As we all know, the longer the life of the mortgage, the more interest you need to pay, and the greater the pressure to repay the mortgage. Therefore, many people who apply for housing mortgage loans think that the shorter the loan period, the better. In fact, this is a wrong understanding. Applying for housing mortgage loan depends on the repayment ability of the applicant, and the monthly mortgage amount of housing mortgage loan is required not to exceed 1/2 of the applicant's monthly income. The shorter the mortgage loan application time, the higher the monthly repayment amount. Therefore, there is no fixed answer to how many years it takes to apply for a housing mortgage loan, which mainly depends on the applicant's repayment ability.

In addition, when applying for housing mortgage loan, in addition to paying attention to the loan term, the repayment method of housing mortgage loan also determines the "cost performance". There are two repayment methods of mortgage loan: equal principal and interest and average capital. In the case of the same loan term, amount and interest rate, the total interest paid by the average capital will be less than the equal principal and interest. However, this repayment method has great repayment pressure at the initial stage of the loan.

Therefore, how long should the repayment period of housing mortgage loan be chosen or should it be chosen according to everyone's repayment ability. After all, what suits you is the best.