It can also be calculated according to the loan amount. When applying for a loan, there is usually a limit on the loan amount. After determining the maximum loanable amount, the down payment amount that the lender needs to prepare can be obtained by subtracting the loanable amount from the total house price, that is, the mortgage down payment = the total house price-loanable amount.
How is the down payment ratio of mortgage stipulated?
1. Personal housing commercial loan: Generally, the minimum down payment is about 30% of the total house price (the specific provisions may be different in different regions and banks. For example, Shanghai stipulates that the minimum down payment ratio for the first commercial housing loan is 35%.
2. Personal housing provident fund loan: if the construction area of the purchased house is less than 90 square meters (inclusive), the down payment is generally 20% of the total house price; If the building area of the purchased house is more than 90 square meters, the down payment is generally required to be at least 30% of the total house price.
3. If the house you buy is not the first suite, but the second suite, you need to pay more down payment. According to the regulations of the State Council, the minimum down payment is 40% of the total house price (some localities and banks may make some floating adjustments on this basis, for example, some need to pay down 50% to 60%, and some even require a down payment of 70%).
Is it better to pay more or less for the mortgage down payment?
Paying more for mortgage down payment has the advantages of paying more, and paying less also has the advantages of paying less:
First of all, pay more:
1. Choosing an additional down payment on the basis of the minimum ratio can reduce the loan amount. If the mortgage amount is reduced, it will be easier to pass the bank approval. You know, the more money you borrow, the stricter the bank is.
2. Because overpaying the down payment reduces the total mortgage, the repayment principal allocated to each month will also be reduced accordingly. In this way, the bank's requirements for running water provided by customers will naturally be reduced (you know, the bank's running water is generally more than twice the monthly supply).
Second, pay less.
Just pay the minimum down payment, and the pressure will not be great. After all, buying a house is not a small expense, at least hundreds of thousands or even millions. Even if it is only a 30% down payment, it is estimated that it will cost hundreds of thousands or hundreds of thousands. If it exceeds 10%, it is necessary to prepare tens of thousands or even hundreds of thousands of funds. For ordinary people, they can't make up too much money for a while, and the economy will be tense. Everyone should pay attention to the fact that the down payment is generally at least 20% to 30%, and the minimum for buying a second suite is 40%.