What are the precautions and required information for buying a house in installments?

If the buyer chooses to pay in installments when the funds are not sufficient, what are the things that need to be paid attention to in installment? How should we avoid situations that are unfavorable to us in the process? Let's take a look.

Precautions for buying a house in installments

1. Do not use your provident fund before applying for a loan. If the borrower withdraws the CPF balance to pay for the house before taking out the loan, the CPF balance in your CPF account will be zero, so your CPF loan amount will be zero, which means you will not be able to apply for a CPF loan.

2. Do not make early repayment within the first year of borrowing. According to the relevant regulations of CPF loans, partial early repayment should be made after one year of repayment, and the amount you repay should exceed the repayment amount of 6 months.

3. If you have difficulty repaying the loan, you can ask the bank around you for help. When your ability to repay your debts decreases during the term of the loan and you have difficulty repaying the loan, don't push yourself on. ICBC customers can apply to ICBC for an extension of the loan term, and if the bank investigates and finds that the loan principal and interest are not in arrears, ICBC will accept your application for extension of the loan term.

Fourth, do not forget the obligation to inform if you rent out your house after taking out a loan. When you rent out a mortgaged property for the duration of the loan, you must inform the tenant in writing of the fact that the mortgage has been mortgaged.

5. Remember to revoke the mortgage after the loan is paid off. After you have paid off all the principal and interest of the loan, you can go to the real estate transaction center in the district or county where the property is located to revoke the mortgage with the loan settlement certificate from the bank and the certificate of other real estate rights of the mortgage.

6. The loan contract and IOU cannot be lost. When applying for a mortgage loan, the loan contract and IOU signed by the bank with you are important legal documents. Since the loan term can be up to 30 years, as a borrower, you should keep your contracts and IOUs safe.

Documents to be provided by the applicant

1. The resident ID card and household registration book of the lender and his or her spouse, if the husband and wife are not in the same household registration, they need to provide a marriage certificate.

2. Legally valid purchase contract, advance payment receipt (more than 30% of the total house price) and copies of both.

3. Income certificate issued by the husband and wife's units or other certificates recognized by the bank as having the ability to repay the loan.

4. Personal housing loan application, housing loan contract, guarantee contract, etc.

5. The real estate mortgage application form and the real estate mortgage contract must be stamped and signed by the selling unit as the guarantor.

6. Relevant certificates stipulated by the bank.

The above was released on 2015-12-14, the current relevant housing purchase policy is subject to the actual situation).

Installment payment should be paid attention to: 1. Installment payment is recommended to be used when buying off-plan housing. 2. Do not use the provident fund before applying for a loan.

3. Don't forget the obligation to inform you if you rent out your house after taking out a loan. 4. Remember to revoke the mortgage after the loan is paid off. 5. If you have difficulty in repaying the loan, you can ask the bank around you for help. Wait a minute.

Installment payment should be paid attention to: 1. Installment payment is recommended to be used when buying off-plan housing. 2. Do not use the provident fund before applying for a loan.

3. Don't forget the obligation to inform you if you rent out your house after taking out a loan. 4. Remember to revoke the mortgage after the loan is paid off. 5. If you have difficulty in repaying the loan, you can ask the bank around you for help. Wait a minute.

Considerations for installment payments include:

1. Choice of loan method: You can choose equal principal or equal principal and interest according to your ability to repay;

2. Choice of loan term: You can choose a loan term of 20 years or 30 years according to your actual situation;

3. Selection of lending banks: You can compare the loan interest rates and other policies of each bank to choose the lending bank.

Legal analysis: The issues that need to be paid attention to when buying a house in installments are as follows:1Do not use your CPF before applying for a loan; 2.Do not make early repayments in the first year of borrowing; 3.Rent out your home after taking out a loan and don't forget about the obligation to inform.

Legal basis: "Measures for the Administration of the Sales of Commodity Housing" Article 3 The sale of commercial housing includes the current sale of commercial housing and the pre-sale of commercial housing. The term "commercial housing for sale" in these measures refers to the behavior of real estate development enterprises to give the buyer the commercial housing that has passed the completion and acceptance, and the buyer pays the house price.

The pre-sale of commercial housing in these measures refers to the act of real estate development enterprises giving the commercial housing under construction to the buyer in advance, and the buyer pays the deposit or house price.

1) Choose a property.

2) Apply for installment payment.

3) Sign a contract for the purchase of a house.

4) Sign a contract for installment payment.

5) Mortgage registration and insurance.

6) Open an account that is only used for repayment.

1.Introduction to buying a house in installments.

Buying a house in installments does not require full payment, only a part of the money can be paid to obtain the right to use the house, and then move in, but the remaining part needs to be paid off within the specified number of years, and the advantage is: you don't have to worry about the financial difficulties brought by buying a house to the family.

Installment payment is applicable to the purchase of housing and **, is a settlement method for housing credit business, under normal circumstances, the buyer only needs to pay 30%-50% of the house price first, and the rest of the predetermined time is on the line; This method is beneficial for both parties, first of all, the seller does not have to worry about not being able to recover the money, because the contract has the mandatory effect of the law, and secondly, the buyer does not have to worry about not being able to pay the money, because it is paid in batches, which is much more convenient.

2.The role of buying a house in installments.

What are the functions of buying a house in installments? First of all, the payment in batches can expand the sales volume of commercial housing, so that some of the houses that have not been sold can be put into use as soon as possible, so that the money and materials can play a comprehensive benefit; secondly, it can promote the stable and harmonious development of the real estate transaction market and attract a large number of buyers; Thirdly, it can also ensure that low-income people can also be guaranteed housing; Finally, existing public housing can also be sold to residents in installments to recover a large amount of money.

3.Other considerations.

The payment method of installment payment should generally be agreed in the contract, according to the progress of project development and construction, the payment of the house will be paid in stages, and when the house is to be delivered for use, a part of the final payment will be paid. The advantage is that the buyer may use the housing payment to urge and restrain the developer from opening the filial piety shed at the agreed time, and at the same time can relieve the pressure of one-time payment.

Conclusion: Buying a house in installments has been supported by people from all walks of life in the real estate market, and has now become a common form, however, buying a house in installments, although you can give a lot less when you make the first payment, but the next agreed time is to be delivered regularly, and the money for installment payment is much more than the money for one-time payment.

Nowadays, in order to improve their quality of life, many young people will choose to take out a loan to buy a house, and if you take out a loan to buy a house, you need to repay it in accordance with the regulations, so that you can alleviate your economy, improve the quality of life of your family, and provide a better living environment for your family. What are the precautions for buying a house in installments? Let's take a look at it.

What is the process of buying a house in installments?

Step 1: Apply.

The borrower and the co-applicant should bring the corresponding loan requirements to the management department of the housing provident fund to apply for the loan, and the borrower should fill in the provident fund loan application approval form.

Step 2: Preliminary review.

The acceptance personnel shall conduct a preliminary review of the materials according to the loan policy, enter the information in the form, and after the review is qualified, the system will output the contract text and loan IOU.

Step 3: Sign.

The loan applicant and the co-applicant should sign the loan document and the bank withholding agreement in the designated position.

The fourth step is to apply for insurance.

Loan applicants and co-applicants go to the insurance company's window to apply for insurance (loan repayment guarantee insurance and property damage insurance) and mortgage processing.

Step 5: Loan disbursement.

After the mortgage procedures are completed within the time limit of publicity, the management department of the subordinate department will review the receipt and loan materials and entrust the bank to transfer the loan to the bank card, and the borrower will collect it at the entrusted bank with the original ID card.

Step 6: Repayment.

The borrower shall deposit the principal and interest payable into the bank card or repay the loan at the window of the opening bank every month within the time limit agreed in the bank withholding agreement until the loan is fully repaid.

What are the precautions for buying a house in installments?

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

If the borrower withdraws the CPF balance to pay for the house before taking out the loan, the CPF balance on the CPF account will be zero, so the CPF loan amount will be zero, which means that the CPF loan will not be able to apply for the CPF loan.

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

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

3. If you have difficulty repaying the loan, don't forget to look for a bank around you.

If the borrower's ability to repay the debt decreases or he encounters difficulties during the loan period, he or she may apply to the bank for an extension of the loan term, and the bank will accept the application for an extension of the loan term if the loan principal and interest are not in arrears.

4. Don't forget to inform the obligation to rent out the house after the loan.

If you rent a mortgaged house during the loan period, you should inform the tenant in writing of the fact that the mortgage has been mortgaged.

5. Don't forget to revoke the mortgage after the loan is paid off.

After paying off all the principal and interest of the loan, bring the bank's loan settlement certificate and the certificate of the other real estate rights of the collateral to the core of the real estate transaction in the district or county where the property is located to revoke the mortgage.

6. Do not lose the loan contract and IOU.

The loan term can be up to 30 years, and the borrower should keep the contract and IOU safely, which are important legal documents.