There are only four types of personal housing mortgage loans that are compliant and legal.

If you have a mortgage on your property, it will be easier to get a loan from a bank. But many people still don’t know that banks also have clear regulations on the uses of personal home mortgage loans. Let’s take a look at some of the uses for personal home mortgage loans.

1. Consumption Personal housing mortgage loans can be used for various consumption purposes, such as decoration, going abroad, tourism, studying abroad, medical treatment, etc. 1) House decoration. In addition to buying a house, the subsequent renovation costs of the house also require a considerable amount of money. If you have tight liquidity, you can apply for a mortgage loan through Liberty Homes to cover the cost of the renovation project. 2) Travel. Everyone has a dream to travel around the world, but without financial support it is impossible to realize it. At this time, personal real estate mortgage loans can effectively solve the cost problem. 3) Purchase durable consumer goods. Such as furniture, electrical appliances, etc. Since such products require a lot of money, there are many citizens who apply for real estate mortgages.

2. Buying a house. The most common use of personal housing mortgage loans is to buy a house. An individual mortgages the new commercial house or second-hand house he purchases to the bank, pays the down payment himself, and the bank pays the rest to the real estate developer on behalf of the individual. After that, the individual repays the loan to the bank in the form of a mortgage. Personal real estate mortgage loans are used to purchase houses. As long as there is a real estate mortgage and personal related information, the general loan difficulty is relatively small, and the possibility of obtaining a Construction Bank loan is high.

3. Buying a car is similar to buying a house. When an individual does not have the full payment to buy a car, he or she can apply for loan support from China Construction Bank. However, because the car will depreciate, the purchased vehicle cannot be used as a mortgage and the personal property must be used. Used as mortgage property to obtain loan support provided by China Construction Bank. Generally, the term of a car loan is 5 years, and the loan from China Construction Bank will be repaid in 5 years. The property mortgaged by the individual is still owned by the individual.

4. Business operations