Indeed! When buying a house with a loan, the repayment method and repayment time should be determined according to your own ability. Under normal circumstances, neither the intermediary nor the bank will tell you whether the mortgage is "the longer the better" or "the shorter the better", but it depends on your own choice. So is it better to choose the long-term or short-term mortgage time? Let's listen to the analysis of bank personnel. Many people choose the wrong person to give money for nothing.
First, you buy a house for investment.
If you buy a house purely for investment and you are speculating in real estate, then if you have sufficient funds, first consider buying a house in full. Buying a house in full is simple and it is more convenient to change hands. And you buy a house to make money by investing. It is definitely to reduce the cost of buying a house and the cost of holding real estate as much as possible, and strive for maximum benefits. Loans to buy a house have a large interest expense, which is often not the best choice for real estate speculators. There is no question of considering the length of mortgage when buying a house in full, so I won't discuss it here.
Let's discuss it below. If you are a real estate speculator, you can't buy a house in full because you need to reserve part of the capital turnover, so you can consider the "even-cost" repayment method first. Because this way saves a lot of interest than the "equal principal and interest" repayment under the same conditions.
For example, the mortgage amount is 6,543,800 yuan, the repayment period is 30 years, the mortgage interest rate is 5.88%(LPR+ 1.03), the interest of "equal principal and interest" repayment method is about1130,700 yuan, and the total interest of "equal capital" repayment method is about.
If you can't choose the "equal principal and interest" repayment method, you should choose the "long loan and short repayment" method. That is, you can try to choose a longer repayment time, for example, you can apply for 30 years, and then try to pay off the mortgage in a short time (for example, within 2 years) when the funds are withdrawn, so as to maximize the income and pay less bank interest.
Second, you just need to buy a house to live in.
If you just need a loan to buy a house, then you should choose the repayment method and repayment period according to your own economic situation and repayment ability.
For example, if you are a high-income group and have a stable job, and buying a house is a housing provident fund loan, the longer the loan time, the better, because the mortgage interest rate of the housing provident fund is the lowest among all loans, and the interest rate is less than the currency inflation rate. It is estimated that only a fool will pay off the mortgage in advance. Or if you buy a house as a commercial loan and the mortgage interest rate has gone up a lot, then it is better to choose the "even-cost" repayment method, which will save more interest; If you can't choose "average capital" for repayment, the "long loan and short repayment" method of "equal principal and interest" is also a good choice.
If you are just in need of an average income, buying a house is a commercial loan, and the down payment on buying a house has made you stretched, then you can consider the repayment method of "equal principal and interest" and choose a longer repayment time, so that the pressure on housing supply will be less. However, the longer the loan period, the more the total interest expense, and vice versa.