How Do I Prequalify for a Mortgage?

Real estate mortgage is a credit act that uses real estate as collateral. The debtor legally transfers ownership of the real property to the creditor, but the creditor does not own the real property. As soon as a debt secured by real property is repaid, the transfer of ownership of the real property lapses immediately. Therefore, although the real estate was conditionally transferred at the time of the debt, ownership was immediately recovered after the entire debt was paid off. Real estate used as collateral is generally land and houses. The advantages of real estate mortgages are that the debtor retains possession of the real estate and can still use it; the creditor does not suffer losses because the debtor does not repay the debt because he has ownership of the real estate before the debt is paid off. ^[1]

Real estate mortgage

Real estate mortgage is a credit act with real estate as collateral. The debtor legally transfers ownership of the real property to the creditor, but the creditor does not own the real property. As soon as a debt secured by real property is repaid, the transfer of ownership of the real property lapses immediately. Therefore, although the real estate was conditionally transferred at the time of the debt, ownership was immediately recovered after the entire debt was paid off. Real estate used as collateral is generally land and houses. The advantages of real estate mortgages are that the debtor retains possession of the real estate and can still use it; the creditor does not suffer losses because the debtor does not repay the debt because he has ownership of the real estate before the debt is paid off. ^[1]

Real estate mortgage

Real estate mortgage is a kind of security of property rights. Therefore, it has the general characteristics of exclusivity and pursuit of property rights. At the same time, the peculiarities of mortgage rights make it have its own characteristics, which is different from

The requirements for setting up a real estate mortgage include:

The mortgagor must have the subject qualification. That is, the mortgagor should have the right capacity and ability to act, and at the same time have complete ownership and disposition of the mortgaged property;

The collateral must comply with legal requirements. Judging from the legislation of various countries, not all real estates can be mortgaged. According to China's "Guarantee Law" and "Urban Real Estate Management Law" and other relevant laws and regulations, the following real estates cannot be made.

1. Signing of a real estate mortgage contract

Generally speaking, the signing of a real estate mortgage contract is subject to procedures such as review and valuation. The review of collateral can be divided into three aspects: the mortgagor's subject qualification review, the mortgage property ownership review, and the mortgage value review. How to determine collateral

The procedure for real estate mortgages is more complicated. It is usually the case that the mortgagor is a borrower on the one hand.

Experts say that using real estate mortgage loans to invest is more risky, and investors need to be cautious.

There are three ways to quickly finance real estate mortgages:

First, mortgage the property to the bank to obtain the loan

(1) Apply

The "Urban Real Estate Management Law" stipulates that real estate mortgages should be signed with a written mortgage contract and registered for mortgage. The Property Law provides that mortgage rights are established at the time of registration. If the real estate mortgage is not registered, the mortgage right will not take effect. The collateral has no right of priority. In view of the great differences in land and real estate management systems in various parts of China, and the existence of multiple management models, the law stipulates that if urban real estate or the buildings of township (town) and village enterprises are mortgaged, the registration authority shall be prescribed by the people's governments at or above the county level. Because the mortgage right is another right established from the property right-the security real right, that is, the restriction of the real right, its main function is to limit the mortgager's right to dispose of the mortgaged real estate. Without the consent of the mortgagee, the mortgage The property shall not be punished by transfer, lease, etc. to avoid vacant guarantees, so the registration authority can only designate from the registration authority of real estate transaction rights, and cannot entrust other departments. The "Urban Real Estate Management Law" provides for statutory procedures for real estate transfers or changes, that is, to apply for registration of changes in real estate first, and apply for registration of changes in land use rights based on the changed house ownership certificate. In order to simplify the procedures and facilitate the parties to apply, and also to ensure the security of mortgage registration, some local regulations stipulate that the real estate management department is the mortgage registration authority for real estate mortgaged by the integration of housing and land; If the right is mortgaged, the land management department that issued the land use right certificate will handle the mortgage registration. ^[3]

First, the right to receive interest

Second, the mortgagor has certain punishment rights, such as the ability to continue to set up a mortgage, and can be transferred with consent.

Third, it can be rented. ^[2]