The interest rate of the first home loan can be reduced to 4.4%. On May 15, the central bank and the China Banking Regulatory Commission released a new message: for families who purchase ordinary self-occupied houses by loans, the lower limit of the interest rate of commercial personal housing loans for the first home will be adjusted to not less than the quoted interest rate in the loan market minus 20 basis points. According to the new (April 2022) five-year LPR quotation of 4.6%, that is, the interest rate of the first home loan is not less than 4.6%. After this notice, the interest rate of the first home loan can be lowered to 4.4%.
Does the adjustment of mortgage interest rate affect the repayment of purchased houses?
Whether the increase in the benchmark interest rate of mortgage has an impact on property buyers, the specific problems are analyzed in detail.
1. If the buyer signs a contract with floating interest rate when handling the mortgage loan, the increase of the benchmark interest rate of the mortgage loan will have a certain impact. Because it is a floating interest rate, if the bank raises the bank's mortgage interest rate according to the benchmark interest rate, the buyers will borrow from the rest of the house according to the raised interest rate, instead of the mortgage interest at the time of signing the contract, resulting in more mortgages for customers. However, if banks lower mortgage interest rates, buyers will need fewer mortgages.
2. If the purchaser initially agreed on a fixed interest rate when signing the housing loan contract, the increase of the benchmark interest rate of housing loan will not affect it.
Conditions for the first housing loan
1. The loan applicant must be a person with full capacity for civil conduct and a mainland resident with a second-generation ID card.
2. If the loan applicant needs to live permanently in the town, he must hold a valid identity certificate.
3. The loan applicant needs to have a stable source of work income, and submit relevant certificates, including work seal certificate and bank statement certificate.
You need to sign a contract or agreement to prove that the loan is used to buy a house.
5. Buyers without housing subsidies should pay 30% of the purchase price; Individuals bear 30% of the house purchase subsidy as the down payment.
6. Units and individuals that use the assets recognized by the lender as collateral and have sufficient compensation capacity.
7. Other conditions stipulated by the lender.