First, increase the down payment ratio.

If the down payment ratio increases, it means that the loan amount will decrease, and the monthly repayment amount will naturally decrease. If the down payment ratio is increased, the monthly payment will still be very close to 50% of the wage income, so we might as well extend the loan period. We know that the longest mortgage period is 30 years. For property buyers with low income, a longer loan period can reduce the monthly repayment amount and reduce the repayment pressure.

Second, apply for provident fund loans

If you apply for a commercial loan and the monthly payment accounts for more than 50% of your salary, you can apply for a provident fund loan with lower interest and less monthly payment. If the amount of provident fund loans is not enough, you can also apply for portfolio loans, and try to take advantage of the low interest rate of provident fund loans to reduce the proportion of monthly contributions to wage income.

Third, apply for a mortgage in another bank.

We know that different banks have different mortgage interest rates. We can shop around when applying for a mortgage loan. Perhaps in one bank, the monthly payment accounts for more than 50% of the wage income, but in another bank, because of the low interest rate, it generates less interest, and the monthly payment accounts for less than 50% of the wage income.

Fourth, increase family income.

There are two ways to increase family income. One way is to provide extra income beyond wages, such as bonuses, allowances and copyright fees. You can prove your repayment ability to the bank as a proof of income. The other is the income of other family members, such as pensions. In addition, some valuable property certificates can also improve the success rate of mortgage applications, such as insurance policies and stocks.

Five, find a guarantor

If the household income is very close to 50%, the bank will generally ask the lender to find a guarantor. It should be noted that the guarantor must have a stable job and income. Some banks stipulate that the guarantor must be a public official of government agencies, institutions and other institutions. So if you can find a qualified guarantor, you can apply for a mortgage if your monthly payment exceeds 50% of your salary.