Interest on second-home provident fund loans: Bank of China, China Banking Regulatory Commission and Ministry of Housing and Urban-Rural Development jointly issued a document to reduce the down payment ratio of second-home commercial loans from 60% to 40%, and the down payment ratio of first-home provident fund loans to 20%.
If the first home loan has been settled, the down payment ratio of the second home loan will be reduced to 30%. In addition, the Ministry of Finance will also exempt individual commercial housing sales business tax from the previous five years to two years.
Interest rate of second-home commercial loan:
Benchmark interest rate for commercial loans: 5.90%.
In the new mortgage policy, if you have 1 house but the loan has been settled, you can apply for a loan to buy a "second house", and the loan interest rate can be 30% off the benchmark; At present, the house 1 and mortgage are not settled. If you refinance to buy a "second house", the lowest interest rate will go up 10%.
Interest rate of second-home provident fund loan:
Loan term: 3.85% within 5 years (inclusive); More than 5 years, 4.40%.
At present, the benchmark interest rate for the first home loan and the benchmark interest rate for the second home loan of the provident fund is 1. 1 times. The increase is related to the qualifications of borrowers and other factors.