Large loans are usually funded by mortgages, but sometimes, even if you apply for a mortgage, you may not be able to fill the funding gap. At this time, many friends thought that if they used a property, could they apply for a mortgage in a number of banks? Does this not fill the large funding gap?
Bank mortgages will first evaluate the house. Usually, the maximum loan can only be 70% of the value of the house. If the bank can use up the loanable amount of the house, it will not be able to mortgage the house again. Moreover, once the mortgage registration is processed, the real estate license will indicate that the property has been mortgaged, and most lending institutions do not accept the mortgage of the house.
However, a small number of lending institutions will accept secondary mortgage loans, as long as there is a large loanable space. For example, after the housing assessment, the bank believes that it can lend 70% of the value of the home, and you actually only borrow 30%, which means that you still have 40% of the loanable amount. Under this circumstance, in some institutions that make mortgages for houses, they can apply for mortgage loans again.
But then again, there are too few institutions to do such secondary mortgages. They are basically invisible in banks. Only by looking for guarantee companies or some small loan companies can they be successfully financed. After mortgage and repayment of the property for a period of time, you can ask the guarantee company to make the first loan to pay off the remaining loan, and then cancel the mortgage registration, and then you can mortgage at the bank.