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Personal Housing Loans ? refer to RMB loans granted by the ABC to borrowers to facilitate commodity housing purchases.

Types of Personal Housing Loans:

·Personal housing loans on own account

·Guarantee loans combined personal housing loans on own account with personal housing loans on public reserve funds

·Loans on public reserve funds for designated houses

·'Second-hand housing' loans

Prospective borrowers:
 
·A Chinese citizen, resident in Hong Kong, Macao or Taiwan and resident alien;

·A Chinese citizen shall have the Shanghainese resident booklet (also known as Hukou) or valid resident certificate;

·If the borrower does not live and work in Shanghai, he/she shall provide the agent’s photocopy of ID card, address, telephone numbers and organization;

·A resident in Hong Kong, Macao or Taiwan shall provide his/her ID card, home-returning certificate or passport. A resident alien shall provide his/her legal and valid resident certificate.

Application eligibilities:

·An 18+ years of age with full capacity for civil conduct;

·The borrower shall have a Shanghainese Hukou or valid resident certificate;

·The borrower shall have a stable occupation and income with strong repayment capability;

·The borrower has signed a housing presales/sales contract with the property developer and shall be able to pay 20% of the total value of the house to be purchased;

·The borrower shall consent to mortgage the house to be purchased and have dealt with the property insurance and registration;

·The borrower shall have a demandcurrent deposit account or banking card account with the ABC;

·If the borrower does not live and work in Shanghai, he/she shall provide the agent's photocopy of ID card, address, telephone numbers and organization;

·For combined loans, the part of loans on public reserve funds shall comply with the requirements specified by the Shanghai Housing Purchase Guarantee Company.

Borrowing Limit:

·The amount of a single guarantee loan shall not exceed 80% of the total value of the house to be purchased;

·For combined loans, the amount of loans on basic public reserve funds shall not exceed RMB100,000 and supplement public reserve funds RMB30,000;

·The amount of a second-hand housing loan shall not exceed 80% of the evaluated value of the house, among which, the amount of loans on basic public reserve funds shall not exceed RMB100,000 and supplement public reserve funds RMB30,000.

Modes of Guarantee:

·The borrower shall mortgage the house to be purchased as a mortgage guarantee when applying for the loan.

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