The Spring Festival has just passed, and many people want to catch the first wave of the property market in 2017 and buy a house at the beginning of the year. Buying a house with a loan involves a very critical question: What is the appropriate ratio between the monthly mortgage payment and your income? To put it bluntly, it is the appropriate amount of loan.

Banks also have their own regulations on how much they can borrow. Generally, the monthly income is required to be at least twice the monthly mortgage payment. For example, if your income is 8,000 yuan per month, then your monthly loan payment is at most 4,000 yuan. Banks consider the borrower's repayment ability and control risks by limiting this ratio. It can be said that 50% of monthly income is the maximum limit for loan application. In actual operation, home buyers need to make adjustments based on their own needs and economic conditions.

Case 1:

Xiao Li graduated more than two years ago and plans to take out a loan to buy a house. His monthly salary is about 10,000 and he wants to buy a house worth 1 million. According to the down payment of 20%, the loan The interest rate is 4.9%, and if the loan term is 30 years, the monthly payment is about 4,000 yuan. Considering that he is still single and on the rise of his career, if the monthly mortgage payment accounts for about half of his salary, it will be a small burden for him. As he gets promoted and his salary increases in the future, the impact of the monthly mortgage payment on his life will gradually decrease. .

Case 2:

Xiao Liu and his wife have been married for three years and have been renting a house. After the baby was born, the two of them considered buying a house. When buying a house worth RMB 1 million, the down payment is 20%, the interest rate is 4.9%, the loan term is 30 years, and the monthly payment is RMB 4,000. The combined monthly income of the couple is about RMB 10,000, and the monthly payment accounts for about half of the income. Considering the requirements Raising children is a bit stressful, so they want to pay more down payment and reduce the monthly payment to about 3,000 yuan per month, which is about 30% of the monthly income, so that it will not affect their normal life.

The above two types of people represent two different situations of home buyers. Xiao Li in Case 1 is a young man who is on the rise in his career. Controlling the mortgage loan at about 50% of the monthly income has no impact at all. its life. Xiao Liu in Case 2 needs to consider family expenses and other issues. The monthly mortgage payment accounting for 30% of his income is a comfortable line. Both types of people have different needs. They make their own adjustments based on the warning line (50%) of monthly payment to income ratio stipulated by the bank and choose a loan amount that suits them.

What I want to tell you here is that for singles, with less family pressure and greater room for appreciation at a young age, the monthly mortgage payment ratio can be controlled to be higher; while for married families with children, Living expenses such as education expenses need to be considered, and the proportion of monthly mortgage payments should be appropriately reduced to ensure the quality of life.

In general, you need to consider the following issues when buying a house with a loan:

1. Understand the house purchase and credit policies of your city

This year’s house purchase and credit policies In a state of differentiation, hot cities have restrictions on purchases and loans. Third- and fourth-tier cities and some second-tier cities still maintain the policy of destocking. Therefore, before taking out a loan to buy a house, it is necessary to understand the home purchase and credit policies of the city, such as home purchase qualifications and down payment ratio. wait.

2. Make a financial plan before buying a house

After understanding various policies and housing prices, you must make a financial plan based on your own economic situation. For example, what percentage of the monthly mortgage payment should be acceptable to your income? If the house needs to be renovated, you should also set aside the cost of the renovation.

3. Choose a repayment method that suits you

After confirming the loan, you must choose a repayment method that suits you. Common repayment methods include equal principal and interest and equal principal. The monthly repayment amount of equal amounts of principal and interest is the same, so it is more suitable for families with normal spending plans, especially young people whose financial conditions do not allow excessive early investment. This method can be chosen. For example, civil servants, teachers, etc. whose income and job opportunities are relatively small stable group. Equal-amount principal is more suitable for borrowers with strong repayment ability in the early period, such as people with long working years. Equal principal payments can save more interest than equal principal and interest payments. Home buyers should choose based on their own needs.

As for the issue of monthly mortgage payment and income ratio, we cannot say that it is better to borrow more, and it is not good to borrow less. Instead, it is necessary to let the home buyers reach the "optimal state" and reduce the cost of home purchase. On the one hand, you must also consider what kind of life you want to live after buying a house within the scope of your debt capacity. After all, everyone's family situation and financial situation are different, and what is best for you is the best.

(The above answer was published on 2017-02-21, please refer to the actual relevant current house purchase policies)

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