With more and more people buying houses, many people buy houses by applying for loans. When buying houses, many people worry about whether they will refund the down payment if they cannot make the down payment. So can they refund the down payment if they cannot make the down payment?
Can the down payment be refunded if the down payment is paid
The down payment was paid, but the loan could not be processed. The down payment can be refunded. For example, because the lender's personal credit information is poor, personal conditions do not meet the loan conditions and other reasons, the loan cannot be approved. The lender needs to bear the responsibility for breach of contract, and then return the down payment. If it is a housing loan that cannot be approved due to the developer's reasons, the lender can request the return of the down payment.
In a word, if the down payment is paid but the loan cannot be made, it depends on which party is responsible for it and who is responsible for it needs to bear the liquidated damages. When applying for a house loan, it is best to consult with the developers to avoid unnecessary trouble.