Generally, the longest mortgage loan can be 30 years, but according to the regulations of most banks, the borrower's age plus the loan period cannot exceed 65 years. In addition, the specific loan term also needs to distinguish between housing types and loan types.
1, housing category: the longest ordinary housing loan is 30 years; The longest commercial housing loan is 10 year (commercial housing can only apply for commercial loans).
2. Loan category: commercial loan, male under 65 years old and female under 60 years old; Apply for provident fund loans, men are not over 60 years old and women are not over 55 years old.
Is it better to borrow it for a long time or a short time?
1, as appropriate:
No matter what business it is, what suits you is the best. If the mortgage term is long, the monthly repayment pressure will be relatively small. The repayment time is short, and you need to pay a lot of money every month, which is suitable for users with relatively high and stable income, so you need to find a suitable repayment time, not a random repayment time.
2. Income is an important factor in determining the mortgage term:
In modern society, everyone's income is different, some are only 3400 yuan, and some earn tens of thousands a month. The income factor should be considered when choosing the mortgage term. For example, Betty Wong's income is 6,543,800 yuan, so the monthly mortgage repayment cost can be controlled within 3,000 to 6,000 yuan without other liabilities. It is suggested that total liabilities only account for 30%~60% of income. Banks should keep enough family expenses and expenses, and should not excessively restrict family consumption because of monthly repayment. It is beneficial to restrict household consumption appropriately, but it cannot be excessively restricted.
3. Save enough deposits:
The term of the mortgage is at least 10 year, so in order to prevent accidents, at least part of the money should be saved every month, so the term should not be too short, otherwise high principal and interest will be paid every month. I suggest that you keep 3 to 6 times the monthly repayment amount, which is more appropriate. Of course, you can stay more, but you can't stay less, mainly to prevent the risks brought by unemployment and other factors.
Can the mortgage term be changed?
1. You should determine your loan period before you make a loan. Once the loan term is determined, it cannot be changed halfway. But you can repay the loan in advance, that is, you pay off all the money in advance before the loan deadline.
2. It is suggested that the lender apply for prepayment or shorten the service life, which can change the service life of the housing loan. However, it depends on how the loan contract is agreed, whether there is a penalty, and whether there is an early repayment. Usually these problems will be stipulated in the contract.
3. In addition, the change and adjustment of the loan interest rate will also affect the loan term. The loan interest rate is not a fixed value, which will directly affect the mortgage term.
Generally speaking, shortening the repayment time can also save more interest, but not all banks can apply for shortening the loan term to repay in advance, because at present, some banks require that if they repay in advance, this can only reduce the monthly repayment amount and keep the loan term unchanged.
From the point of view of buyers, shortening the loan period is not suitable for everyone. For buyers who choose to repay the principal and interest with equal amount, when the repayment period exceeds half of the loan period, it means that nearly 80% of the interest has been paid off within this period, and the remaining monthly payments are basically principal, so it is of little significance to shorten the repayment period in advance.
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How many years can the house be loaned?
First, the loan term.
1, the longest term of individual housing loan is 30 years, and you can choose 20, 15, 10, 5 years, etc.
2. The longest term of personal commercial housing loan is 10 year;
3. Men under 60 years old and women under 55 years old.
Second, the basic provisions of housing loans
1. loan purpose: it is used to support individuals to buy, build and overhaul houses in cities and towns in Chinese mainland.
2. Loan targets: China natural persons with full capacity for civil conduct and overseas natural persons with the right of abode in Chinese mainland.
3. Loan amount: The maximum amount is 70% of the total price or evaluation value of the house purchased (built or overhauled).
4. Loan term: up to 30 years.
5. Loan interest rate: It shall be implemented in accordance with the relevant regulations of the People's Bank of China.
6. Repayment method: entrusted deduction and counter repayment.
7. Repayment method: If the loan term is within 1 year (including 1 year), the repayment method of one-time repayment of principal and interest shall be implemented; If the loan term exceeds 65,438+0 years, the method of equal principal and interest and average capital repayment can be adopted.
8. Loan guarantee: mortgage, pledge, guarantee, mortgage plus phased guarantee, etc. , you can use one or more loan guarantees.
Three, apply for a loan should be submitted to the information:
1, identity document;
2. Proof of the borrower's repayment ability;
3. Legitimate and effective purchase (construction, overhaul) contracts, agreements or (and) other approval documents;
4. proof of down payment;
5. Loan guarantee materials;
6. Other documents and materials specified by the lending bank.
Housing loans can be borrowed for at least a few years.
The shortest mortgage should be only one year.
However, the one-year loan period is too short and the bank's profit is low. If the customer applies, the bank may not accept it.
When you apply for a mortgage in a bank, most of them are loans for ten years, twenty years and thirty years.
Similarly, customers are not advised to apply for a short loan period when applying for a mortgage. If they have enough money in their hands, they can actually buy a house in full, and there is no need to pay extra.
If the funds are not enough, it will be better to buy a house with a longer loan period. After all, buying a house needs a lot of money. If the loan period is too short, the monthly repayment pressure will be very great, which the average person can't afford.
In the process of mortgage repayment, if you feel that the loan term is long and want to pay off the mortgage as soon as possible, you can also repay in advance and then choose to shorten the term.
Of course, there will be a maximum loan period, which generally cannot exceed 30 years. Many banks will also stipulate that the age of mortgage borrowers plus the loan period cannot exceed 65 years (some are 60 years, some are 70 years).
Mortgage, also known as house mortgage. Mortgage means that the buyer fills in the mortgage loan application form to the bank and provides legal documents such as ID card, income certificate, house sales contract and guarantee letter. The bank promises to grant loans to the buyer after passing the examination, and handle the registration and notarization of real estate mortgage according to the house sales contract provided by the buyer and the mortgage loan contract concluded between the bank and the buyer. The bank directly transfers the loan funds to the seller's account within the time limit stipulated in the contract.
housing loans
Personal housing loan refers to the loan issued by the bank to the borrower for purchasing ordinary housing for personal use. The borrower must provide a guarantee when applying for a personal housing loan. Personal housing loans mainly include entrusted loans, self-operated loans and portfolio loans. entrusted loan
Entrusted loans for individual housing refer to loans issued by banks to individuals who purchase ordinary housing according to regulations, and the source of funds is housing provident fund deposits. Also known as provident fund loans.
Self-operated loan
Personal housing self-operated loans are loans granted to individual buyers with bank credit funds as the source. Also known as commercial personal housing loans, the loan names of banks are different. China Construction Bank is called individual housing loan, and Industrial and Commercial Bank and Agricultural Bank are called individual housing guarantee loan.
Consortium lending
Personal housing portfolio loan refers to a loan issued to the same borrower with housing provident fund deposits and credit funds for the purchase of self-occupied ordinary housing, which is a combination of personal housing entrusted loans and self-operated loans. In addition, there are housing savings loans and mortgage loans.
Mortgage repayment methods: average capital, equal principal and interest, biweekly payment, etc.
Loan amount: 80% of the value of the loanable property after being audited by the bank.
Mortgage down payment: 30% down payment for the first home mortgage loan and 50% down payment for the second home mortgage loan.
Loan life: 30 years for first-hand houses and 20 years for second-hand houses. At the same time, the loan period plus the applicant's age must not exceed 70 years old.
Loan interest rate: the benchmark interest rate of the first home loan for more than five years is 6.55%, and the interest rate of the second home loan is 7.26% when the benchmark interest rate rises 1. 1 times.
way
There are three ways of housing loans, namely, bank commercial loans, provident fund loans and portfolio loans.
Guarantee fee
In order to avoid mortgage risks, general banks need borrowers to provide guarantee certificates from legal persons, other economic organizations or natural persons with sufficient compensation capacity. If you can find friends or relatives who are willing to provide guarantees and have financial strength, you can issue written documents and credit certificates for the bank. If not, you need to go to a professional guarantee company to provide guarantee. The fee paid at this time is the mortgage guarantee fee.
How many years can a housing loan generally be borrowed?
The maximum term of an individual first-hand housing loan shall not exceed 30 years. Bank of China will comprehensively consider the borrower's economic status, age, mortgage, pledge and other factors. For details, please consult the loan handling bank of China.
The above contents are for your reference. Please refer to the actual business regulations.