When an individual uses a mortgage loan to buy a house, what percentage of the down payment should be made? The current relevant national regulations are that the down payment ratio for the first house is 30%, the down payment ratio for the second house is 60%, and the down payment for the third house is basically suspended.

Personal housing commercial loan: Commercial bank personal housing guaranteed loan, which is also a bank mortgage loan. As long as the balance of your deposit in the lending bank accounts for no less than 30% of the funds required to purchase a house, and you use this as the down payment for purchasing a house, and you have assets recognized by the lending bank as mortgage or pledge, or you have sufficient repayment ability. If an organization or individual acts as the guarantor to repay the principal and interest of the loan and assumes joint liability, then you can apply for a bank mortgage loan.

The workflow for applying for a bank personal housing loan:

(1) The buyer must sign a "Commercial Housing Pre-Sale Contract" with the developer.

(2) Pay more than 30% of the house price.

(3) Go to the housing management department to register for pre-sale.

(4) After completing the pre-sale registration, the buyer holds the original contract and fills out the loan application and loan contract.

Use a "mortgage" loan to purchase a house. Families that cannot take advantage of provident fund low-interest loans can try to take advantage of "mortgage" loans. However, mortgage loans only provide support for certain real estate projects, so only if you choose properly, you can enjoy a mortgage loan. However, compared with provident fund loans, the interest rate is higher. The objects and conditions of mortgage loans are basically the same as provident fund loans. The loan limit is mainly determined by the repayment ability, and the monthly economic income should be higher than twice the monthly loan repayment amount. The loan limit shall not exceed 70% of the house price, and the maximum loan repayment period is 20 years.

Introduction to personal housing loan business

"Personal housing loan" is the most basic housing mortgage business. All banks are carrying out this business. Personal housing loan is a guaranteed Loans can take the form of mortgages, pledges, guarantees, or a combination of the above three guarantee methods.

Conditions that applicants should meet

Banks generally require that the "individual housing purchase loan" target should be a natural person with full civil capacity and meet the following conditions: 1. Have Urban permanent residence or valid residence status; 2. Have a stable occupation and income, good credit, and the ability to repay the principal and interest of the loan on time; 3. If you do not enjoy the house purchase subsidy, no less than 20% of the total price of the house will be used as the first payment for the house purchase. If you enjoy the home purchase subsidy, 20% of the personal share will be used as the down payment; 4. There are assets recognized by the bank as mortgage or pledge, or an organization or individual with sufficient repayment capacity to repay the principal and interest of the loan, and bear Guarantor with joint and several liability; 5. There is a house purchase contract or agreement, and the price of the house purchased is basically in line with the assessed value of the bank or the real estate appraisal agency entrusted by the bank.

Documents required for application

When applying for a loan, the applicant should present a variety of documents, mainly including: 1. Identity documents (resident ID card, household registration booklet or other valid residence documents ); 2. Proof of borrowing income or debt repayment ability issued by the lender’s approval department; 3. Letter of intent, agreement or other approval document for housing purchase that meets the requirements; 4. List of mortgages or pledges, ownership certificates and relevant documents The person with the right to dispose agrees to the mortgage, the pledge certificate and the mortgage valuation certificate; 5. The guarantor agrees to provide written documents of guarantee and the guarantor’s credit certificate; 6. If savings deposits are used as self-raised funds, bank deposit certificates are required; 7. Provident fund is used as For self-raised funds, proof of approval from the housing provident fund management department for the use of provident fund deposits must be provided.

Personal loan limit

The loan limit for a personal home purchase loan shall not be higher than 80% of the value of the house to be purchased as assessed by the real estate appraisal agency or the total actual purchase cost (whichever is Whichever is lower), the loan term can be up to 30 years.

Selection of repayment method

When repaying the loan, the borrower should repay the principal and interest of the loan according to the repayment plan and repayment method stipulated in the loan contract. If the borrower repays the loan early, he should obtain the lender's consent in advance and go through the relevant procedures. There are two ways to repay the principal and interest:

1. If the loan period is one year (including one year), the principal and interest will be repaid in one lump sum upon maturity, and the interest will be paid off along with the principal; 2. The loan period is within 1 year If the loan is over 20 years old, repayment methods such as the equal principal and interest repayment method and the equal principal repayment method can be adopted to repay the loan principal and interest on a monthly basis.

Mortgage pledges and mortgages

The main types of mortgages and pledges that can be used as mortgages for housing purchases are as follows:

(1) Collateral for personal housing loans

1. Real estate and other fixed objects on the ground that the borrower has the right to control independently; 2. State-owned land use rights obtained by the borrower in accordance with the law;

(2) Pledges for personal housing loans include Treasury bills, national key construction bonds, financial bonds, AAA corporate bonds, personal time savings certificates and other securities

(The above answer was published on 2017-04-06. Please refer to the actual current home purchase policies. )

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