1. Can the mortgage term be changed?
The mortgage term can be changed. But you can't change it directly. You can go to the bank to make a part of prepayment to shorten the service life. Partial prepayment means that when you have spare money, you can directly return tens of thousands of principal to the bank. After prepayment, there are two options: first, the repayment period remains unchanged, and the monthly repayment amount decreases; Second, the monthly repayment amount remains unchanged and the repayment period is shortened. If you choose the second method, you can change the loan term.
Second, what are the factors that affect the mortgage life?
1, lender age
When buying a house, the loan period is different. Generally speaking, the sum of the loan term and the borrower's age cannot exceed the prescribed period (female under 60, male under 65), so young people can often borrow for a longer period, while middle-aged people can buy a mortgage for a shorter period.
2. Room age
The problem of house age generally appears in second-hand houses. According to some bank regulations, the age and loan life of second-hand housing loans should not exceed 40 years. Generally speaking, when an old house applies for a second-hand housing loan, the loan amount will generally decrease with the growth of the house age, and so will the loan period.
3. Property nature
Different properties have different loan life, that is, ordinary houses, commercial projects, factories and other different types of houses have different loan life. The term of long-term loans for ordinary housing is 30 years; For commercial buildings and commercial and residential buildings, the loan period is 10 year; The loan period for private property transfer houses and auction houses is 20 years.
4. Land use years
Different types of houses have different land use years. In the second-hand housing market, how long the land use period will also affect the mortgage period. Under normal circumstances, the maturity date of mortgage loans cannot exceed the land use period (different banks have different regulations).
It should be noted that the land use period and the house age are different. The service life of the land is calculated from the time when the developer takes the land for the record. Therefore, when buying a second-hand house, we must pay attention to how many years are left in the land use period of the purchased house.
5. Lender's repayment ability
When buying a house with a loan, the bank will ask the buyer to provide proof of income, which can directly reflect the borrower's repayment ability and is one of the main reference contents for the bank to decide whether to approve the loan. Usually, the bank will require the borrower's monthly income on the income certificate to be more than twice the sum of his monthly repayment and other liabilities.
These are all questions about whether the mortgage term can be changed. What are the factors that affect the mortgage term? I hope I can help you understand the relevant knowledge of mortgage term change. Please continue to pay attention to more decoration knowledge, decoration company evaluation and decoration cases.