Personal housing purchase loan recipients should be natural persons with full civil capacity and meet the following conditions:

1. Have permanent urban residence or valid residence status;

3. No less than 30% of the total price of the house will be used as the down payment for the house;

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4. Have assets recognized by the bank as mortgage or pledge, or a unit or individual with sufficient solvency as a guarantor to repay the principal and interest of the loan and bear joint liability;

5. Have the ability to purchase a house According to the contract or agreement, the price of the house purchased is basically in line with the assessed value of the bank or the real estate appraisal agency entrusted by the bank.

Documents required for application

When applying for a loan, the applicant should produce a variety of documents, mainly including:

1. Identity document (resident ID card, Household registration book or other valid residence documents);

2. Proof of borrowing income or debt repayment ability issued by the lender’s approval department;

3. Letter of intent to purchase a house that meets the regulations, Agreement or other approval document;

4. List of mortgages or pledged properties, ownership certificate, and consent of the person with the right to dispose of the mortgage, pledge certificate and mortgage valuation certificate;

5 .The guarantor agrees to provide written documents of guarantee and the guarantor’s credit certificate;

6. If savings deposits are used as self-raised funds, bank deposit certificates must be provided;

7. Provident funds are used as self-raised funds. If raising funds, proof of approval from the housing provident fund management department for the use of provident fund deposits must be provided.

The latest mortgage interest rate for more than 5 years is 6.55%, and the loan is 60,000. Assuming you repay it in 10 years:

The monthly principal and interest payable: 682.8153

Cumulative interest paid: 21937.83

Cumulative total repayment: 81937.83