The advantage of the decline in mortgage interest rates is that the cost for users to apply for a mortgage is reduced. For the same loan amount and loan period, users will pay less interest. Therefore, when mortgage interest rates drop, this period is more suitable to apply for a mortgage. When the mortgage interest rate increases, the mortgage interest will increase, and the repayment burden will also increase for users.

Of course, for users who have applied for a mortgage, as long as they choose the LPR floating interest rate, the mortgage interest rate will also fall when the LPR drops.

How to check the bank’s mortgage interest rate

You can check the bank’s interest rate on the bank’s mobile customer service. First, under Internet conditions, open any bank mobile customer port installed on your mobile phone. In the future, log in to your account, browse the page, search for special icons for deposits and loans, and inquire about lending interest rates.

In order to inquire or apply for a loan more effectively, you can directly go to the bank window for consultation. Take Industrial and Commercial Bank of China as an example: the ICBC first-hand housing loan application process includes six steps: application, loan approval, signing of contract, and loan issuance. , on-time repayment and loan settlement. Based on the information you submit, the bank will make a comprehensive assessment to determine your mortgage interest rate.

The base interest rate is adjusted by the central bank and is the same for all central banks. However, the interest rate rises differently for each bank based on the qualifications of the lender and the specific conditions of the collateral.

How to buy a house with a loan

1. Housing provident fund loan

For residents who have participated in paying the housing provident fund, when buying a house with a loan, they should choose housing first Provident fund low-interest loans. Housing provident fund loans have a policy subsidy nature, and the loan interest rate is very low, not only lower than the commercial bank loan interest rate during the same period (only half of the commercial bank mortgage loan interest rate), but also lower than the commercial bank deposit interest rate during the same period.

2. Personal housing commercial loan

The balance of the deposit in the lending bank shall account for no less than 30% of the funds required to purchase a house, and this shall be used as the down payment of the house. If you have assets recognized by the lending bank as mortgage or pledge, or a unit or individual with sufficient repayment capacity as a guarantor to repay the principal and interest of the loan and bear joint liability, you can apply for a bank mortgage loan.

3. Personal housing portfolio loans

The maximum limit of provident fund loans that can be issued by the housing provident fund management center is generally 100,000 to 290,000 yuan. If the purchase price exceeds this limit, the shortfall will be required. Apply for a commercial housing loan from the bank. Together, these two loans are called a portfolio loan.

This business can be handled uniformly by the real estate credit department of a bank. Portfolio loans have moderate interest rates and larger loan amounts, so they are often chosen by borrowers.