There is no fixed general repayment period for buying a house with a loan, usually 20 or 30 years, because the loan period: the longest loan period for a first-hand house is 30 years, and the longest loan period for a second-hand house is 20 years. At the same time, the loan period plus the applicant's age must not exceed 70 years old. But you can check according to your actual situation. How many years do you want to keep it?
Housing loan, also known as housing mortgage loan, is an application form for housing mortgage loan, ID card, income certificate, housing sales contract, guarantee and other legal documents filled out by the buyer to the loan bank. , must be submitted. After passing the examination, the loan bank promises the loan to the buyer, and handles the real estate mortgage registration and notarization 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 loan funds to the sales unit within the time limit stipulated in the contract.
Common sense of loan interest
(1) The interest rate conversion formula for RMB business is (note: common for deposits and loans):
1. daily interest rate (0/000)= annual interest rate (%)÷360= monthly interest rate (‰)÷30.
2. Monthly interest rate (‰) = annual interest rate (%)÷ 12
(two) banks can use the product interest method and the transaction interest method to calculate interest.
1. Accumulate the account balance daily according to the actual number of days, and multiply the accumulated product by the daily interest rate to calculate the interest. The interest-bearing formula is:
Interest = cumulative interest-bearing product × daily interest rate, where cumulative interest-bearing product = total daily balance.
2. Transaction-by-transaction interest calculation method calculates interest one by one according to the preset interest calculation formula: interest = principal × interest rate × loan term, with three details:
If the interest-bearing period is a whole year (month), the interest-bearing formula is:
① Interest = principal × year (month )× year (month) interest rate
If the interest-bearing period is a whole year (month) and days, the interest-bearing formula is:
② Interest = principal × year (month) × year (month) interest rate principal × odd days × daily interest rate.
At the same time, banks can choose to convert all interest-bearing periods into actual days to calculate interest, that is, 365 days per year (366 days in leap years), and each month is the actual number of days in the Gregorian calendar of the current month. The interest-bearing formula is as follows:
③ Interest = principal × actual days × daily interest rate
These three formulas are essentially the same, but because the interest rate conversion is only 360 days a year, when calculating the actual daily interest rate, it will be calculated as 365 days a year, and the result will be slightly biased. Which formula is used specifically, the central bank gives financial institutions the right to choose independently. Therefore, the parties and financial institutions can agree on this in the contract.
(3) Compound interest: Compound interest means adding interest at a certain interest rate. According to the regulations of the central bank, if the borrower fails to repay the interest at the time agreed in the contract, it will be charged with compound interest.
(4) Penalty interest: If the lender fails to repay the bank loan within the prescribed time limit, the penalty interest paid by the bank to the defaulter according to the contract signed with the parties is called bank penalty interest.
(V) loans overdue liquidated damages: penalties for the defaulting party with the same nature as penalty interest.
How many years can I borrow a house loan?
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.
Housing loans can be borrowed for at least a few years.
The shortest mortgage should be only one year.
However, the one-year loan period is too short and the bank's profit is low. If the customer applies, the bank may not accept it.
When you apply for a mortgage in a bank, most of them are loans for ten years, twenty years and thirty years.
Similarly, customers are not advised to apply for a short loan period when applying for a mortgage. If they have enough money in their hands, they can actually buy a house in full, and there is no need to pay extra.
If the funds are not enough, it will be better to buy a house with a longer loan period. After all, buying a house needs a lot of money. If the loan period is too short, the monthly repayment pressure will be very great, which the average person can't afford.
In the process of mortgage repayment, if you feel that the loan term is long and want to pay off the mortgage as soon as possible, you can also repay in advance and then choose to shorten the term.
Of course, there will be a maximum loan period, which generally cannot exceed 30 years. Many banks will also stipulate that the age of mortgage borrowers plus the loan period cannot exceed 65 years (some are 60 years, some are 70 years).
Mortgage, also known as house mortgage. Mortgage means that the buyer fills in the mortgage loan application form to the bank and provides legal documents such as ID card, income certificate, house sales contract and guarantee letter. The bank promises to grant loans to the buyer after passing the examination, and handle the notarization of real estate mortgage registration 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 loan funds to the seller's account within the time limit stipulated in the contract.
housing loans
Personal housing loan refers to the loan issued by the bank to the borrower for purchasing ordinary housing for personal use. 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 loan
Entrusted loans for individual housing refer to loans issued by banks to individuals who purchase ordinary housing according to regulations, and the source of funds is housing provident fund deposits. Also known as provident fund loans.
Self-operated loan
Personal housing self-operated loans 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 individual housing loan, and Industrial and Commercial Bank and Agricultural Bank are called individual housing guarantee loan.
Consortium lending
Personal housing portfolio loan refers to a loan issued to the same borrower with housing provident fund deposits and credit funds for the purchase of self-occupied ordinary housing, which is a combination of personal housing entrusted loans and self-operated loans. In addition, there are housing savings loans and mortgage loans.
Mortgage repayment methods: average capital, equal principal and interest, biweekly payment, etc.
Loan amount: 80% of the value of the loanable property after being audited by the bank.
Mortgage down payment: 30% down payment for the first home mortgage loan and 50% down payment for the second home mortgage loan.
Loan life: 30 years for first-hand houses and 20 years for second-hand houses. At the same time, the loan period plus the applicant's age must not exceed 70 years old.
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 7.26% when the benchmark interest rate rises 1. 1 times.
way
There are three ways of housing loans, namely, bank commercial loans, provident fund loans and portfolio loans.
Guarantee fee
In order to avoid mortgage risks, general banks need borrowers to provide guarantee certificates from legal persons, other economic organizations or natural persons with sufficient compensation capacity. If you can find friends or relatives who are willing to provide guarantees and have financial strength, you can issue written documents and credit certificates for the bank. If not, you need to go to a professional guarantee company to provide guarantee. The fee paid at this time is the mortgage guarantee fee.