Product Overview

A personal housing loan is a commercial loan granted by Bank of China to borrowers for purchasing property. It is categorized into new housing loans and second-hand housing loans, depending on whether the real estate ownership certificate is obtained prior to the property transaction.

Eligible Borrowers

Applicants for a personal housing loan must meet all the following conditions:

(1) Be a citizen of the People's Republic of China with full capacity for civil conduct, or an international natural person who complies with relevant national regulations and holds a valid residence status;

(2) Have a stable job and income, a good credit standing, and the ability to repay the loan principal and interest;

(3) Hold a legal and valid housing purchase contract or agreement;

(4) Have paid the down payment in compliance with the laws, regulations, regulatory requirements, and the provisions of BOC — and the requested loan amount, terms and currency must be reasonable;

(5) Provide a valid guarantee recognized by BOC;

(6) Not be on BOC's anti-money laundering (AML) watch list that prohibits business dealings and their eligibility must comply with BOC's AML and sanctions compliance regulations;

(7) Meet other conditions stipulated by the laws, regulations, regulatory provisions, and BOC.

Application Channels

BOC branches

Required Documents

(1) Loan application form;

(2) Legally valid identification documents;

(3) Proof of down payment for the purchased housing;

(4) Proof of income recognized by BOC;

(5) A legal and valid housing purchase contract or agreement;

(6) Authorization to query the People's Bank of China's personal credit information system and to record the query results;

(7) Other certificates or documents required by the laws, regulations, regulatory provisions, and BOC.

When applying for a personal second-hand housing loan, in addition to the documents listed above, the following should also be provided:

(8) Valid identification documents of the seller (including any co-owners);

(9) Valid proof of ownership documents for the property to be sold;

(10) A written document signed by all property co-owners agreeing to the sale;

(11) Other documents or materials required by BOC.

Notes

A significant number of documents are required for loan applications. For further inquiries, please consult a local BOC branch.