Repayment methods of portfolio loans:
1. Make full use of provident fund loans to extend the loan term as far as possible
Compared with commercial mortgages, the loan interest rate of provident fund loans is relatively low, so it is welcomed by many borrowers. If we use the housing provident fund as much as possible when applying for portfolio loans and extend the loan period, it will be of great help to reduce the loan cost.
2. Shorten the term of commercial loans
Since the interest rate of commercial loans is higher than the interest rate of provident fund loans, borrowers should shorten the term of commercial loans as much as possible and increase the monthly repayment amount of commercial loans as much as possible (within the family's financial tolerance).
3. Withdraw the provident fund to repay the loan
If your monthly repayment amount structure presents a state of "less provident fund loans and more commercial loans", then after the balance of the provident fund account offsets the monthly repayment amount of the provident fund loans, the remaining balance can offset the commercial loans, which will save a lot of money.
4. Prepayment
If you want to get rid of the status of "house slave" as soon as possible, you can also choose to prepay, but you should give priority to repaying commercial loans in advance, so as to save loan interest. However, it is not suitable for everyone to repay the mortgage in advance, and everyone should choose according to their own actual situation.
2. Can the housing portfolio loan repay the commercial loan first? < P > The portfolio loan can pay off the commercial loan in advance, but different cities have different regulations on it.
in some cities, there are clear regulations on the repayment methods of portfolio loans, such as that the prepayment amount of provident fund loans and commercial loans should be kept at a certain proportion, and not only one of them can be repaid.
in some cities, it is stipulated that if the balance of the provident fund loan account is used for prepayment, the provident fund must be repaid first, and the commercial loan can only be repaid after all the provident fund loans are paid off.
However, if the buyers use their own funds instead of the balance of the provident fund, they can choose to repay the commercial loan with higher interest rate first.
mortgage, also known as house mortgage. Mortgage means that the buyer fills in the application for mortgage loan to the bank, and provides legal documents such as ID card, income certificate, house sales contract, guarantee, etc. The bank promises to issue loans to the buyer after passing the examination, and handles the registration and notarization of real estate mortgage according to the house sales contract provided by the buyer and the mortgage loan contract concluded between the bank and the buyer. The bank directly transfers the loaned funds to the account of the seller within the time limit stipulated in the contract.
housing loan
Personal housing loan refers to the loan issued by the bank to the borrower for the purchase of self-occupied ordinary housing. The borrower must provide a guarantee when applying for a personal housing loan. Personal housing loans mainly include entrusted loans, self-operated loans and portfolio loans. Entrusted loans
Personal housing entrusted loans refer to loans granted by banks to individuals who purchase ordinary housing according to the specified requirements, with housing provident fund deposits as the source of funds. Also known as provident fund loans.
Self-operated loans
Self-operated loans for individual housing are loans granted to individual buyers with bank credit funds as the source. Also known as commercial personal housing loans, the loan names of banks are different. China Construction Bank is called personal housing loans, and Industrial and Commercial Bank and Agricultural Bank are called personal housing secured loans.
portfolio loan
individual housing portfolio loan refers to a loan issued to the same borrower from the housing provident fund deposit and credit funds for the purchase of self-occupied ordinary housing, which is a combination of individual housing entrusted loan and self-operated loan. In addition, there are housing savings loans and mortgage loans.
mortgage repayment methods: average capital, matching principal and interest, biweekly payment, etc.
loan amount: 8% of the property value can be loaned after passing the bank review.
down payment on mortgage: 3% down payment is required for the first home mortgage loan and 5% down payment for the second home mortgage loan.
loan period: the loan period for a first-hand house is 3 years, and that for a second-hand house is 2 years. At the same time, the loan period plus the applicant's age should not exceed 7 years.
loan interest rate: the benchmark interest rate of the first home loan for more than five years is 6.55%, and the interest rate of the second home loan is 1.1 times higher than the benchmark interest rate, that is, 7.26%.
3. Can the commercial loan be repaid in advance for the hybrid mortgage loan of Agricultural Bank of Shanghai?
Hello, the prepayment method of the individual housing mortgage loan of Agricultural Bank of China is as follows:
If prepayment of the mortgage loan is required, the borrower should generally submit a written application to the loan bank one month in advance, and the approval and handling shall be based on the principle of mutual consultation between the bank and you. The collection standard of liquidated damages for prepayment is subject to the loan contract signed between you and our bank. Both borrowers and borrowers can pay off the mortgage in advance in accordance with the relevant provisions of the Agricultural Bank of China and the individual purchase guarantee loan contract. The borrower needs to go to the loan bank to go through the loan settlement formalities with valid identity documents, original house purchase loan repayment card (discount) and personal house purchase loan guarantee contract. After all the individual housing loans are repaid in advance, the bank should handle the loan cancellation, that is, the loan bank will return the relevant legal documents and documents that have been put in storage to the borrower, and the borrower needs to sign for them in writing.
(Answer time: May 9, 222. In case of business changes, please take the actual situation as the standard. )
4. Can the combined loan pay off the commercial loan first?
The combined loan can pay off the commercial loan in one lump sum. Usually, the interest rate of commercial loans is higher than that of the provident fund, and the interest generated will naturally be higher. For this reason, if buyers want to apply for early repayment, they can pay off the commercial loans first, but they need to apply in advance and get the consent of the bank before they can go through the formalities.
portfolio loan means that borrowers who meet the requirements of commercial loans for individual housing can apply for provident fund loans for individual housing at the same time when they apply for commercial loans for individual housing, that is, borrowers can apply for provident fund loans for individual housing and commercial loans for individual housing at the same time with the purchased urban self-occupied housing (or other guarantee methods recognized by banks) as collateral.
loan portfolio is a method by which banks lend money to more than two debtors under the constraint of limited total loans to spread credit risks. Due to the macro factors such as industry characteristics and business cycle, as well as the micro factors such as the correlation of business activities between enterprises, the default dependence in loan portfolio is characterized by cycle correlation and risk spread. The higher the default dependence, the greater the potential risk loss of the loan portfolio.
Personal housing portfolio loan refers to the borrower who meets the conditions of a bank's personal housing commercial loan, and pays the housing provident fund at the same time. While handling the personal housing commercial loan, he can also apply for a personal housing provident fund loan from the bank. That is to say, the borrower takes the purchased urban self-occupied housing in this city as collateral, and the bank issues personal housing loans to the same borrower at the same time to purchase the same set of self-occupied ordinary commercial housing, which is the general term of policy and commercial loan portfolio.
that is, provident fund loans and commercial loans are used at the same time, generally only when personal loans exceed the maximum limit of provident fund loans stipulated by the local authorities.
if you buy a high-grade house, you have to borrow 5, yuan, and the local provident fund management center stipulates that the maximum loan for the provident fund is 4, yuan. In this case, the remaining 1 thousand yuan will be used for commercial loans, and at the same time, the interest can not enjoy the interest of provident fund loans.
portfolio loan refers to a loan issued to the same borrower by the housing fund management department using policy housing funds and commercial banks using credit funds, which is a general term for the portfolio of policy loans and commercial loans. When an individual can't pay the purchase price through the provident fund loan, he can apply for a portfolio loan from the handling bank entrusted with the provident fund loan.
5. Can the portfolio loan pay off the commercial loan in advance?
The portfolio loan can pay off the commercial loan in advance. Usually, in portfolio loans, the loan term, loan date and repayment date of provident fund loans and commercial loans are the same, but it is usually conditional to repay commercial loans in advance, which requires borrowers to borrow for more than one year, and different banks have different regulations, which shall prevail according to specific bank regulations. In addition, in portfolio loans, commercial loans are carried out according to the benchmark interest rate of loans, while provident fund loans are carried out according to the benchmark interest rate of provident fund loans.
what are the disadvantages of portfolio loans?
nowadays, there are very few banks that can undertake portfolio loans. Borrowers who apply for portfolio loans will find that the provident fund management center only cooperates with a certain bank, which has great limitations for borrowers to apply for portfolio loans.
1. red tape
handling a portfolio loan is equivalent to handling a provident fund loan and a commercial loan, with a lot of preparation materials and red tape, and the loan funds can only be released and transferred to the seller's account after the transfer of property rights and mortgage registration, which takes 2 to 3 months. Judging from the operation process of "combined loan", the loan time is too long and the seller is unwilling.
second, there are many handling fees
both the provident fund and commercial loans charge guarantee fees, as well as evaluation fees with different amounts. In addition, if the borrower handles it through an intermediary company or a loan service agency, he still needs to pay a service commission. In this way, portfolio loans are more expensive than pure provident fund loans or commercial loans.
after the borrower applies for a portfolio loan, the part of the commercial loan will be kept in the personal credit information system of the central bank. Assuming that the buyer wants to buy a house again, it will be counted as a second suite. If you use the provident fund loan to buy a house directly, as long as the borrower pays off the loan of the first suite and applies for the provident fund loan to buy a house again, it will still lend according to the standard of the first suite. In addition, the procedures for portfolio loans are complicated, and borrowers need to wait for loans.
Third, the upgrade of home ownership is "implicated"
The disadvantage of portfolio loan is that the borrower will be "implicated" by the second suite policy when upgrading home ownership. In the portfolio loan, the commercial loan will be kept in the central bank's credit information system, and it will be recognized as two sets when the home is upgraded. The housing will be sold after the provident fund loan is paid off, and the second use of the provident fund loan will be counted as the first housing, which will be implemented according to preferential policies.
6. Can the portfolio loan repay the commercial loan in advance?
The portfolio loan can repay the commercial loan in advance. Early repayment includes three situations: full repayment in advance, partial repayment in advance with the loan term unchanged, and partial repayment in advance with the loan term shortened. The loan bank can only accept the application for early repayment of personal loans from the second repayment month.
"Portfolio loan refers to the borrower who meets the conditions of individual commodity housing loan and pays housing provident fund at the same time to meet the requirements of provident fund loan. In addition, when applying for personal housing commercial loans, you can also apply for personal housing provident fund loans, which is called portfolio loans. The provident fund loan of portfolio loan is implemented at the interest rate of individual housing provident fund loan, and the loan part of portfolio loan is implemented according to the personal housing commercial loan standard of the lending bank.
prepayment loan portfolio is a method for banks to lend money to more than two debtors under the constraint of limited total loan amount to spread credit risk. Due to the macro factors such as industry characteristics and business cycle, as well as the micro factors such as the correlation of business activities between enterprises, the default dependence in loan portfolio is characterized by cycle correlation and risk spread. The higher the default dependence, the greater the potential risk loss of the loan portfolio.
Personal housing portfolio loan refers to the borrower who meets the conditions of a bank's personal housing commercial loan, and pays the housing provident fund at the same time. While handling the personal housing commercial loan, he can also apply for a personal housing provident fund loan from the bank. That is to say, the borrower takes the purchased urban self-occupied housing in this city as collateral, and the bank issues personal housing loans to the same borrower at the same time to purchase the same set of self-occupied ordinary commercial housing, which is the general term of policy and commercial loan portfolio.
that is, provident fund loans and commercial loans are used at the same time, generally only when personal loans exceed the maximum limit of provident fund loans stipulated by the local authorities.
Precautions
First, don't forget to surrender
After the borrower repays all the loans in advance, the original individual housing loan home insurance contract is also terminated in advance. According to the relevant regulations, the borrower can bring the original insurance policy and proof of paying off the loan in advance and return the premium paid in advance to the insurance company on a monthly basis.
Second, don't forget to refund the tax
Besides, don't forget to go through the tax refund formalities at the tax department. When you buy a commercial house, all the family members who can be refunded should be written into the house purchase contract as real estate owners, and after signing the contract and paying the house price, you should apply for "deduction of personal income tax paid by the buyer" and obtain my "general tax payment book".
3. Don't prepay in the first year
It should be noted that you should not prepay in the first year of borrowing. According to the relevant provisions of provident fund loans, part of the prepayment should be made after one year of repayment, and the amount returned should exceed the repayment amount of six months.
7. if you want to repay the loan in advance, can you repay the commercial loan first?
if you want to repay the loan in advance, you can give priority to the commercial loan.
You can choose this by yourself. The interest rate of commercial loans is relatively high, so you can give priority to settlement.