How long does it take for bank housing loan approval? No more than this time

Many people want to buy a house but don’t have enough funds to pay for the full payment, so they can only buy a house with a loan. Buying a house with a loan also requires a process and does not happen overnight. The bank also needs a certain period of time to conduct a comprehensive qualification review and approval of the borrower before it can issue an approval result. How long does it take for bank housing loan approval? No more than this time!

How long does it take for bank housing loan approval?

Normally, the bank loan approval process takes less than 15 days. However, if the national housing policy is affected, the time may be extended to 1 month. The bank will not approve the loan until it passes the bank approval process. The lender signs the loan contract, goes through the mortgage and other procedures, and then waits for the loan.

The time it takes for an individual to apply for a provident fund loan is that it takes 15 working days for loan approval and 10 working days for mortgage; portfolio loans generally take about 15 working days to one month; the approval time for general commercial loans is about It will take about 5-7 working days after the interview and all documents are complete.

To apply for a housing loan from the bank, we (i.e. the lender) need to submit relevant loan application materials to the bank. From the day we receive the bank’s loan application and the matching materials, the bank should give it three weeks Give the borrower a formal reply within 12 days.

If the information we submit is approved, the bank will issue a housing loan to the borrower in accordance with the relevant provisions of the "General Conditions of Loans". It can be seen from this that if our information is complete, the housing loan can receive an approval reply and the housing loan application can be approved within 21 days.

If the bank's regulations change and the loan cannot be obtained, the home buyer should negotiate with the developer to check out. If the negotiation fails and there is no agreement in the contract, the home buyer can prove that he is not at fault and is indeed unable to purchase the house and request the developer. The merchant will return the down payment and deposit.

The above is the sharing of relevant content about "How long does it take for bank housing loan approval", I hope it can help everyone!

I would like to ask how long it takes to get a mortgage loan approval

It usually takes about 30 days.

Different banks have different regulations and approval processes, so the lending speed will also be different. For specific circumstances, the borrower needs to refer to the relevant bank regulations.

Normally, after the borrower meets the relevant loan conditions and the procedures are complete, it usually takes half a month to process. However, because the procedures for applying for a loan, such as a home loan, are more troublesome, and the property needs to be mortgaged. Bank, for this reason, it is normal for it to take a month to process.

Personal income certificate, based on your turnover situation, bank staff will make a phone call to your unit for verification, usually within a week after submitting all the information.

The income certificate will generally be confirmed by the bank within one week of your application. Generally, if you have arranged it well, the bank will not keep asking for it. It is easy to pass, and if you provide other asset certificates Or save some money in this bank.

Extended information

Personal housing portfolio loans refer to loans issued to the same borrower from housing provident fund deposits and credit funds for the purchase of ordinary housing for self-use. It is a personal housing entrusted loan and a portfolio of self-operated loans. In addition, there are housing savings loans and mortgage loans.

Mortgage repayment methods: equal amounts of principal, equal amounts of principal and interest, biweekly payments, etc.;

Loan amount: After passing the bank's review, you can loan 80% of the property value.

Mortgage down payment: A mortgage loan for a first home requires a down payment of 30%, and a mortgage loan for a second home requires a down payment of 50%.

Loan period: The loan period for first-hand houses is 30 years, and that for second-hand houses is 20 years. At the same time, the loan period plus the age of the applicant must not exceed 70 years old.

Loan interest rate: The benchmark interest rate for first-home loans with a term of more than 5 years is 6.55%, and the interest rate for second-home loans is 1.1 times higher than the benchmark interest rate, or 7.26%.