Chongqing’s first home loan policy

The soaring housing prices in Chongqing have put a lot of pressure on home buyers. Everyone wants to buy a house of their choice, but it is too difficult for ordinary office workers. . Buying a house with a loan is a very popular practice nowadays, and first-time home loans can enjoy many preferential policies. Let’s take a look at Chongqing’s first-time home loan policies!

Chongqing first home loan policy

1. Buying a first home can enjoy preferential mortgage loan interest rates. However, to purchase a first home, the buyer must be over 18 years old and the purchase is 90 square meters or less. Ordinary houses can enjoy a 1% discount on the deed tax rate.

2. The home buyer does not have a separate house in his name, except for the house purchased and settled with his parents.

3. According to the current national preferential policies, you can enjoy a 30% down payment discount when buying a first home. However, this year's continuous increase in bank deposits and interest rates makes it difficult to get a 30% down payment discount.

What is the down payment ratio for the first home in Chongqing?

1. The first home is a family unit and uses commercial loans, which can get 70% of the appraised value of the house. (The appraised price is lower than the market price. For example, if the market price of a house is 1 million, and the appraised price is only 800,000, then you can borrow 70% of the 800,000, which is 560,000, and the remaining house payment of 440,000 will be used as a down payment).

2. If you are buying a house for the first time, you can get a loan of 80% of the appraised value of the house, provided that the house area is within 90 square meters, and 70% if it exceeds 90 square meters. According to the adjustment, currently in cities with no purchase restrictions, only 75% of the first-time home purchase can be borrowed. The provident fund has no rating, and generally only 800,000 can be borrowed.

3. You can also get a discounted interest rate when buying your first home, which is 85% of the base interest rate. Now, when applying for a commercial loan, it not only depends on whether there is a property in the family's name, but also whether it has been purchased before. Loan records.

Editor’s summary: This is a brief introduction to Chongqing’s first home loan policy. I hope it will be helpful to everyone! There are certain preferential policies for first home loans, so you can learn more about the benefits before buying a house. policy.

What are the preferential policies for the first home?

1. Individuals who purchase ordinary houses of less than 90 square meters can enjoy the deed tax rate reduced to 1%.

2. Stamp tax and land tax are temporarily exempted.

3. The lower limit of the house loan interest rate can be expanded to 0.7 times the loan base interest rate, and the low down payment ratio can be adjusted to 20%.

4. The loan interest rates for individual housing provident funds have been reduced by 0.27 percentage points for each level.

5. If a house buyer sells an ordinary house that has been purchased for more than 2 years, the house buyer does not need to pay business tax.

6. House buyers are exempted from housing registration fees for purchasing ordinary houses, as well as housing transfer fees for buying and selling existing houses.

7. When households that own one house and have outstanding home purchase loans purchase a second home, the low down payment ratio for the house will be adjusted to no less than 40%.

8. When using a housing provident fund loan to purchase the first ordinary owner-occupied house, the minimum down payment is 20%; if a family that owns a house and has paid off the loan applies for a housing provident fund to purchase a house again, the minimum down payment is 20%. is 30%.

Preferential policies for first-time home loans

The interest rates for loans less than 5 years (including 5 years) and for more than 5 years are adjusted to 2.6% and 3.1% respectively. The interest rate policy for the second set of personal housing provident fund loans remains unchanged, that is, the interest rates for less than 5 years (including 5 years) and more than 5 years will not be less than 3.025% and 3.575% respectively. In January 2023, the first-home loan interest rate in Zhengzhou and Fuzhou was reduced to 3.8%.