The loan term of individual commercial housing shall meet the following conditions:
1. The longest term of personal commercial housing loan is 10 year. Where there are stricter provisions in relevant laws, regulations, regulatory provisions or national policies, those provisions shall prevail;
2 individual commercial housing loan period shall not exceed the remaining use period of construction land occupied by collateral;
3. Personal second-hand commercial housing, the sum of the loan period and the age of the house shall not exceed 30 years in principle (including office space not exceeding 20 years);
4. The sum of the loan term and the borrower's age shall not exceed 65 years old in principle, and the middle and high-end customers who meet the requirements of BOC may be extended to 70 years old. Due to differences in business in individual regions, please consult local outlets for details.
The above contents are for your reference. Please refer to the actual business regulations.
How to calculate the mortgage term
The loan term refers to the period from the time when the lender issues the loan to the borrower to the time when the loan is recovered. The loan term is the term for the borrower to actually use the loan.
I. Calculation of loan life
Housing loans are mainly divided into commercial loans, provident fund loans and portfolio loans, and different loan periods are different.
1, commercial loan
The longest term of commercial loans is 30 years. The maximum term of a new house is 30 years, and the maximum term of a second-hand house is 15 years.
Individual banks require:
1) Lender's age The loan term shall not exceed the legal retirement age of the individual and his spouse (male 65 years old, female 60 years old).
2) Lender's age The loan term is less than 70 years old.
2. Provident fund loans
The longest term of provident fund loans is 30 years, which shall not exceed the legal retirement age of individuals and their spouses (65 years for men and 60 years for women).
Specific provisions of the local provident fund management center shall prevail.
3. Portfolio loan
Portfolio loans and commercial loans have the same term.
The longest loan period for commercial housing is 30 years.
The longest loan period for private property transfer houses and auction houses is 20 years.
For example:
Lao Wang is 50 years old, and his longest loan period can only be 65-50= 15 years.
Summarize the loan period of second-hand houses:
1. The sum of the loan term and the borrower's age shall not exceed 60 years old;
2. The maturity date of the loan cannot exceed the land use period;
3. The age of second-hand houses cannot exceed 15 years;
4. The sum of the service life of the second-hand house and the loan life cannot exceed 30 years.
These four conditions must be met at the same time.
Second, the choice of mortgage period
1, just need people
Just need people to buy a house, and will not choose to sell a house for a long time. Therefore, it is suggested that the repayment period of 15-20 years is more suitable for this kind of people, so that the total interest generated is more reasonable and the economic burden is lighter.
2, just need to take into account the investment crowd.
After buying a house, these people will choose to sell the house or replace the new house at some time in the future. For these people, the term of the loan depends on the rate of return on your investment in other channels.
The return on investment is greater than the interest rate of house purchase loan, and the longer the loan time, the better.
The return on investment is less than the interest rate of house purchase loan, and there are not many investment channels. The shorter the loan time, the better.
3. Pure investment crowd
This should also be seen in two situations:
If house prices will continue to rise, the longer the loan, the better.
If the house price has a tendency to plummet, the shorter the loan time, the better.
How many years can the house be loaned?
First, the loan term.
1, the longest term of individual housing loan is 30 years, and you can choose 20, 15, 10, 5 years, etc.
2. The longest term of personal commercial housing loan is 10 year;
3. Men under 60 years old and women under 55 years old.
Second, the basic provisions of housing loans
1. loan purpose: it is used to support individuals to buy, build and overhaul houses in cities and towns in Chinese mainland.
2. Loan targets: China natural persons with full capacity for civil conduct and overseas natural persons with the right of abode in Chinese mainland.
3. Loan amount: The maximum amount is 70% of the total price or evaluation value of the house purchased (built or overhauled).
4. Loan term: up to 30 years.
5. Loan interest rate: It shall be implemented in accordance with the relevant regulations of the People's Bank of China.
6. Repayment method: entrusted deduction and counter repayment.
7. Repayment method: If the loan term is within 1 year (including 1 year), the repayment method of one-time repayment of principal and interest shall be implemented; If the loan term is greater than 1 year, the repayment method of equal principal and interest and average capital can be adopted.
8. Loan guarantee: mortgage, pledge, guarantee, mortgage plus phased guarantee, etc. , you can use one or more loan guarantees.
Three, apply for a loan should be submitted to the information:
1, identity document;
2. Proof of the borrower's repayment ability;
3. Legitimate and effective purchase (construction, overhaul) contracts, agreements or (and) other approval documents;
4. proof of down payment;
5. Loan guarantee materials;
6. Other documents and materials specified by the lending bank.
What are the rules for the period of buying a house with commercial loans?
1. The longest loan period for individual housing loans of commercial banks is 30 years.
2. For commercial buildings and commercial and residential buildings, the longest loan period shall not exceed 10 year.
3. The term of the housing provident fund loan shall not exceed 30 years.
4. The borrower's age shall not exceed the national statutory retirement age, that is, the male shall not exceed 60 years old and the female shall not exceed 55 years old.
5. The mortgage period shall not exceed the retirement age of the borrower.
Extended data:
Personal commercial housing loan
Personal housing commercial loan is a kind of loan that China citizens apply to the bank for the purchase of commercial housing, and it is a self-operated loan issued by the bank with its credit funds. Specifically, a natural person with full capacity for civil conduct applies to the bank for a commercial housing loan as a loan repayment guarantee when purchasing a self-occupied house in a town in this city, with the purchased property housing (or other guarantee methods recognized by the bank) as collateral. Mortgage loan is a kind of commercial loan.
Proportion of individual housing commercial loans:
1. The maximum loan ratio for second-hand houses is 70% of the low value between the total purchase price and the appraised house price. The loan amount varies according to different banks, subject to the requirements of the lending bank.
2. The longest loan period is 30 years, and the borrower is no more than 65 years old for men and no more than 60 years old for women.
3. The loan interest rate shall be subject to the relevant provisions of the People's Bank of China. See personal housing commercial loan interest rate table.