Self-constructed housing loan is issued by loaner to borrowers to finance their self-constructed residential house.
☆ Target Client
The borrower of personal self-constructed hosing loan shall be the natural person of full civil capacity within 18-65 years old (including 18 and 65 years old) with good credit history and willingness for payment.
☆ Application Conditions
Borrowers applying personal loan for self-constructed house must fulfill the following conditions besides the basic conditions for personal housing loan:
1. The house constructed is designed reasonably, marketable with strong realization ability; can be set as mortgage;
2. The land for constructing house must be acquired with compensated transfer method and the borrower must own nation-owned land use right;
3. The house constructed has obtained the project approval by relevant authorities with legal, complete, authentic and valid procedure;
4. Borrower (construction declarer) has acquired some construction documents like "Nation-owned Land Use Certificate", "Construction Land Planning Permit", "Construction Project Planning Permit" and "Construction Project Construction Permit";
5. Borrower has paid off land transfer fee and obtained land transfer fee payment voucher;
6. Has Estimate and Budget of Building Engineering and Engineering Construction Schedule for the house self-constructed;
7. No property right dispute exists in the house constructed.
Before applying personal loan for self-constructed house, prepare and submit the following regarding the house besides borrower's personal particulars.
1. Copies of project approval document, design plan and 4 necessary certificates for the self-constructed house;
2. Voucher certificating that the land fee of self-constructed house has been paid off;
3. Account voucher of construction fund that has been inputted into the self-constructed house;
4. Estimate and Budget of Building Engineering and Engineering Construction Schedule for the self-constructed house;
5. Certificate of guaranty ownership and written documents signed by common owners of the guaranty about the agreement on mortgage;
6. Guaranty Appraisal Report that was issued by appraisal agency recognized by loaner;
7. In case the united land sales of real estate developer for self-constructed house have been approved by the government, the approval documents about agreement on construction issued by relevant authorities shall be offered.
☆ Loan limit
Loan limit is 70% of the cost price of the house purchased at most.
☆ Loan Tenure
Up to 30 years, sum of the borrower's age and loan tenure is 70 years maximum.
☆ Loan Interest Rate
Loan rate follows the PBOC's rules, floating margin based on the PBOC's benchmark rate for loans of the same tenure same class;
☆ Repayment Option and Services
Options available are straight line repayment, reducing balance method, balloon repayment (every 2 weeks or 3 weeks), and "Repay Anytime". For further details, please refer the details of personal loan for first-hand house.
☆ Service Channel and Time
You can submit the loan application to ICBC personal loan center or credit loan business department of local ICBC branch.
☆ Operation Guide
Please refer to the operation guide on personal loan for first-hand house.
☆ Interest rate information
RMB Loan Interest Rate Table