What Is a Title Loan?

Mortgage loans refer to a type of loan business conducted in the form of a mortgage. For example, a housing mortgage loan is a personal housing loan business where a buyer uses the purchased house as a collateral and the real estate company provides a periodical guarantee. The so-called mortgage means that the mortgagee transfers the real estate property right to the mortgage. After the beneficiary is the guarantor of the loan, the beneficiary immediately transfers the property right to the mortgagee after the mortgagee pays off the loan.

Mortgage Loans

Mortgage loans refer to a type of loan business conducted in the form of a mortgage. For example: housing mortgage loans

The term "mortgage" was originally a local dialect and was more common in Hong Kong, Macao, and Taiwan regions of China. Since the end of the 1980s, they have gradually been seen in China's mainland from south to north. Except for the Hong Kong Special Administrative Region, there is no such provision in Chinese law. Before Hong Kong's return to the motherland, Hong Kong's mortgage regulations were divided into broad and narrow sense. Mortgage in the broad sense means any form of

Mortgages can be divided into existing mortgages and uncompleted mortgages. Existing mortgage refers to the borrower's borrowing to purchase the existing building, and the acquired existing building is used as collateral. An uncompleted mortgage is a mortgage loan provided by a financial institution to a home buyer who purchases an uncompleted building (the whole building, a stratified building, or a pre-sale of a unit before it is completed), and the mortgage is based on the borrower's right to purchase the house.

Mortgage loan procedures

The specific procedures for purchasers of real estate mortgages are as follows:

(1) If you choose a real estate buyer, if you want to get real estate mortgage service, you should focus on this aspect when choosing a real estate. When buyers know that some projects can apply for mortgage loans in advertisements or through the introduction of sales staff, they should further confirm whether the real estate developed by the developer has the support of the bank to ensure the smooth acquisition of mortgage loans.

(2) After applying for a mortgage loan, a buyer who purchases a house should confirm that the real estate of his choice is supported by a bank mortgage. He should check with the bank or a law firm designated by the bank on the bank's rules on house buyers' mortgage loan support. Mortgage Application.

(3) After signing the house purchase contract, the bank receives the legal documents related to the mortgage application submitted by the buyer, and after reviewing and confirming that the buyer meets the conditions of the mortgage loan, it issues a notice of consent to the loan to the buyer or a mortgage loan commitment. Buyers can sign a "commercial house pre-sale and sales contract" with the developer or its agent.

(4) After signing the mortgage contract for real estate purchasers, after signing the house purchase contract and obtaining the proof of payment of the house payment, they will sign the "Building Mortgage Mortgage Contract" with the developer and the bank with the relevant legal documents stipulated by the bank to specify the mortgage loan amount and term. , Interest rates, repayment methods and other rights and obligations.

(5) To handle mortgage registration, insurance buyers, developers and banks holding the "Building Mortgage Mortgage Contract" and house purchase contract to the real estate management department for mortgage registration filing procedures. For off-plan houses, mortgage registration should be changed after completion. Under normal circumstances, because the mortgage loan period is relatively long, in order to prevent loan risks, banks require buyers to apply for life and property insurance. Buyers purchasing insurance should specify that the bank is the first beneficiary, and the insurance must not be interrupted during the loan performance period, and the amount of insurance must not be less than the total value of the collateral. Before the principal and interest of the loan are paid off, the insurance policy is handed over to the bank.

(6) Open a special repayment account. After signing the "Building Mortgage Mortgage Contract", the buyer opens a special repayment account at a financial institution designated by the bank and signs a power of attorney to authorize the institution to use the account China Payment Bank's loan principal and interest and arrears related to the mortgage loan contract. The bank is confirming that the purchaser meets the conditions of the mortgage loan and fulfills the obligations stipulated in the "Building Mortgage Mortgage Contract". After going through the relevant procedures, the loan will be transferred to the bank supervision account opened by the developer at one time as the purchase price of the house buyer. ^[1]

First, please go to the bank to learn about the situation. And apply for relevant materials

Due to the large value of homes, even in countries or regions with high per capita income,

A comparison of buying a house in full and a mortgage

After choosing a house, the next problem was payment. Not all buyers can come up with the full amount, so there is

18 years of age or older with

(1) Apply. The client submits a written loan application to the bank and submits relevant information. (2) Sign the contract. After receiving the loan approval notice from the bank, the loan applicant must sign at the loan bank

Mortgage interest rate calculation

Increase in RMB for financial institutions since February 9, 2011

Mortgage buying advice

I. Apply for a loan amount within your capacity

When applying for a personal housing loan, the borrower should make a correct judgment on their economic strength and repayment ability, and at the same time make a correct and objective prediction of their future income and expenditure. Only then can we carefully determine the loan amount, loan term, and repayment method, design a repayment plan based on your income level, and leave room appropriately.

2. Select a loan bank for mortgage

The more and more detailed the bank's services are, the more flexible and personal financial services you will get, as well as the rich service and product portfolio. For example, ICBC Shanghai Branch has launched a series of new measures, such as adjusting loan terms for borrowers, allowing borrowers to change mortgages, and changing real estate rights holders.

Third, to choose the repayment method that suits you best

There are basically two personal housing loan repayment methods: equal repayment methods and equal principal repayment methods.

1. The equal repayment method will be adopted, and the repayment amount will remain unchanged (except for the adjustment of interest rates) to facilitate repayment, but more interest payments will be paid;

2. The equal principal repayment method is adopted, and the monthly repayment amount is gradually decreasing.

When signing a loan contract with a bank, the borrower must first understand the two repayment methods and determine the most suitable repayment method.

Fourth, the information provided to the bank must be true

Proof of true personal occupation, position and financial income should be provided. If you do not have enough ability to repay the loan, but exaggerate your income level, it is likely that a default occurred in the early stages of repayment, and bank investigations have confirmed that you provide false proof, which will affect your loan application.

V. Provide my address accurately and timely

Provide an accurate contact address to facilitate the bank to contact him, and receive the repayment notice sent by the bank on time every month.

Repayment on time every month to avoid penalty interest

You should entrust the loan bank to automatically debit from your deposit account or credit card account every month according to the agreed repayment date. You must pay attention to whether you have sufficient funds on your repayment account before the agreed repayment date every month to prevent your Negligence caused a breach of contract and was fined by the bank. ^[4]

Mortgage loan contract

Mortgagee: _______________ (Lender)

Mortgage: _________________ (borrower)

Guarantor: _________________ (Guarantor)

Article 1 General

The mortgagee and the mortgagor will sign the real estate mortgage loan contract (hereinafter referred to as the "contract") with the guarantor on ____________, and the mortgagor agrees to use the real estate sales contract signed with the guarantor. All the rights and interests under the mortgage are mortgaged to the mortgagee, and the mortgagee is given the first priority mortgage and is willing to fulfill all the terms of the contract; the mortgagee provides the mortgagee with a regular mortgage loan as part of the purchase price of the mortgaged property . The guarantor agreed to assume the guarantee responsibility for the loan.

This agreement is hereby concluded after tripartite negotiation and shall be implemented in accordance with it.

Article 2 Loan Content

I. The loan amount is ____coin____yuan. The mortgagor here irrevocably authorizes the mortgagee to deposit all the loans in the name of the mortgagee's purchase price into the depositor's sales unit account.

2. The term of the loan is ___ months from ______ to ____ and ____ to ____.

3. Loan interest rate: monthly interest ___ . In case of national interest rate adjustment, the loan interest rate will be adjusted accordingly.

Article 3 Debt Service

1. The principal of the loan under this contract and its corresponding interest shall be repaid in the form of repayment in installments. Number of periods _______ Payable ____ interest payable per period ____ (excluding changes in the amount payable due to interest rate adjustments), the first repayment date _______.

2. The mortgagor must open a deposit account with the mortgagee. The mortgagor irrevocably authorizes the mortgagee to pay the account for the principal and interest and all expenses related to the mortgage loan. If the account is overdrawn due to this, the mortgagor will be responsible for repayment.

3. If the mortgagor fails to pay the principal and interest in a timely manner as required, the mortgagor must immediately pay the period and overdue interest. The mortgagee has the right to increase the penalty interest by more than 20% on the basis of the original interest rate. Interest owed by the mortgagor is accrued on a daily basis.

Article 4 Prepayment

I. When the mortgagor voluntarily and early pays part or all of the amount stipulated in this contract, it must notify the mortgagee in writing 1 month in advance and be approved, and the mortgagee should be given 1 or 1 month of the payment Compensation for interest.

2. In any of the circumstances described below, the mortgagee has the right to require the mortgagee to immediately repay part or all of the actual loan amount in advance and / or to recover the guarantor immediately.

1. The mortgagor and / or guarantor violates any clause of this contract.

2. The mortgagor and / or guarantor has conducted improper or illegal operations.

3. Any major changes to the mortgagor and / or guarantor will affect its ability to fulfill the terms of this contract.

4. The mortgagor abandons the mortgaged property.

Article 5 Handling fees and other fees

I. Mortgage handling fee: The mortgagor should pay 3 of the loan amount. Pay the handling fee and pay it in one lump on the loan day. The mortgagee will not refund the handling fee under any circumstances.

2. Mortgage loan documents and storage fee: The mortgagee pays a one-time payment of 100 yuan on the loan day.

3. Notarization fees and mortgage registration fees: All the notary and mortgage fees involved in this contract shall be paid by the mortgagor.

4. The mortgagor and / or the guarantor's expenses caused by the mortgagor's proper behavior shall be repaid by the mortgagor and / or the guarantor, and the cost shall be from the date of occurrence to the date of receipt. Interest is also accrued on a daily basis.

Article 6 Mortgage of Real Estate

I. Mortgage of real estate under this contract refers to the mortgage of all the rights and interests of the mortgagor in the "real estate sales contract" signed by the mortgagor and the guarantor, including:

1. During the construction period of the real estate (before the date of the notice issued by the sales unit), the mortgagee's rights and interests are mortgaged.

2. Issued by the sales unit

Mortgage of the realtor's property after the person's notice (see attached table).

Registration of Mortgage Real Estate:

1. Mortgage of house purchase rights during the construction period of the property shall be filed with the Municipal Real Estate Right Registration Office for mortgage registration. The mortgagor's "property sale contract" and the "certificate of paid property price" issued by the housing unit shall be taken over and kept by the mortgagee.

2. When the property is completed and completed, the real estate property mortgage registration will be processed. The "property certificate" of the mortgaged property shall be handled by the guarantor and transferred to the mortgagee for receipt and storage.

Third, the insurance of mortgage real estate properties

1. The mortgagor must go to the insurance company designated by the mortgagee within the prescribed time and apply for insurance according to the type of insurance designated by the mortgagee. The subject matter of insurance is the mortgaged property under this contract. Total insurance for the amount of insurance not less than the amount of repurchased mortgaged property. Before the principal and interest of the loan are repaid, the mortgagor shall not interrupt the insurance for any reason, otherwise all costs and losses caused by it shall be borne by the mortgagor.

2. The insurance policy must indicate that the mortgagee is the first beneficiary of the insurance, and it must not be accompanied by any restrictive conditions that harm the rights and rights of the mortgagee, or any amount not responsible for compensation (except with the written consent of the mortgagee ), The original policy is administered by the mortgagee.

3. If the above insurance compensation amount is not enough to pay the debt owed to the mortgagee by the mortgagor, the mortgagee has the right to recover from the mortgagor and / or the guarantor until the entire amount is recovered.

4. If the property is damaged during the validity of this contract, and the insurance company believes that repairing the damaged part is in line with economic principles, the compensation under the insurance policy will be used to repair the damaged part.

Fourth, the release of the mortgage:

After the mortgagor repays all the mortgagee's money in time and fulfills all the terms of the contract and all other obligations, the mortgagee must release the mortgaged property in the mortgage contract if the mortgagor requests and bears the relevant costs The mortgaged interest in the mortgaged property will be returned to the "property certificate" and "contract for sale of real estate" of the mortgaged property.

Fifth, the collateral:

1. If the mortgagor fails to pay all the payables within 30 days or the mortgagor requires the mortgagor to return part or all of the arrears immediately in advance according to the provisions of this contract, the mortgagor can auction, transfer, or lease the collateral. And other forms of exercise of their power to dispose of collateral.

2. The mortgagee's proceeds from the disposition of the mortgaged property shall be deducted from the mortgager's loan after deducting all the expenses incurred for disposing of the mortgaged property, all taxes owed, and all the fees and incidentals payable by the mortgagee under this contract And interest payable. If there is any balance, the mortgagor will return it to the mortgagor or other persons entitled to receive it. If it is insufficient, the mortgagor has the right to recourse against the mortgagor and / or guarantor.

3. When the mortgagee uses its powers and rights, and the mortgagor suffers losses beyond its control, the mortgagee is not responsible.

Article 7 Mortgage Statement and Guarantee

While observing the other terms of this contract, the mortgagor also makes the statement and guarantee as follows:

1. All information provided to the mortgagee is true and reliable, without any falsification and concealment of facts.

2. Without the consent of the mortgagee, the mortgagor shall not dispose all or part of the above-mentioned mortgaged property in any form. If all or part of the above-mentioned mortgaged property is damaged, no matter what the reason is, and no matter who is at fault, the mortgagor shall bear the full responsibility and compensate the mortgagee for all the losses caused thereby.

3. The mortgagor must obtain the written consent of the mortgagee to lease the mortgaged property in advance, and the lease must specify: When the mortgagor departs, the tenant must move out within one month from the date of the letter issued by the mortgagee .

4. If the guarantor repays all the arrears on behalf of the mortgagor, the mortgagor agrees that the mortgagor transfers the interest in the mortgaged property to the guarantor. The guarantor has the right to dispose of the collateral in any form and has recourse against the mortgagor. The guarantor has no counterclaim.

5. Take all measures and sign all relevant documents in accordance with the reasonable request of the mortgagee to ensure the legitimate rights and interests of the mortgagee.

Article 8 Guarantees and Guarantee Liabilities

I. The guarantor is an enterprise legal person of the People's Republic of China, the seller of the real estate sales contract for the mortgage interest under this contract, and it is also the subject of this contract

The introducer and guarantor of the loan mortgagor undertaking the unconditional and irrevocable guarantee obligations are as follows:

1. Guarantee amount: limited to the principal and interest of the loan under this contract and the litigation costs related to this contract.

2. Guarantee period: From the effective date of this contract to the delivery of the real estate by the guarantor, the person's notice is issued and the real estate title certificate is completed and delivered to the mortgagee.

2. The guarantor guarantees that the construction of the mortgaged property will be completed on time and in accordance with the requirements of the mortgage property sale and purchase contract, and the mortgagee will not bear any responsibility for this.

Article 9

The mortgagee must lend the loan amount in full within 3 days after verifying all the loan documents received.

Article 10 Others

1. Each party shall not modify, waive, cancel or terminate, verbally or otherwise, any clause of this contract.

2. During the performance of this contract, any rights, powers, or delays imposed by the mortgagee on any breach or delay of the mortgagee's enjoyment of the rights and powers enjoyed by this contract shall not damage, affect or restrict the mortgagee in accordance with this contract. And all the rights and rights that creditors should enjoy under the relevant laws.

3. The guarantor and guarantor shall still perform all repayment responsibilities regardless of the reasons for which this contract is legally invalid or some clauses are invalid. If the above situation occurs, the mortgagee has the right to terminate this contract and immediately recover the principal and interest of the arrears and other relevant amounts from the guarantor and the mortgagor.

4. When the mortgagee seeks repayment from the mortgagor and the guarantor, it only needs to provide the amount owed by the mortgagor (except for obvious errors), that is, as the exact evidence owed by the mortgagor and the guarantor. The mortgagor and guarantor shall not object.

5. Matters that have not been completed shall be implemented in accordance with relevant national laws and regulations.

Article 11

This contract is concluded and protected by the laws of the People's Republic of China.

Article 12 Supplementary Provisions

1. This contract must be signed by representatives of the three parties and notarized by the Municipal Notary Office.

2. The contract takes the date on which the mortgagee lends money as the contract effective date.

3. Schedules 1 and 2 described in this contract, mortgage loan applications, loan debits, and real estate sales contracts signed by the mortgagor and the guarantor are an integral part of the contract.

4. This contract is written in Chinese, in five copies, all of which have the same effect. The mortgagor, mortgagee and guarantor each hold one copy, and the notary office and the registry file one each.

The parties to this contract have read and agreed to abide by all the terms of this contract. The following signatures are true:

Mortgage: _______ (Official Seal) Mortgage: ________ Guarantor: _________

Representative: ______________ Representative: ________ Representative: _________

Registration authority: ___________________________________________________

Mortgage registration number: ____________________

Mortgage registration date: ______year____month____

Schedule I:

Mortgage Information

Mortgage (owner) Name: (Chinese) _________________

(English)_________________

Gender: _____ Year: ______ ID Number: ________________________

Work unit: ________________ Phone: ______________________________

Spouse name: ________________ Age: ______ ID number: ________________________

Work unit: ________________ Phone: ______________________________

Home Address: ________________ Phone: ______________________________

Schedule II:

Collateral details

Property address: ______________________________________________________

Building name: __________ Building type: _______ Number of buildings: __________________

Duration: ______________ Area (building): ______________________________________

Uses: ______________ Purchase price: ____________________________________________

Real estate sales contract notarization number: ()

Card room sale word No. _________ ^[5]