Agricultural Bank of China's individual housing loans

Product definition:

Individual housing loans is the bank to grant loans for the purchase of housing loans.

Individual housing loans varieties:

The primary floor, individual housing loans, individual housing loans of second-hand flats, commissioned by the housing provident fund loans, loan portfolio, and by individual housing, refinancing, the reduced loan.

Borrowing target:

With full civil capacity of natural persons, including Chinese citizens, Hong Kong, Macao residents and foreign nationals.

Conditions apply:

Over 18 years of age, with full civil capacity;

A town resident accounts or valid proof of identity to stay;

A stable job and income, good credit, the ability to repay the loan principal and interest;

Shoufang and enter into a legally binding contract or purchase housing agreement, paid no less than 20 percent of the first phase of the purchase;

Can provide an effective way of security;

Bank loans provided for other conditions.

Loan guarantees:

Borrowers apply for individual housing loans must provide guarantees way into the secured mortgage, pledge, mortgage guarantee and increase short-term assurance.

Loan deadline:

Individual housing loans for up to the primary floor, no more than 30 years, individual housing loans for secondary and secondary property has been in use for no more than 30 years.

Loan amount:

The primary floor, individual housing loans does not exceed the maximum limit of 80 per cent of house prices, individual housing loans secondary property prices not exceeding the maximum limit of 70%.

Loan rates:

Lending rates in accordance with the People's Bank of China announced the implementation of the same period in the same grade of interest rates and loans in accordance with the different circumstances of plus or minus, the lowest fall 10 percent. Provident fund entrusted loans and loan portfolio in the commission of the lending interest rate in accordance with the implementation of provident fund loans;

Loans within the period of one year (including 2001), the interest rate on the implementation of the contract, not sub-interest-bearing;

Loans for more than one year, a certain year lending rate, that is, each of January 1 by the People's Bank of the latest interest rate adjustments.

Applicants should provide the information:

The borrower identity card, residence booklet or a valid residence and the original copy of proof;

The borrower should provide employment units issued by the proof of income, or other proof of income tax of the last three months alone;

A total of persons and property ID card, residence booklet, a total of effective consent of property mortgages and disposal of proof;

Original purchase contract;

Purchase invoices (first phase) and a copy of the original;

Individual housing loans application form;

Bank loans to be provided by other information.

Loan programs:

Applicants fill out loan applications and to provide relevant information → banks accepted the investigating → loan review and approval → → signed loan contracts secured for housing insurance, notarization, registration → mortgage loans to repay loans → households dismantling →-encumbered.

Housing for insurance:

Individual housing loans insurance premiums paid by the borrower;

The insured amount not less than the amount of loans, loans insured period of not less than the period, and indicate on insurance policies for the first beneficiaries of bank loans.

Registration for real estate mortgage:

Individual housing loans to the housing land management departments for mortgages registered.

Loan repayment:

Individual housing loans in the period the following year (including 2001), Lee used to this-the repayment;

Loans for more than one year, by way of repayment of outstanding loans monthly principal and interest, the specific choice of matching the repayment of principal and interest, matching the principal repayment, the repayment occur in equal increments, matching reduced repayment, geometric increase repayment Law, the repayment of decreasing geometric.