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Personal Housing Loan
The Personal Housing Loan is a financial service provided by China Construction Bank, enabling individuals in Mnland China to access funds for purchasing, constructing or renovating their homes. This loan is commonly referred to as a mortgage loan.
Purpose of the Loan:
This loan facilitate home ownership and improve living conditions within domestic borders by providing financing support.
Eligibility Requirements:
Applicants must be Chinese citizens with full capacity in civil conduct. The service is also exted to residents from Hong Kong, Macau who are fully capable of civil conduct and have permanent residence in Mnland China, as well as foreigners residing legally in China and with the ability for full civil capacity.
Conditions for Loan Application:
To qualify for a Personal Housing Loan, applicants need to fulfill all prerequisites simultaneously:
Legal Eligibility: Applicants must meet legal requirements.
Stable Income Sources: They should possess steady sources of income, mntn good credit history, and demonstrate capability in repaying principal and interest on the loan.
Documentation: Presenting proof of purchase, construction or renovation contracts as required by the ling institution is necessary.
Down Payment: Applicants need to self-finance at least 30 or 20 for self-occupied homes with a built area under 90 square meters of the home's total price and guarantee that this amount will cover the first installment payment when purchasing the house.
CollateralSecurity: Applicants must provide assets recognized by the ling bank as collateral or secure financial support from legal entities, other economic organizations, or individuals willing to act as guarantors with full repayment capacity.
Other Conditions: Adherence to any additional conditions by China Construction Bank.
Loan Limitations:
The maximum loan amount is capped at 80 of the house's purchase price, valuation price whichever is lower, for construction or renovation purposes.
Repayment Duration:
A maximum loan duration of up to 30 years is permitted.
Interest Rate:
Interest rates are determined in accordance with policies set by the People’s Bank of China and the China Banking Regulatory Commission.
Documents Required for Application:
Identity Documents: Chinese ID cards, household registers, military certificates for those residing outside Mnland China or overseas residents. For foreign applicants with legal residence status in China, passport evidence, visiting passes, home return permits are necessary.
Proof of Repayment Capacity: Documentation showing financial capability to repay the loan.
Sale and Purchase Agreement: Legal and valid contracts for purchase or construction, as well as renovation documents when applicable.
Funding Proof: Evidence that funds have been rsed by the applicant for purchasing homes construction or renovation.
Sales Permit: Housing sale or pre-sale permit for existing properties copy; property ownership certificate for existing houses copy.
Other Documents: Additional requirements specified by China Construction Bank.
Application Process:
Loan Inquiry: Prospective applicants can inquire about loan targets, application conditions, loan amounts, tenures, interest rates, repayment methods, and other procedures through the bank's branches, call centers, or online platforms.
Submission of Documentation: Applicants must submit the required materials to China Construction Bank for mortgage application processing.
Contract Signing: Once approved, a mortgage contract will be signed between the applicant and the bank.
Loan Disbursement: The loan amount is granted to applicants according to the agreed contract terms.
Regular Repayment: Applicants are expected to make timely repayments as per the agreement.
After-loan Service: Applicants can enjoy various new products and additional services offered by China Construction Bank.
China Construction Bank
All Rights Reserved. Beijing ICP License No.13030780
Security ID: 京公网安备 110102000450
Headquarters Address:
No.25, Finance Street, Xicheng District, Beijing, China
Postcode: 100033
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Personal Housing Loan China Construction Bank Eligibility Down Payment Requirements for Home Loans Maximum Loan Amount Limitation Explanation Interest Rate Determination Basis PBOC CBRC Detailed Application Documentation Checklist Repayment Duration Guidelines and Restrictions