What's the interest rate on the mortgage loan?
At present, the benchmark interest rate for commercial loans of the central bank is: the benchmark interest rate for one-year loans is 4.35%; The benchmark interest rate for one-year to three-year loans is 4.75%; The benchmark interest rate for three-year to five-year loans is 4.75%; The benchmark interest rate for loans over five years is 4.90%.
It is understood that different banks have different loan interest rates. However, the loan interest rates implemented by major banks are floating on the benchmark interest rate of the central bank. How to float mainly depends on the borrower's personal qualifications. If the borrower's personal qualifications are good, the loan interest rate will be more favorable. If the borrower's personal qualification is not very good, then the bank will raise the loan interest rate to protect its own interests in order to control the credit risk.
How to choose the right bank for real estate mortgage loan
1. Compare loan terms
When a lender applies for a mortgage loan, the bank not only requires the lender's house to meet the loan conditions, but also requires the lender to meet the loan conditions. Such as credit status and personal income. In the loan company to apply for housing mortgage loans mainly depends on the high value of housing, there is no liquidity. Borrowers with poor credit status and liabilities can generally borrow from loan companies as long as they can provide eligible houses for mortgage.
2. Compare loan interest rates.
Compared with many credit loans, the risk of mortgage loans will actually be lower, because the loans handled through banks are still guaranteed. However, at present, the interest rates of mortgage products of various banks are different. Specifically, different regions and banks will be different. Even if it is the same bank, the loan interest rate in different regions will be different.
3. Compare the approval speed
Lenders need to go through many processes to handle mortgage loans, so the loan review time is also very long, and it takes about 20 working days at the earliest to get the loan. The loan company has simple procedures and quick approval, and it usually takes 10 working days to get the loan.
4. Compare loan amounts
Generally speaking, how much you can get by applying for a mortgage loan is related to the assessed value of the house, and the maximum loan amount cannot exceed 70%. This is true of banks and microfinance companies. In the actual examination and approval, the loan company is relatively loose. For the same borrower, the amount approved by the bank may not be as high as that of the loan company.
The above text has introduced the interest rate of real estate mortgage loan and how to choose the right bank for real estate mortgage loan. The interest rate of real estate mortgage loan is naturally determined according to the relevant policies of the state. At the same time, we should pay more attention to the banks chosen for real estate mortgage loans. After all, different banks have different interest rates, different loan quotas and different processing procedures.