Bian Xiao believes that the longer the loan term, the better, such as the advantages of low repayment pressure and early repayment, but unfortunately this method is not suitable for everyone. Don't believe it? Let's look down together.
First of all, the longer the mortgage term, the better.
1, with low repayment pressure.
The first advantage of a long loan period is that the pressure is low. At this stage, young people usually buy houses, many of which are for marriage. Nowadays, young people have short working hours, little savings and a lot of pressure to repay their mortgages. In this case, the choice of loan term determines whether they will spend their future life under high pressure.
The same loan is 654.38+0 million, which is also 654.38+00 years, 20 years and 30 years. In the same period, the monthly payment amount is different. If you think about it briefly, you will know that the longer the loan term, the less the monthly payment.
For most buyers who buy a house with loans, this is a thing that can alleviate the financial pressure and life pressure. After all, besides monthly payment, there are many places in our life that need financial support.
2. The longer the loan term, the more suitable it is to repay the loan in advance.
Under normal circumstances, the repayment of the loan is to repay the interest first and then the principal, so the longer the loan term, the more suitable it is to repay in advance. Because the interest has been paid almost in advance, you can choose to pay off all the loans in advance when you have money in the future, which can save a lot of interest.
3. Inflation leads to the depreciation of coins, and the longer the loan term, the more cost-effective.
After the loan, basically the monthly repayment amount becomes a clear thing, and there will be no major changes.
In the environment of inflation, the devaluation ability of currency is far greater than the value of monthly supply. Maybe the monthly payment of 5,000 yuan in January will only be equivalent to 3,000 yuan in three to five years or ten years. The longer the loan, the more interest, but from the perspective of repayment, this monthly payment is earned many years later.
Second, is such a loan term suitable for everyone?
This is not absolute, and the loan period still depends on your own situation. First of all, banks will examine the qualifications of borrowers when approving mortgages, including individual repayment ability, that is, the ratio of monthly supply to income.
If this ratio is too high, it will definitely affect daily expenses and quality of life, but fortunately, this can be changed by adjusting the loan term. It is generally required that the monthly payment should not exceed 50% of the income.
Age will also affect the loan term. Generally speaking, the age of the lender plus the loan period cannot exceed 65 years old. Because people's working ability and income will change with their age, banks have strict restrictions when determining the loan term to ensure that borrowers can repay on time.
If the borrower is 40 years old at the time of loan, it is impossible to reach 30 years. In other words, if the borrower is too old, the loan period is unlikely to be long to some extent.
Therefore, the length of the loan period is determined by many factors and should be carefully considered in the selection process. Realizing the balance between mortgage and income will not increase its burden.
(The above answers were published on 20 18-02-02. Please refer to the current actual purchase policy. )
Comprehensive and timely real estate information, click to view.