1. How much is the down payment for buying a second apartment
In China, the down payment ratio for the second apartment purchased by loan is not less than 4%. The specific down payment depends on local policies. For example, if you apply for a loan to buy a second apartment in Beijing, the down payment ratio cannot be less than 7%. According to the nature of the loan, the down payment ratio is different. For provident fund loans, the down payment is not less than 2%, and for commercial loans, the down payment is not less than 6%.
Second, the loan policy for buying a second home
1. Provident fund loan
Generally speaking, as long as you have paid a stable housing provident fund account for more than 6 months, you can apply for a provident fund loan to buy a house. Applying for provident fund loans is generally based on a term of more than five years, and its interest rate is about 3.87%, which will change according to local policies.
2. Commercial loans
There are basically no other restrictions for applying for commercial loans when buying a second home, except for outstanding loans for the first home and personal credit information. However, the interest rate of commercial loans is generally higher than that of provident fund loans, especially for the second home, which stipulates that the interest rate cannot be lower than 1.1 times the benchmark interest rate of loans. That is to say, if the benchmark interest rate of commercial loans for second homes with a term of more than five years is 6.55%,
Third, how to identify the second suite
If an individual or family owns a house, buying another house belongs to the second suite. Even if an individual who has left the family owns a property, buying it belongs to the second suite. If the loan of the first suite is not settled, the second suite cannot be purchased by loan unless different loan methods are selected respectively.
Editor's summary: The above is the introduction of the down payment for buying a second suite. I hope the content shared by Xiaobian will be helpful for everyone to pay the first payment when buying a second suite.