As one of the big cities, Shanghai’s economy is naturally prosperous, which makes many job seekers dream of settling here. When they have saved enough for a down payment, they often decide to buy a house. With the introduction of real estate policies, Shanghai’s new housing loan policy has also changed. Let’s take a look together!

First, for the first home, banks offer a 90% discount, and the loan interest rate is around 4.41%. However, the interest rates for second homes have been adjusted upward. Except for Shinhan Bank, which has increased by 20%, the other banks have increased by 10%. Second, using provident fund loans, the maximum loan amount for the first home can be 70% of the house price, while the loan amount for the second home is less. 30%; third, for houses with a per capita area exceeding 34.6 square meters, provident fund loans cannot be used; fourth, for combination loans, if the provident fund loan limit is insufficient, commercial loans can be used to supplement it.

If you use a provident fund loan, you must have paid the housing provident fund in Shanghai for half a year before you can apply. Under normal circumstances, the maximum loan amount of personal provident fund can be 300,000 yuan. If there is supplementary provident fund, the loan limit can be increased to 100,000 yuan. If you apply as a family, you can borrow up to RMB 800,000. However, the maximum loan amount for a first home can be 70% of the house price, while the loan amount for a second home is 30% less and can only be 40% of the house price. In addition, the loan period can be up to thirty years for a new house for the first time, and fifteen years for a house that is more than five years old.

At the same time, if the per capita area of ????the house does not exceed 34.6 square meters, if you use a provident fund loan, an individual can only borrow 200,000 yuan. With the supplementary provident fund, the maximum loan can be 300,000 yuan. If it is a second home, the loan interest rate will be ten percentage points higher, which means greater mortgage pressure. In addition, for provident fund loans, if the amount is not enough, you can also use the combination loan model to supplement the amount. Commercial loans are a good choice. However, to apply for this type of loan, you often need to apply to a commercial loan bank.

Finally, if the applicant is purchasing a first home, using a commercial loan, the down payment must not be less than 30% of the house price. If it is a second home or a family with a previous mortgage record, the down payment should account for at least half of the house price. For non-common houses, the down payment should not be less than 70% of the house price. As for the proportion of down payment, it mainly depends on the financial situation of the applicant. A larger down payment means a lower monthly payment.

I hope the above answers will be helpful to you.