When applying for real estate mortgage loans, there are too many lending institutions and banks, so which one to choose has become a headache for many customers, because we have to consider safety, interest rates, quotas, loans, and choices. It’s very important. The processing speed of different banks and institutions may vary by about 1 month. So, which bank is better for real estate mortgage loans? Which bank has the lowest interest rate for real estate mortgage loans?

Compare application conditions

Different banks have different conditions for applying for real estate mortgage loans, such as credit status, personal income, workplace, repayment ability, etc. When applying for a real estate mortgage loan from a lending company, it mainly depends on whether the value of the property is high and whether it has the ability to be liquidated. Borrowers with good or bad credit status and debts can generally get loans from banks or loan companies as long as they can provide qualified properties for mortgage.

Compare loan interest rates

Compared with credit loans, real estate mortgage loans have lower risks because the real estate serves as a guarantee for bank lending. However, currently, the interest rates of real estate mortgage loan products of various banks are different, and the loan interest rates of the same bank will also be different in different regions.

Currently, banks’ real estate mortgage loan interest rates are based on the base interest rate. In 2017, the bank’s base annual interest rate is 4.35% for less than one year (including one year), and 4.35% for one year to five years. The base interest rate is 4.75% for one year (including five years) and 4.90% for more than five years. You can refer to it.

Compare the approval speed

Real estate mortgage loan banks have many processes and the approval time will be relatively long. It will take about 20 working days at the earliest to get the loan. The loan company has simple procedures and fast approval. You can usually get the loan within 10 working days.

Compare loan amounts

Generally speaking, the amount of a real estate mortgage bank loan is related to the appraised value of the house, and the maximum is about 70%.

In general, it is not easy to apply for a bank loan, and failure to apply will also affect your credit record. In order to obtain lower financing costs and handle large-amount bank loans conveniently and quickly, people usually go to professional institutions, such as Dongguan Fangsu Loan. With their professional industry knowledge, they can help customers solve difficult problems in the financing process. Help customers choose the most suitable financing solution from thousands of banks. Fangsu loan financing consultation hotline: 0769-33888836