How to calculate the loan period for second-hand houses?
Take commercial loans as an example. The loan period for second-hand houses is usually: 50 years - the age of the house, 65 - the age of the lender, whichever comes A shorter period of time, but not more than 30 years.
Commercial loan period
1. Second-hand commercial or commercial-residential houses with 40-year or 50-year property rights
This type of second-hand house has the longest commercial loan period for 10 years.
2. Houses with 70-year property rights
The commercial loan period for second-hand houses is affected by two factors: the age of the house and the age of the lender.
(1) Look at the age of the house: loan period = 50-house age
It should be noted that the age of a second-hand house is based on the evaluation report of an evaluation agency recognized by the bank. of.
(2) Look at the age of the borrower: loan term = 65-age of the lender (some banks are 70-age of the lender)
The maximum term of a commercial loan is generally 30 years. The above two algorithms take the shorter one.
In addition, the bank also requires that the loan maturity date cannot exceed the land use right period. The land use life of a house is calculated from the time the developer acquires the land. The land use life should normally be 70 years, but second-hand houses will definitely not reach this age. If the land use life is too short, it will also affect the mortgage life.
Period of Provident Fund Loans
1. Second-hand commercial or commercial-residential houses with 40- or 50-year property rights
Provident Fund loans cannot be used for such second-hand houses.
2. Houses with 70-year property rights
(1) Calculated according to the structure of the house:
Brick-concrete structure: loan period = 47-house age;
Steel-concrete structure: Loan period = 57-house age.
The property certificate of most houses will reflect whether the house is a brick-concrete structure or a steel-concrete structure in the house status column. The age of the houses here is also determined by the assessment agency recognized by the Provident Fund Center.
(2) Identification based on different provident fund centers:
State-managed provident fund: loan period = 69 - borrower’s age;
Municipally managed provident fund: loan period =70-Lender’s age.
The longest provident fund loan term is 30 years. The loan term calculated based on the age of the house and the age of the borrower, whichever is shorter.
Portfolio loan term
Combined loan requires that the commercial loan term and provident fund loan term must be the same. The shorter of the commercial loan period and provident fund loan period initially calculated through the above method is used as the portfolio loan period.
Of course, the term of the portfolio loan is also based on the evaluation of the evaluation agency. Moreover, you generally cannot find an appraisal company by yourself. You must find an appraisal agency recognized by the Provident Fund Center.
In summary, we can only initially calculate how many years a second-hand house can be loaned based on the age of the house and the age of the lender. The final number of years the loan can be determined is determined by the evaluation report issued by the bank or an evaluation agency recognized by the Kilogram Center.
What is the loan term?
The loan term refers to the period from the date of the loan to the repayment date agreed by both parties. For example, a home buyer obtains a mortgage loan of RMB 1 million from a bank. The loan date is January 1, 2010, and the maturity date is December 31, 2030, so the loan term is 20 years.
How to calculate the loan period?
1. Generally speaking, the maximum term of a commercial loan is 30 years. Some banks require that the borrower's age and the loan period must not exceed the legal retirement age of the individual and his or her spouse (65 for men and 60 for women); some banks require that the loan period be less than 70 years. The loan period stipulated by each bank is different. Please refer to the bank's regulations.
2. The maximum term of housing provident fund loans is 30 years, and does not exceed the legal retirement age of employees and their spouses (65 for men and 60 for women); some also say that the age of the borrower cannot exceed 70 during the loan period. years, subject to the loan period stipulated by the provident fund management center in each locality.
3. In the portfolio loan, the provident fund loan and the commercial loan must have the same term, and the requirements for the loan term are the same as above.
In short, the loan term = the legal retirement age stipulated by the state (or 70 years old) - the actual age of the borrower. The younger the age, the longer the loan term; conversely, the older the age, the shorter the loan term. Age is the most important and common factor that affects the life of a loan.
How to choose the loan term?
1. Just need a crowd. The crowd only needs to consider one thing: repayment ability! If your repayment ability is high, choose one with a shorter term, but if your repayment ability is low, choose one with a longer term, and try to keep the monthly payment within 50% of your monthly income.
2. You just need to consider the investment crowd. The purpose of this group of people buying a house is not only to live in it, but also to sell it or replace it with a new one in the future. The loan term depends on the rate of return on investment from other sources. Return on investment home loan interest rate, the longer the loan period, the better. Business rate of return
How to calculate the loan period
Hello, according to the current loan policies of various banks. As follows
Commercial loans:
Bank of China: House age requirement: house age and loan age 50 (house age is calculated from the time of completion). Age requirement: The age of the loan is 70 years old (regardless of gender)
China Construction Bank: House age requirement: House age and loan age (the house age is calculated from the time of land approval). Age requirement: The age of the loan is 70 years old (regardless of gender)
ICBC: House age requirement: House age and loan age (the house age is calculated from the time of land approval). Age requirement: The age of the loan is 70 years old (regardless of men and women)
Agricultural Bank of China: House age requirement: House age and loan age (the house age is calculated from the time of land grant). Age requirement: The age of the loan is 70 years old (regardless of men and women)
China Merchants Bank: The age requirement of the house is: the age of the house is 45 years old (the age of the house is calculated from the time of completion). Age requirement: 70 years old for loan (regardless of gender)
Minsheng Bank: House age requirement: 45 years old for house loan (house age is calculated from the time of completion). Age requirement: The minimum loan age is 70 (regardless of gender)
According to the above policies, if you make a good choice in choosing a loan bank, then you will have no problem getting a loan for 30 years.
How is the loan term calculated?
The length of the loan term is related to the age of the house and the age of the borrower.
1. Generally speaking, the age should be less than 30 years old. The loan life is generally calculated based on the loan life and the age of the house. 2. Loans for purchasing houses are mainly commercial loans, provident fund loans and combination loans. The loan period of the mortgage is Also different. The maximum term of personal housing loans from commercial banks is 30 years. The term of each loan is negotiated between the commercial bank and the borrower based on the borrower's age, working years, repayment ability and other factors.
3. Loan specific process:
(1) Apply for a loan. Customers should learn about the bank's credit products in advance and see if any are suitable for them. After understanding clearly, they can call the bank's customer service for consultation or on-site consultation. Go to the bank to fill out a loan application form and bring relevant documents such as ID card, household register, residence permit, work permit, marriage certificate, etc.
(2) Pre-loan investigation. The bank is qualified to conduct a preliminary review of the personal information of the loan applicant. If the applicant meets the conditions, he or she will proceed to the next step of the loan process.
(3) Loan approval. The approver determines whether the loan will be approved based on the loan applicant's repayment ability, personal credit record, guarantee mortgage, etc.
(4) Mortgage registration. If a loan applicant chooses a mortgage loan, he or she needs to go through relevant registration procedures after being approved.
(5) Grant loans. Loans can be issued to those who meet the bank's loan conditions and have completed all procedures legally.
1. Several common situations in which banks refuse mortgage loans:
(1) Poor credit record leads to failure in loan approval: Nowadays, most people have multiple credit cards at the same time, and "card owners" "Many of them have a history of late repayments. After enjoying the convenience of credit cards, they don’t care about credit record problems. In recent years, there have been many cases where banks have refused to lend due to overdue credit cards. If a credit card is overdue for a total of 6 times for 3 consecutive times, it will be regarded as bad credit by the bank and the loan application will be rejected.
Therefore, you should pay attention to credit problems, repay your loans in a timely manner, and avoid becoming a credit blacklist.
(2): With the development of the Internet and big data, many people around you have begun to borrow money online, some are doing business, and some are using loans to support loans. Although these people have good credit scores, when you apply for a home mortgage loan at a bank, the bank will require you to pay it off in advance. Therefore, before buying a house, you should promptly and accurately evaluate your debt ratio, unless your income can fully support microfinance and housing loans. But according to experience, when actually applying for a loan, 95% of banks will require you to repay it. Once your mortgage is approved, you can apply for it. Therefore, you must ask relevant questions before buying a house. There are many cases of check-out due to unclear settlement. (The above refers to loans on credit).
(3) Consumer loans: refers to some, such as computer installments, mobile phone installments, etc. No matter the amount, they must be paid off before they can apply for a mortgage, especially for single customers.
(4) Car loan: Under normal circumstances, it is not difficult to apply for a car loan with a home loan. If you already have a car loan, it will be difficult to apply for a home loan.
(5) Whether there is low-rent affordable housing or special welfare housing for a certain period of time (regional policy): Before purchasing a house, you should determine whether there is low-rent affordable housing in the name of family members. Before buying a house, ask your family if there is such a house. If this is the case, you'd better go to the housing authority in advance to inquire whether you need to cancel or whether it can be transferred. Then decide whether to buy a house. Don’t be in a dilemma after paying money but not being able to check out.
How to calculate the housing loan term?
The loan term requirements for commercial loans and provident fund loans are as follows:
Commercial loans: Each bank has different regulations. The most lenient is that the borrower’s age and the loan term should not exceed 70 years. The house must be no more than 50 years old. Men must not be over 65 years old and women must not be over 60 years old. The maximum loan term is 30 years. It is recommended that you consult the bank's loan business department for specific loan years.
Personal housing commercial loan to buy a house:
The above two loan methods are limited to employees of units who have paid the housing provident fund, and there are many restrictions. Therefore, people who have not paid the housing provident fund are not eligible. Apply for a loan, but you can apply for a commercial bank personal housing guaranteed loan, that is, a bank mortgage loan.
As long as the balance of your deposit in the lending bank accounts for no less than 30% of the funds required to purchase a house, and you use this as the down payment for purchasing a house, and you have an asset recognized by the lending bank as a mortgage or pledge, or An organization or individual with sufficient repayment capacity can act as a guarantor to repay the principal and interest of the loan and assume joint and several liability, then you can apply for a bank mortgage loan to buy a house.
Reference for the above content: Baidu Encyclopedia-House Purchase Loan