The most confusing thing for a novice home buyer is the loan issue. For example, how much is the loan, what is the loan interest rate, which repayment method is more cost-effective, etc.

Of course, in addition to these important knowledge points, there are also some things you must not do. Today’s guide to buying a house will focus on explaining them to you.

Basic knowledge point 1: How much is the down payment for a mortgage?

According to the new policy released in February last year, the minimum down payment for first-time home purchase loans in non-purchase-restricted cities is 20%. As many cities have restarted purchase and loan restriction policies, the number of cities and banks that implement the minimum down payment of 20% has dropped sharply. The highest down payment for a first home is 3.50% in Beijing and Shanghai, while previously the highest down payment in the country was only 30%.

The minimum down payment for a second home is 30%, and the highest is in Suzhou (urban area, including Wujiang District, Kunshan City, and Taicang City) and Nanjing (main urban area, excluding Liuhe District, Lishui District, and Gaochun District) , reaching 80%. And banks will fluctuate down payment ratios based on market conditions, and this situation will continue in 2017.

Basic knowledge point 2: What is the mortgage interest rate?

The current benchmark interest rate for mortgage loans is 4.90, and each bank offers different interest rate discounts for first-time buyers. In the first half of last year, the overall credit policy was relatively loose, and there was a 30% discount. As many cities resume purchase and loan restriction policies, the trend of preferential mortgage interest rates has tightened. Banks may reduce preferential discounts or raise the threshold for obtaining preferential interest rates.

Data shows that as of December 20, 2016, the lowest mortgage interest rate is 20% off that of Tianjin Bank in Tianjin. However, the requirements must be high-quality customers who meet the bank's rating. It is not easy for ordinary home buyers to obtain discounts. .

The overall trend of mortgage interest rates in 2017 will be tightening. For example, at the end of 2016, there was news that starting from January 1, 2017, Beijing will implement a minimum 10% off mortgage interest rate. Finally, Beijing This policy was indeed implemented.

In fact, Beijing is the third city after Shenzhen and Shanghai to have unified standards for preferential interest rates for first-time home buyers. Therefore, it can be predicted that more cities will launch similar policies in 2017, and the interest rate discounts of less than 10% off for first-time buyers in many cities are likely to disappear.

Basic knowledge point 3: What are the repayment methods?

From the current point of view, equal principal and interest and equal principal are the most common repayment methods.

Let’s talk about equal principal and interest first.

Equal repayment of principal and interest means that the principal and interest of the loan are repaid equally in equal amounts every month during the loan period. That is, the total principal amount of the mortgage loan and the total interest principal amount are added and evenly distributed to each period of the repayment period. In the middle of the month, more people are currently choosing this repayment method.

Equal repayment of principal and interest is more suitable for families with relatively stable incomes who buy a house to live in and whose financial conditions do not allow excessive initial investment, such as civil servants, teachers and other people with stable incomes.

Let’s talk about equal amounts of principal.

Equal principal repayment refers to repaying the loan principal in equal installments every month, and the loan interest decreases monthly with the principal. That is, the principal is distributed to each month, and the interest between the previous repayment date and the current repayment date is paid in full.

Equal-amount principal is suitable for people with high income and strong repayment ability and plans to repay early.

In short, 2017 will be a year of regulation. Friends who are planning to buy a house should pay attention to the latest property market policies and purchase a house rationally based on their own economic conditions. After all, buying a house is a big deal, so don't affect your normal life.

Although it is cost-effective to buy a house with a loan, there are many things that you must not do, otherwise the loan may not be approved, or the approved amount may not be high, so you must be careful.

What specific taboos should we pay special attention to?

Taboo 1: Do not use the provident fund before applying for a loan

Some borrowers want to withdraw the balance of the provident fund to pay for the house before applying for a loan. In this case, the provident fund in the provident fund account will The balance is zero. According to the regulations of some cities, the provident fund loan limit is zero, which means that you will not be able to apply for a provident fund loan.

Taboo 2: Do not repay in advance within the first year of the loan

Because according to the relevant provisions of provident fund loans, partial early repayment should be made after one year of repayment of the loan, and you must repay the loan in advance. The amount should exceed the 6-month repayment amount.

(The above answers were published on 2017-01-16, please refer to the actual current relevant home purchase policies)

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