First, the choice of mortgage repayment period

Is the loan term as long as possible, or short-term? This mainly depends on the economic ability and investment preference of buyers.

Generally speaking, the longer the repayment period, the lower the monthly repayment amount and the lighter the burden; On the contrary, the shorter the repayment period, the higher the monthly repayment amount and the heavier the burden. As you can see, extension is also

The main purpose of the payment period is to reduce the monthly repayment, but the longer the period, the better? Let's look at an example. Take a loan of 10,000 yuan as an example. If it is paid off in one year, the monthly repayment will be 865 yuan. If it is paid off within two years,

You only need to repay 448 yuan per month, reducing the monthly repayment by 4 13 yuan, reducing the burden by about 50%. Comparing 19 years with 20 years, 19 is the monthly repayment to 76 yuan, and 20 years is the monthly repayment to 78 yuan, the same.

If it is extended for one year, the monthly burden will only be reduced by RMB, about 2%. It can be seen that in the long run, the monthly repayment amount cannot be greatly reduced, but the interest burden is increased in vain. So the reasonable period is 5-8 years.

How to choose loan term and repayment method

Experts believe that if long-term mortgage loans are restricted,

The monthly payment is correspondingly less, so that more funds can be accumulated to improve the quality of life or make other investments. Moreover, property buyers can also pay off the balance of mortgage loans in advance according to their income, so as to

Avoid long-term interest burden. However, is it better to choose a mortgage loan as long as possible? This is not a good thing. The problem is that the longer the term of mortgage loan, the higher the proportion of interest payment in the total loan.

Moreover, with the increase of income, too long a term will lead to too little monthly payment and bring unnecessary interest expenses. For example, the annual interest rate is 10%

The 30-year loan is 654.38 million yuan, and the monthly interest expense is 878 yuan, and the total interest expense is 2 1.6 yuan, which is more than twice the principal. Similarly, a loan of 15 is 654.38 million yuan, and the monthly interest expense is 0.75 yuan. Although it is more than that in 30 years, the total interest expenditure is only 93,500 yuan, less than that in 30 years. Real estate investment experts believe that taking the annual interest of 10% as an example, the total payment of 10 is 1.59 times of the mortgage, and if 20-year installment is selected, the total payment will be.

The payment amount reached 2.3 times of the mortgage amount. Therefore, buyers should determine a reasonable mortgage loan term according to their own economic income and future budget, and generally choose a loan term of 10 to 15.

Empirical data proves that this is also the case. According to the 1990 survey of second-hand real estate in Hong Kong, the mortgage period of houses under 40 years old is 14.2, and those over 40 years old are1.7 to 13.3.

For people with abundant funds, long-term loans are more favorable. You can borrow long-term funds and make short-term investments abroad. The return of short-term investments is enough to repay long-term loans and there is a surplus.

For property buyers who are short of funds, since there is no more money for other investments except repayment of loans, it is more appropriate to avoid spending too much interest and use short-term loans.

70% to 20% of all loans have the longest term, but it's hard to say it's one. The most important thing is that buyers should choose the loan type that suits them according to their actual situation.

Second, the choice of fixed interest rate and floating interest rate.

buy

When applying for mortgage loan, the choice of interest rate is a factor that cannot be ignored. If you choose a fixed interest rate, the interest rate paid every month during the contract period is the same, but the floating interest rate is different, and the floating interest rate is subject to the market.

The change of interest rate is constantly adjusted. Fixed interest rates are relatively simple. Once you apply for a loan, it will not change. If the market interest rate rises during the contract period, you can also enjoy the benefits of low interest rates. However, if during the contract period,

If the market interest rate drops, the original loan interest rate will not be lowered accordingly, which will cause heavy losses. The floating interest rate is adjusted by the bank according to the change of market interest rate. When the market interest rate rises, the floating interest rate will also rise accordingly. Decline in market interest rate

, floating interest rates fell, but due to

The right to adjust interest rates is in the hands of banks, and property buyers are often very passive. Especially at the time of high inflation, the rise of interest rate may make you unable to bear the burden of interest rate at all. Due to the uncertainty of floating interest rate

Sexual and conservative buyers choose a fixed interest rate.

In fact, regardless of the fixed interest rate or floating interest rate, buyers should compare the total interest paid by the two interest rates during the contract period.

Choose which pays less interest. At the same time, in China, the floating interest rate in the mortgage loan for house purchase has set a clear upper limit index, such as not exceeding 5 percentage points of the benchmark interest rate. There is an upper limit for such indicators.

Floating interest rate, if the initial interest rate is low, the interest rate calculated at that time is more affordable, and buyers can also make bold choices. For example, if the initial interest rate is 5%, then the interest rate with upper limit index is only 10%. if

Your economic ability is constantly increasing, and the inflation rate is not expected to rise in the future, so it is not bad to choose a floating interest rate.

How to choose loan term and repayment method

Therefore, for property buyers, if the pursuit is the stability of interest rates and the security of interest payments, they should choose a fixed interest rate; If you are sure of your economic strength and understand the changing trend of interest rates, you can choose floating interest rates. Of course, it is necessary to compare the interest burden of the two interest rates.

3. Selection of down payment amount

According to the regulations of the central bank, the loan for house purchase should not exceed 70% of the house price, which means you must prepare a down payment of 30%. The purchase price is 6,543,800 yuan, and I will pay 30,000 yuan myself. The purchase price is 200,000 yuan, and the down payment reaches 60,000 yuan. It is suggested that buyers can apply for a 70% mortgage loan. The more loans, the better, and the less out of pocket, the better. Of course, all this should be controlled within your debt capacity.

but

However, everyone has different wealth accumulation, different expectations for future economic income growth, different consumption preferences and investment preferences, so everyone will choose their own reasonable down payment amount. A low down payment is enough.

It means that during the contract period, the payment per installment is high, especially the interest burden is more, but the buyers will have extra funds to improve their quality of life and other investments. If the income of other investments is higher than the loan interest rate, choose a lower one.

It's best to pay by installment. More importantly, because the current housing prices are relatively high and people's income is relatively low, it is difficult to save enough down payment, so it is wise to choose down payment, because at present,

The interest rate of housing loans is also quite low. In Beijing, only 6.75% of the housing in mortgage interest rates is above 15, which is the same as the current one-year deposit interest rate, and is too different from the loan interest rate of commercial banks from 15. Therefore, under the current favorable loan interest rate, you can apply for loans as much as possible. For the general working class, it is easier to pay interest as long as they are not blindly pursuing the bigger the better house.

however

Some people have rich wealth, considerable economic income, no other investment preferences, and are willing to apply for less mortgage loans, but they may also pay more down payment. Because the house itself is productive,

Will help them get more wealth. If you have accumulated a lot of wealth and considerable income, but you have other investment opportunities besides buying a house, then you might as well choose the lowest down payment as possible.

Income will greatly reduce the interest burden. In any case, it is wise to choose the mortgage interest rate and the minimum down payment within your debt capacity.

(The above answers were published on 20 15-07- 17. Please refer to the current actual purchase policy. )

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