There are preferential policies for first-time home purchase loans. Generally, when buying a first home, the down payment ratio required is 30%, which is preferential compared to second homes and above. The down payment for second homes and above requires 50% or more. The loan interest rate for first-time home purchase loans It is also relatively preferential, usually 10% higher than the base interest rate. For two or more homes, it is generally 20% higher than the base interest rate. There are also preferential policies for deed tax exemptions for first-time home purchases. The area of ??the first home purchased For houses less than 90 square meters, you only need to pay 1% in deed tax, while for houses with two or more units, you need to pay about 3%.

What information do you need to provide for a first-time mortgage loan?

When applying for a mortgage for the first time, you need to provide your personal ID card and household registration book. If you are married, you must provide your own marriage certificate and your spouse's relevant documents. In addition to these, personal employment certificates, income certificates, bank statements, credit reports, etc. must also be provided. Before applying for a loan, it is best to go to the relevant bank for consultation and prepare the information according to the bank's requirements. In addition, you must ensure that the information you provide is true and reliable, and you must not commit fraud. Otherwise, you will be held responsible. If the bank detects false information, it will also cancel the loan qualification.

What are the discounts for first-time home loans?

When purchasing a home for the first time and applying for a mortgage, the down payment ratio required is lower, about 20%, while a down payment of about 50% is required for a second home. When purchasing a first home, the loan interest rate is highly preferential. In most areas, the interest rate is 10% higher than the base interest rate, while the interest rate for a second home loan will be about 20% higher than the base interest rate. When purchasing a first home, you can also enjoy the preferential policy of deed tax exemption.