When buying a house, you need to prepare enough funds, especially the down payment. How can I buy a house if I don’t have enough down payment? PChouse will take you to learn more about it.
1. Use the provident fund wisely
For those with a large provident fund balance, you can try to apply for withdrawing the provident fund through the house purchase procedure to repay the advance institution. In this way, the cost is much lower than putting together a down payment, and there is only about one month of short-term interest, which may save a down payment or solve the problem of lack of down payment to a certain extent.
2. Apply for a salary loan
For public institutions and employees with relatively stable incomes, you can apply for a salary loan. Except for public institutions and employees within the establishment, this part of the loan can be used for personal consumption or house purchase, and the loan period is generally shorter than 3 years.
3. Liquidation of marketable securities
If you buy funds, stocks, etc. in your life, you can sell them when you need money. Although you may lose part of the income when you liquidate in a hurry, you can still borrow money. This is also a way to do it if you don’t have money.
4. Use the old house as a pledge to buy a new house
Pledge the old house to obtain a loan to pay the down payment. In actual operation, you can obtain a larger amount of loan. However, this means repaying two loans at the same time, and the interest rate on the mortgage loan will be higher and the loan term will be shortened. It should be noted that the age of the mortgaged house should not be too long.
5. Those with insurance can apply for policy loans
If you have purchased commercial insurance, it is also feasible to get a loan through the policy. Moreover, many insurance companies have policies that allow loans, but there are certain risks and amount limits. You need to consult the insurance company. It should be noted that this will undoubtedly give you an additional loan, and you must measure your repayment ability.