You bought a house and now want to buy a second house. After paying off the loan for the first house, you need to use the first house as a mortgage to buy the second house. , if the first house has not paid off the loan, it cannot be used as a mortgage.

First home loan, second home loan.

The difference between first-home loan and second-home loan

1. Down payment ratio: If the first home is purchased in a city that does not restrict purchases and loans, even if the home buyer purchases it through a commercial If you buy a house with a loan, the down payment ratio is generally about 20%. If you are buying a second home, the down payment ratio for a commercial loan is more than 30%.

2. Loan difficulty: Since many home buyers have encountered loan rejections from banks when applying for loans, it is usually easier to apply for a loan for a first home, but for a second home, it is easier to apply for a loan. Applying for a loan is much more difficult than for a first home, especially when bank funds are tight, it is difficult to apply for a loan for a second home.

3. The difference in interest rates: Nowadays, mortgage interest rates continue to rise in various places. Many people have also discovered that the interest rate increase rate for second homes is definitely greater than that for first homes, so the loan interest rates for first homes and second-hand homes are at different levels. Banks and different cities are different.

The difference between first home loan and second home loan

Criteria for identifying first home home

1. Having purchased a home with a loan, the commercial loan has been paid off, and then the loan can be refinanced Buying a house - considered your first home.

2. I bought a house with a loan and later sold it. I couldn’t find the property through the house registration system, but I could find the loan record in the bank’s credit system, and then I took out a loan to buy a house - it’s considered my first house.

3. After buying a house with full payment, and then buying a house with a loan - it is considered the first house.

4. I bought a house with full payment and later sold it. The property could not be found in the housing registration system, so I took a loan to buy a house again - it is considered my first house.

5. If you have two commercial loan records under your name, all of which have been paid off and sold, and you can provide proof of the sale of the two houses, in this case, when you refinance, it will be counted as the first house.

6. One house under your personal name has a commercial loan that has been paid off, and another house with a provident fund loan has been sold. At the same time, you can provide proof of the sale of the house and apply for a commercial loan before buying a house - it is considered your first house.

7. Between a couple, one party used a commercial loan to buy a house before marriage, and the other used a provident fund loan to buy a house before marriage. After marriage, the two want to take out a joint loan in the name of husband and wife. If the loan has been repaid, banking financial institutions can flexibly control the loan interest rate and down payment ratio based on specific factors such as the borrower's solvency and credit status.

8. Between a couple, one party owned a house before marriage but had no loan record, and the other party had loan records before marriage but no real estate in their name. If they apply for a loan to buy a house after marriage, it is considered their first home.

However, what needs to be pointed out here is that currently, when taking loans to buy a house, some banks will strictly distinguish between "first-time home purchase" and "first home purchase".

Compared with the first home, the standards for first-time home purchases are stricter. That is to say, those who have neither bought a house nor taken out a loan before are considered "first-time home buyers", and the down payment ratio for the home purchase will also be Lower than those who have already purchased a home.

For example, in actual operation, some banks do not conduct specific examinations on "first time" and "first home", and all implement a 20% down payment ratio for first-time home purchases. But strictly speaking, a “first time” mortgage does not mean a “first home” mortgage.

Since the conditions for “first-time” home loans are slightly better than those for “first-time” home purchases, for those who meet the conditions for “first-time” home purchase, loans should be issued in accordance with the “first-time” policy to ensure the “first-time” home purchase. When people buy houses, they can get priority support from housing credit policies.

Criteria for identifying second homes

There are three standards for identifying second homes: approving a house and then approving a loan, approving a house but not approving a loan, approving a loan but not approving a house. Many home buyers are confused. Silly, I can’t tell the difference. Today I will explain the difference between the three standards in detail.

1. House recognition: Check whether the buyer already has registration information in the local house registration system.

2. Loan subscription: Check whether the buyer has registered information on a loan to buy a house in the bank's credit reporting system.

3. Recognize a house and subscribe for a loan: Taking the family as a unit, it depends on whether there is a property under the name and the loan status.

① If you have neither real estate nor loan purchase record, the purchase of a house is considered as the first home;

② If you have a property under your name, or have a loan purchase record, the second home purchase is considered as the second home.

Note: The standards for identifying first and second houses are based on the family unit. A family consists of three types of people: the person, spouse, and minor children.

4. Recognize the house but not the loan: Taking the family as a unit, it only depends on whether there is a property in the name, regardless of the loan situation.

①If you have no real estate in your name, buying a house will be considered your first home;

②If you have a house in your name, buying a second house will be considered your second home.

5. Acknowledge the loan but not the house: Taking the family as a unit, it only depends on whether the loan has been paid off, regardless of the condition of the property in the name.

① If the loan has been paid off, the second house purchase will be considered as the first home;

② The loan has not been paid off, and the second house purchase will be considered as the second house.