Is mortgage loan cost-effective? Let's give an example to analyze it.
Q: What procedures does mortgage to buy a house need? What is the minimum down payment? Is it more cost-effective to mortgage for ten or twenty years? Is it worth buying a second-hand house? I have a mortgage for ten years. What should I do if I have no money in the ninth year?
A: At present, the down payment is generally 30%. In the past, it only needed 20%. Take the contract signed with the real estate agent to the provident fund center for loans, and of course there will be banks to the sales office for loans. You just need to deposit the repayment into the bank account at the beginning of each month. Of course, you can put more money in and deduct as much as you have. This is prepayment. In other words, if you repay 2000 yuan every month, you will deposit 10000 in the bank card, and the bank will directly take 10000 instead of just deducting 2000, which means that you will repay the loan in advance.
Of course, the shorter the mortgage period, the better, so that you can pay less interest. In any case, the loan interest rate is always much higher than your deposit interest rate, and the longer the life, the higher the interest rate.
Buying a second-hand house also depends on the cost performance. Generally speaking, it is mainly a matter of location, and the new house is always far from the urban area.
If you have no money to repay the loan, there will be a guarantee company to help you repay it. The guarantee company must be present at the time of loan, and you need to pay the guarantee fee. If you can repay the loan in advance, you can return part of the guarantee fee to you.
If the annual interest rate of mortgage is lowered, it is not appropriate to repay the loan in advance if there is a big expenditure in the future.
Starting from this year, the annual mortgage interest rate will be lowered by 0.5 percentage points, and the monthly mortgage payment of house slaves will also be reduced, which makes the buyers who originally had the idea of repaying loans in advance suddenly hesitate. On the one hand, they are preparing to repay the loan in advance under the traditional influence of "debt-free", but on the other hand, the repayment pressure that does not seem to exist after the interest rate is lowered has also been alleviated. So, should they repay the loan in advance or continue the monthly payment?
Take the equal repayment method as an example. For example, when you buy a house, you borrowed a 30-year mortgage loan of 654.38 million yuan from the bank. When the annual interest rate of mortgage is 7.05%, the monthly payment is 6686.64 yuan. After New Year's Day in 20 13, the annual interest rate of the mortgage was 6.55%, and the monthly payment of the borrower was 6,353.60 yuan, an average decrease of 333 yuan compared with that before the holiday.