How long does it currently take for bank pre-approval of provident fund loans?

1. How long does it currently take for bank pre-approval of provident fund loans?

It usually takes one month.

2. How long does it take for the loan pre-approval to be finalized?

Bank pre-approval generally takes 7 to 20 working days. However, the bank's approval time for commercial loans is 20 days, and the approval time for provident fund loans is relatively short, basically 7-10 days, but the bank's approval time for portfolio loans also takes about 20 days.

House loan application process:

There are three types of loans: commercial loans, provident fund loans, and commercial and provident fund combined loans.

Purchase a house when submitting a loan application Applicants need to submit the original and photocopies of the house sales contract, household register, marriage certificate, ID card, income certificate and other documents at the same time.

After the information is submitted, the bank will verify the information you submitted, mainly to review the home buyer’s basic information, creditworthiness, and repayment ability. At the same time, the bank will also ask a professional appraisal company to evaluate the value of the house. Carry out an appraisal (the appraisal result is generally slightly lower than the purchase price). After approval, the bank will notify you to sign a loan contract.

The bank lends money and completes the loan.

3. How long does it take for bank pre-approval?

The bank pre-approval will take one week from the time of receipt of the loan application materials. It will be reviewed by phone and other methods.

4. How long does the bank pre-approval take?

Under normal circumstances, bank pre-approval generally takes 7 to 20 working days. However, the bank's approval time for commercial loans is 20 days, and the approval time for provident fund loans is relatively short, basically 7-10 days, but the bank's approval time for portfolio loans also takes about 20 days.

Mortgage loan methods

1. Commercial loans: Generally speaking, commercial loans have higher loan interest rates than provident fund loans, and the down payment amount required is also higher. In actual economic life, commercial loans can also be called personal housing loans. Each commercial bank needs to implement the loan interest rate uniformly stipulated by the central bank, which can fluctuate up or down according to its own actual conditions;

2. Provident Fund Loans: Provident fund loans are specifically targeted at employees who have paid housing provident funds. Generally speaking, provident fund loans are operated by the local provident fund management centers in various places, and lenders need to go to the local provident fund loan center for approval;

3. Portfolio loans: specifically refers to the application of a combination of lenders Commercial loans and provident fund loans, this kind of loan has a relatively moderate interest rate and is also a loan with a large loan amount.