The loan interest rate for a first-time home is not fixed. First of all, if you choose a commercial loan, the loan period is within one year and the loan interest rate is 4.35. If the loan term is 1 to 5 years, the basic interest rate is 4.75. If the loan term has exceeded 5 years, the base interest rate for commercial loans at this time is 4.9. Some people meet the conditions for provident fund loans. If they choose a provident fund loan, the basic interest rate is only 2.75 for a loan period of less than 5 years. If the loan period exceeds 5 years, the basic interest rate for a provident fund loan is 3.25.

Is an individual’s first home exempt from property tax?

This depends on the actual situation. If the first residential house is within the family tax-free living area, it can be exempted from real estate tax. Although there is no need to pay real estate tax, when purchasing the first house Deed tax and stamp duty will need to be paid at that time, and the overhaul fund will also need to be paid. For example, you need to pay a deed tax of 1 to 3 yuan for the total house price, a stamp tax of 0.05 yuan, a transaction fee of 3 yuan per square meter, and a surveying fee of 1.36 yuan per square meter. In addition to these, you need to pay a handling fee when registering ownership, which is usually within 200 yuan.

How much can an individual borrow from the Provident Fund for his first home?

The maximum loan amount for the first home is RMB 1.2 million, and the benchmark interest rate is applied. The maximum loan amount for the second home is RMB 600,000, and the loan interest is 1.1 times the benchmark interest rate for the same period.

The process of buying a house with a housing provident fund loan:

1. Preliminary review. First, the housing provident fund management department will conduct a preliminary review of the information submitted by the home buyer, including whether the home buyer has the qualifications to purchase a house. , amount, period, etc., after passing the preliminary review, a "Collateral Review and Assessment Notice" will be issued.

2. Appraisal: The home buyer takes the "Collateral Review and Appraisal Notice" to the prescribed appraisal agency to appraise the value of the house. If you are purchasing an affordable house, there is no need for an appraisal.

3. Review. The home buyer brings the "Evaluation Report" and preliminary review materials to the management office for loan review. If qualified, a "Housing Fund Management Center Guaranteed Entrusted Loan Investigation Notice" will be issued.

Click to view: How to calculate the interest rate for personal first home loans in 2022