Will there be a short message from the bank when the mortgage is approved?

There will be a SMS notification when the mortgage is approved. After receiving the SMS notification, users need to sign a loan contract with the bank within the specified time. If the user fails to sign the contract within the specified time, it shall be deemed that the user has given up the mortgage application. In addition to SMS notification, some banks will call applicants to inform users that they have passed the mortgage review, and then they need to go to the bank to sign a contract.

If the mortgage fails, there will be a text message to inform the user. At this time, users can call the mortgage bank and ask the specific reasons for the failure.

Is it necessary to refund the down payment if the mortgage is not approved?

1. If the borrower refuses for personal reasons (such as insufficient running water, credit problems, high debt, illegal down payment funds, etc.). ), the developer will follow the signed contract. If there is any relevant agreement in the contract, it shall be handled directly according to the agreement. Most of the contracts will have an agreement, and generally it is necessary to pay a penalty of not more than 20% of the total price of the property.

2. If the bank refuses to mortgage the house for legitimate reasons (for example, the house has not been put on record, or other problems lead to the house not being sold normally, or the original owner does not want to sell it, or the house is frozen and cannot be sold), it can ask the developer or the owner for a full refund. If the developer does not agree or collect liquidated damages, you can directly file a lawsuit with the court.

3. If the refusal is due to the bank's reasons (for example, the loan is too tight), then the buyer can negotiate with the seller to terminate the house purchase contract, and the seller should unconditionally refund the down payment for the house purchase.

4. If the policy changes suddenly (for example, after the contract is signed, the state introduces a purchase restriction policy, which leads to the buyer's conditions not meeting), then the buyer can negotiate with the seller to refund the down payment and deposit.

In a word, when the inquiry finds that the mortgage loan has not been approved, everyone should first find out the reason, and then negotiate the refund related matters. If there is a refusal to return goods, everyone should take legal weapons to safeguard their personal rights and interests.