1. Look at the loan interest rate discount:

When applying for a mortgage, you must first look at the bank's loan interest rate discount. The central bank's benchmark interest rate for loans over 5 years is 4.9%. However, in actual operations, banks in various places will set interest rate discounts based on the general environment of the mortgage market, so that there will be a minimum interest rate and a maximum interest rate. Low interest rates mean less mortgage interest, which is the key to saving money for home buyers and is also the first factor to consider when choosing a bank.

2. Look at the loan discount threshold:

Generally, banks have certain requirements for customers who want to obtain preferential interest rates. Not everyone can enjoy the interest rate discounts. of. This is another criterion for choosing a bank that we want to talk about - look at the loan threshold, which includes the threshold for obtaining interest rate discounts. For example, some banks will require the home buyer applying for a loan to have an account with the bank and have a deposit of more than a certain amount, or they will require the total amount of the house to be loaned and the loan part to be more than a certain amount. Banks also have different requirements for the age of second-hand houses. For example, some banks require that the second-hand houses applied for loans cannot be more than 20 years old, some banks have strict requirements that they cannot be more than 15 years old, and some require that they cannot be more than 10 years old.

3. Look at the bank’s interest rate adjustment methods:

Mortgage interest rates directly affect the economic pressure of borrowers. When the central bank raises or lowers interest rates, mortgage interest rates will be adjusted according to the bank’s interest rates. Differences arise in different ways. At present, there are two main ways for banks to adjust interest rates. One is to adjust interest rates in the following year. That is, starting from January 1 of the second year after the central bank announces the interest adjustment, lending banks will implement the new base interest rate; the other is to adjust interest rates on a monthly basis. The interest rate means that starting from the next month after the central bank announces the interest adjustment, the lending bank will implement the new base interest rate.

4. Look at the repayment method:

We know that there are two main mortgage repayment methods: equal principal and equal principal and interest. Generally speaking, equal principal repayment can save more interest than equal principal and interest repayment, but when applying for a loan, it is certainly worth considering a bank that allows you to make decisions based on your own circumstances.

5. Check whether there are any penalties for early repayment:

As for early repayment, some banks have strict regulations on repayment time. For example, some banks require borrowers to apply for early repayment after 6 months or 1 year of repayment. If the loan is repaid during this period, the bank will charge a certain percentage of liquidated damages. We hope lenders will pay attention to this.

6. Work efficiency:

This mainly depends on the time required for loan approval after the borrower submits the correct materials. This reflects the bank's loan approval efficiency and also It can be said to be work efficiency. Of course, the shorter the time, the better for the lender.

What are the main methods of home purchase loans?

1. The full name of personal housing entrusted loan is personal housing guaranteed entrusted loan. It refers to the housing fund management center entrusting commercial banks to issue housing provident funds using housing provident funds. personal home loans. Housing provident fund loans are policy-based personal housing loans. On the one hand, they have low interest rates; on the other hand, they are mainly provided to low- and middle-income provident fund depositing employees. However, since the interest rate difference between housing provident fund loans and commercial loans is more than 1%, both investors and people who buy houses for self-occupation are currently more inclined to choose housing provident fund loans to purchase houses.

2. Personal housing self-operated loans are loans issued to individual home buyers with bank credit funds as the source. It is also called commercial personal housing loan, and the loan names of each bank are also different. China Construction Bank calls it personal housing loan, and Industrial and Commercial Bank of China and Agricultural Bank of China call it personal housing guaranteed loan.

3. Personal housing portfolio loans refer to loans issued to the same borrower for the purchase of ordinary housing for self-use using housing provident fund deposits and credit funds as sources. It is a combination of personal housing entrusted loans and white business loans. In addition, there are housing savings loans and mortgage loans.