What is the age limit for home purchase loans

Generally, borrowers must be over 18 years old and have full capacity for civil conduct. The upper age limit for loans is 60 years for men and 55 years for women.

When a borrower applies for a housing mortgage, the current age of the loan period cannot exceed the upper limit of the bank loan, that is: 60 years old for men and 55 years old for women.

The maximum term of provident fund loans is five years before the borrower's retirement age. For example, a 60-year-old man can obtain a loan up to the age of 65; a 55-year-old woman can obtain a maximum loan term before the age of 60.

In terms of second-hand housing loans, banks usually impose certain restrictions on the property rights of the house and the age of the borrower. The maximum limit is the sum of the age of the loan and the age of the borrower.

Risks of mortgage loans

First, when taking a loan, you must understand the bank's repayment method, and then make a decision based on your actual situation. There are currently two categories: equal principal and interest and equal principal and interest. In the former, the interest rate is lower, but the monthly mortgage payment is larger, which brings a huge financial burden to home buyers. The interest rate of the latter will be higher, but for home buyers, the monthly mortgage loan will be smaller.

Second, if you want to apply for a provident fund loan, it is best not to withdraw the deposit from your bank account before applying. If there is no deposit, it means there is no deposit in the bank, and the mortgage cannot be processed, because it can only be repaid in advance after one year of repayment. Therefore, in the first year of the loan, it cannot be repaid in advance. However, this loan requires 13 months of provident fund payments.

Third, before buying a house, you must prepare a down payment. According to real estate policies, the down payment for the first house cannot be less than 30, and the down payment for the second house cannot be less than 40. In addition, the interest on the loan must also be taken into consideration, which means that more funds must be prepared.

The fourth is to issue a bank salary certificate, which is a necessary document for bank loans. It is best to double the salary of the house buyer, so that it can be passed better. In addition, you must keep invoices, such as down payments, loans, etc., and issue invoices when registering property rights. As for the loan procedures and procedures, as well as the loan time, the first thing we have to do is to prepare all the materials before approval. Normally, the bank will give you a loan within three days. Things to pay attention to when it comes to loans, you first need to know the bank’s repayment methods. Secondly, it is how to repay the provident fund. The third point is that before buying a house, you must first come up with the down payment. The fourth is the income voucher related to the unit.