The latest news on second-home loan interest rates in Beijing in 2022

Starting from October 1, 2022, Beijing will lower the provident fund loan interest rates for first-time personal housing, with interest rates below 5 years (including 5 years) It dropped to 2.6, and the interest rate over 5 years dropped to 3.1. The interest rate policy for the second set of personal housing provident fund loans remains unchanged, that is, the interest rates for less than 5 years (including 5 years) and more than 5 years will not be lower than 3.025 and 3.575 respectively. What is the term of a housing provident fund personal housing loan?

The housing provident fund personal housing loan period is generally a minimum of 1 year and a maximum of 25 years. Specific to the individual, it should be determined based on the age of the borrower applicant and the remaining useful life of the house purchased:

(1) Calculate the number of years that the loan can be obtained based on the age of the borrower applicant, that is, 65 years old minus the time of application of the applicant Age;

(2) If you buy a second-hand house, you need to calculate the number of years that you can borrow based on the remaining useful life of the house you purchased, that is, the service life of the building (50 years for brick-concrete buildings, 50 years for steel-concrete buildings) (60 years) minus the building’s useful life and then minus 3 years.

The shorter of the above two years is determined as the maximum loan period. For example: The applicant applied for a loan from the Beijing Housing Provident Fund Management Center to purchase a second-hand house. He is 40 years old and his spouse is 45 years old. The house purchased is a brick-concrete structure and has been used for 23 years. The loan period calculated based on age is 25 years, and the loan period calculated based on the remaining useful life of the purchased house is 24 years (50-23-3=24 years). The maximum loan period for the applicant is 24 years.