Definition of individual housing loan:
Personal housing loan is a kind of consumer loan, which refers to the loan issued by the lender to the borrower for the purchase of ordinary housing for personal use. When a lender issues a personal housing loan, the borrower must provide a guarantee. If the borrower fails to repay the principal and interest of the loan at maturity, the lender has the right to dispose of its collateral or pledge according to law, or the guarantor shall be jointly and severally liable for repaying the principal and interest. The loan object is a natural person with full capacity for civil conduct. The loan conditions are that urban residents use it to buy ordinary houses for their own use, have a house purchase contract or agreement, have the ability to repay the principal and interest, have good credit, and have a down payment of 30% of the funds needed for house purchase and a loan guarantee recognized by the bank.
Brief introduction of mortgage loan:
Mortgage loan refers to a loan business conducted by mortgage. For example, housing mortgage loan is a personal housing loan business in which buyers use the purchased housing as collateral and the real estate enterprises that purchase the housing provide regular guarantee. The so-called mortgage means that the mortgagor transfers the property rights of the house to mortgage, and the beneficiary acts as the repayment guarantor. After the mortgagor pays off the loan, the property rights involved are immediately transferred to the mortgagor, and the mortgagor enjoys the right to use in this process.
Definition of annual interest rate:
The annual interest rate refers to the deposit interest rate for one year. The so-called interest rate is the abbreviation of "interest rate", which refers to the ratio of interest amount to deposit principal or loan principal in a certain period of time. Usually divided into annual interest rate, monthly interest rate and daily interest rate. The annual interest rate is expressed as a percentage of the principal, the monthly interest rate as a percentage, and the daily interest rate as a percentage. Interest = principal x interest rate x time.
When the economic development is in the growth stage, the investment opportunities of banks increase, the demand in loanable funds increases and the interest rate rises; On the other hand, when the economic development is depressed and the society is in a depression period, the willingness of banks to invest decreases, the demand for loanable funds naturally decreases, and the market interest rate is generally low.