What is the interest rate for first-time home loans?

Although first-time home loans can enjoy some preferential policies, the interest on the loan still needs to be paid. Some friends are focused on making money and thinking about making money. I had enough money to buy a house early, but when it came time to actually buy a house, I found that many things were unclear, especially about interest rates. Next, the editor will introduce to you what is the interest rate for first home loans?

What is the interest rate for first home loans

1. In April 2018, the national average interest rate for first home loans was 5.56 , equivalent to 1.135 times the benchmark interest rate, an increase of 0.91 from March, and the average first-home loan interest rate in April last year was 4.52, an increase of 23.01. It is worth noting that from January 2017 to the present, the national average interest rate for first-time home buyers has increased for 16 consecutive months.

2. Among 533 banks in 35 cities across the country, 76 bank branches (branches) have increased their first-time home loan interest rates, accounting for 14.26%, and 26 bank branches (branches) have suspended the acceptance of first-time home loans. For home loan business, in April this year, the average interest rate for first home loans by banks was the lowest at 1.088 times the benchmark; the average interest rate for first home loans by banks was the highest at 1.196 times the benchmark; first home loans by the four major state-owned banks, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, and China Construction Bank The average interest rates have exceeded the benchmark interest rate by 12 levels.

3. The first-home loan interest rate has been raised from the original benchmark interest rate of 4.9 to 1.1 times 5.39. If calculated based on a loan of 1 million yuan and a term of 25 years, the monthly payment will increase from 5787.8 yuan to 6075.4 yuan. Compared with the 15% discount on interest rates before the 317 real estate market new policies, the monthly payment has increased by 1,202.7 yuan.

Are there any discounts for first-time home loans?

Bank loan interest rates are based on a comprehensive evaluation of the loan's credit status, credit situation, collateral, national policies (whether it is a first-time home), etc. To determine the loan interest rate level, if the evaluation is good in all aspects, the mortgage interest rates implemented by different banks are different.

Editor’s conclusion: The above content is an introduction to the relevant content about what is the interest rate for a first home mortgage? I hope it can help you. I believe that after passing the above content, you will have a better understanding of what is the interest rate for a first-time mortgage loan? You can also refer to it if you need it later.

What is the first home loan interest rate in 2022?

The latest home loan interest rate in 2022 (List of first and second home loan interest rates) The latest loan market quoted interest rate (LPR) in 2022 is: 1 year The LPR for the period is 3.7, and the LPR for the period above 5 years is 4.6. Monitoring data on mortgage interest rates in 42 key cities across the country show that the national average interest rate for first-home loans is 5.33, an increase of 2BP from the previous month; the average interest rate for second-home loans is 5.61, an increase of 2BP from the previous month.

. Personal first home loan interest rate policy in 2022: What is it now?

The first home loan interest rate can be as low as 4.4.

On May 15, the central bank and the China Banking and Insurance Regulatory Commission released the latest news: For households that purchase ordinary self-owned houses with loans, the lower limit of the commercial personal housing loan interest rate for the first home will be adjusted to no less than the market quoted interest rate of the corresponding term loan. minus 20 basis points. Calculated based on the latest (i.e. April 2022) LPR quotation of 4.6 for a term of more than 5 years, that is, the first home loan interest rate is not less than 4.6. After this notice, the first home loan interest rate can be reduced to as low as 4.4.

What is the interest rate for a first home loan?

Now basically every family can buy a house, not because there are more people and more power, but because there is an option to buy a house with a loan, and home buyers only need A certain down payment is required, and the remaining house payment can be borrowed from the bank. This policy provides convenience for families with housing needs and insufficient funds. However, if you choose a mortgage loan to buy a house, you will definitely have to pay relevant interest. Generally, if you buy a house, you will need to pay a certain down payment. The loan interest rate for the first home will be lower than that for the second home. So what is the interest rate for the first home loan? Let’s take a look with the editor below.

1. What is the interest rate for a first home loan

1. Commercial loan. The average interest rate for applying for a commercial loan to purchase a first home is around 5.38, which is 5-5 based on the base interest rate of 4.90. It was implemented in 20 years. Of course, there are some differences in the adjustment efforts of local policies and banks; 2. Provident fund loans. Applying for a provident fund loan to buy a first home is fixed. The interest rate for loans of more than five years is 3.25, while for loans of less than five years, the interest rate is 3.25. The loan is subject to an annual interest rate of 2.75.

2. What are the advantages of being recognized as a first-time home?

Each region has different standards for the recognition of first-time homes, which are divided into: recognizing a house and a loan, recognizing a house but not a loan, and accrediting a loan. Judging by not recognizing the house, etc., once it is recognized as a first home, there will be many preferential policies when applying for a loan to buy a house. The first advantage is that the down payment ratio is lower, which is very critical for home buyers who do not have enough down payment. Yes, generally the down payment for a first home only requires about 30% of the total house price.

Secondly, the loan interest rate is also more favorable. Generally speaking, the loan interest rate for the first home is determined based on the benchmark interest rate or an increase of 10%, while the loan interest rate for the second home is determined by an increase of 20%. If it is recognized as a first-time home, the deed tax levied will be less. The deed tax for the purchase of a house below 90 square meters will only be 1.