Whether it is a housing provident fund loan or a commercial loan, compared to the first home purchase, the loan amount and loan interest rate for the second home purchase are more stringent than the first home purchase. How long you can borrow depends on the age of the house and the age of the applicant. Specifically, let’s take a look at the amount and time of a mortgage loan for buying a second home.

How much mortgage loan can I borrow to buy a second home?

The loan policy implemented by commercial loans for the purchase of second homes is that applicants can apply for up to 50% of the appraised value, and the loan interest rate is 1.1 times the benchmark interest rate.

The loan policy for housing provident fund loans for the purchase of second homes is that applicants can apply for up to 80% of the appraised value, but there is an upper limit on the loan amount, which can only be up to 800,000, and the loan interest rate is also 1.1 times the benchmark interest rate. .

How long can I get a mortgage loan to buy a second home?

What are the loan term requirements for commercial loans?

1. It is related to the age of the house, which is generally within 30 years. At the same time, it meets the loan period and the age of the house does not exceed 50 years. There are differences among banks. The specific announcement of the lending bank shall prevail.

2. It depends on the age of the borrower, generally up to 65 years old, and at the same time, the loan period is met and the borrower’s age is not more than 65 years old.

3. The loan term shall not exceed 30 years, and the maximum loan term for commercial housing is 10 years.

4. If the above three points are met at the same time, the one with the shortest loan period shall prevail.

The above is a relevant introduction to the amount and age that can be borrowed with mortgage loans for buying second-hand houses. It is recommended that you consult the lending bank in advance when you need a loan, and make early preparations according to the lending bank's specific announcements and requirements. .