Introduction
Direct personal housing loan is a loan directly applied through JRCB without referral by real estate developer or agency.
Target Client
The borrower of Straight-back personal housing loan shall be the natural person of full civil capacity within 18-65 years old (including 18 and 65 years old) with good credit history and willingness for payment as well as a valid phased guarantee.
Features
In addition to all the advantages in first-hand and second-hand housing loans, direct personal housing loan has the following features:
1. Flexible choice of developers -- JRCB loans are available to any real estate projects, not restricted to projects with mortgage cooperation agreement signed between JRCB and the developer.
2. One off payment preference -- you can sign a One-off Payment House Sales Contract with developer after the approval on the loan so as to enjoy one off payment preference.
3. Flexible guarantee options -- with no guarantee required to secure the loan, you may get the loan early by providing valid interim guarantee recognized by JRCB.
Application Conditions
See details on personal loan for first-hand house, second-hand house for the conditions and documentation required for applying direct personal housing loan.
When applying direct personal loan for first-hand house, submit the following regarding the house besides the borrower's personal particulars:
1. Letter of Intent for Buying Commercial Housing signed between borrower and seller or other documentation proof;
2. Borrower's bank deposit slip for the down payment.
Loan limit
Loan limit is 70% of the market value of the house purchased at most.
Loan Tenure
Up to 30 years, sum of the borrower's age and the loan tenure is 70 years maximum. If the loan is for buying second-hand house, the loan tenure cannot longer than the remaining years of land use right of the mortgaged house. For loan applied by two (inclusive) or more borrowers, the loan tenure can be based on the younger borrower if all conditions are met.
Loan Interest Rate
Loan rate follows the PBOC's rules, floating margin based on the PBOC's benchmark rate for loans of the same tenure same class.
Repayment Option and Services
Options available are straight line repayment, reducing balance method, balloon repayment (every 2 weeks or 3 weeks), "Repay Anytime" and "Repay interest only before moving into the house". For further details, refer the personal loan for first-hand house.
☆ Service Channel and Time
You can submit the loan application to JRCB personal loan center or credit loan business department of local JRCB branch.
Operation Guide
Please refer to the operation process of personal brand new housing loan or consult local JRCB branch for details.