That is, the interest rate of housing commercial loans is discounted according to a certain proportion based on the benchmark interest rate stipulated by the People's Bank of China. For example, the current benchmark interest rate for mortgages with a term of more than 5 years is 6.60%. If a 15% discount is given, the execution interest rate will be 5.61%.

Generally, you must meet certain conditions to enjoy preferential mortgage interest rates. You must be a first-time home buyer, the total income of yourself or your family is more than twice the monthly loan repayment, and you or your spouse have no personal credit history. Bad etc.