage Loan Credit Line Contract
4. registrate the credit line for the house mortgage loan;
5. What needs to be done?
1. Submit application documents for credit line assessment;
2. Bank verifies the application and approves;
3. Sign an agreement with the borrower a loan contract;
4. Get the loan;
5. Repay the principle and interests as agreed;
6. Once borrower has repaid the entire loan, the contract expires and loan registration cancelled
6. Documents to be provided by applicant for the credit line:
1. Individual credit line application form
2. Applicant and co-owner¡¯s valid ID cards
3. Individual and family Income statement and asset
4. Original agreement with the borrower a house mortgage loan
5. Other documents required.
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