Many people choose to borrow money to buy a house, and property mortgage is the most commonly used loan method. So what's the interest on the mortgage? How to choose the right bank loan? Next, Bian Xiao will introduce relevant contents to you. Let's have a look.
How much is the mortgage interest?
The mortgage interest of each bank will be different, and the interest rate is floating on the basis of the benchmark interest rate. At present, the benchmark annual interest rate of banks is 4.35% for less than one year (including one year), 4.75% for one to five years (including five years) and 4.90% for more than five years. We take China Merchants Bank and China Bank as examples:
1. The housing loan amount of China Merchants Bank is calculated at 70% of the appraised housing price, and the loan period cannot exceed 30 years. The general loan interest rate only rises 10% on the basis of the benchmark interest rate of the central bank in the same period.
2. The mortgage loan of China Bank is only for houses with the age below 15 and the house area above 85 square meters. The loan amount is related to the age of the house. Generally, a house of five to ten years old is 50% of the appraised price, and the loan interest rate is the benchmark interest rate of the central bank during the same period. If the ten-year loan term is taken as an example, the interest rate is 7.83%.
How to choose the right bank loan
1 First, compare the loan conditions of various banks. When the house is mortgaged, the bank should not only look at whether the house is qualified, but also review the borrower's credit status and personal income.
2. Compare the loan interest rates of various banks. The risk of mortgage loan will be lower than that of credit loan, because there is a house as collateral protection. However, the mortgage interest rate of each bank is different, so borrowers should compare the loan interest rates of various banks and choose the bank with lower interest rate.
Summary: The above is the related content of mortgage interest and how to choose the right bank loan introduced by Bian Xiao, hoping to provide reference for friends in need.
What's the mortgage interest rate?
Interest on mortgage loan of real estate license: 6% a year. The benchmark interest rate for bank loans over five years is 6. 14%. Ten years is 6.55%.
Real estate mortgage means that the property owner takes the deed of house as the mortgage and obtains the loan to pay interest on schedule. The property right of the house is still managed by the property owner himself, and the creditor only takes interest on schedule and has no right to manage the house. After the loan is paid off, the property owner will terminate the mortgage of the deed.
What's the interest rate of bank mortgage?
Legal subjectivity:
The benchmark annual interest rate of housing mortgage loan is 4.35%, floating 10%-50%. The requirements of real estate mortgage loan for real estate: the property right of the house should be clear, meet the listing and trading conditions stipulated by the state, and can enter the real estate market without other mortgage; The age of the house (calculated from the date of completion of the house) and the loan period cannot exceed 40 years; Mortgaged houses are not included in the local urban reconstruction plan, and there are real estate licenses and land certificates issued by real estate departments and land management departments. The requirements of real estate mortgage loans to borrowers: having a legitimate occupation and a stable source of income, and having the ability to repay the principal and interest of loans on time; No illegal acts and bad credit records; Being able to provide effective pledge guarantee of rights recognized by banks or legal and effective real estate as mortgage guarantee or a third-party guarantee with compensatory ability; Open a personal settlement account of China Industrial and Commercial Bank, and agree that the bank will deduct the loan principal and interest from its designated personal settlement account; Other conditions stipulated by the bank. Application materials for real estate mortgage loan: real estate license (real estate license and land certificate in housing mortgage bank loan must be mortgaged to the bank); Identity cards of the obligee and his spouse; Household register of the obligee and spouse; Marriage certificate of the obligee (marriage certificate or unmarried certificate issued by the Civil Affairs Bureau); Income certificate (this certificate has a great influence on the success of mortgage interest rate and maximum amount. ); If the owner of the real estate license has minor children, please provide a birth certificate; If the property has a bank loan, please provide the original loan contract and the latest bank statement; In order to improve the pass rate of mortgage loan, please provide other family property certificates (such as other real estate licenses, stocks, funds, cash passbooks, vehicle driving licenses, etc.) as far as possible. )
Legal objectivity:
Article 11 of the Interim Measures for Personal Loans The application for personal loans shall meet the following conditions: (1) The borrower is a People's Republic of China (PRC) citizen with full capacity for civil conduct or an overseas natural person who meets the relevant provisions of the state; (2) The purpose of the loan is clear and legal; (3) The amount, duration and currency of the loan application are reasonable; (4) The borrower has the willingness and ability to repay; (5) The borrower's credit status is good and there is no significant bad credit record; (6) Other conditions required by the lender.