It can be said that buying a house with a loan is becoming more and more popular among home buyers, because home buyers can own their own house with only a certain amount of down payment. Although most people choose to buy a house with a loan, they actually don’t know much about buying a house with a loan. Many people may have this kind of doubt before taking out a loan: How much down payment does it take to buy a house? How many years is the most cost-effective loan period? Let’s take a look at the introduction of this article.

1. How much is the down payment for buying a house?

1. There are regulations on the down payment algorithm for the first new house

In cities with purchase restrictions, as long as it is the first house, the down payment cannot be less than 30% of the total house price. For example, if you want to buy a house For a house worth 1 million yuan, your down payment will be at least 300,000 yuan. But if you are in a non-restricted city, the down payment for a first home is generally 20%. For example, if you are buying a house worth 1 million, the down payment should be at least 200,000.

2. A large down payment for a second home

In cities with purchase restrictions, when purchasing a second home (based on a family unit), the loan down payment ratio should generally not be less than 50% ( The down payment ratio for a second home varies greatly from city to city and is subject to regulations), which means that for a house with a total price of one million yuan, the down payment is at least 500,000 yuan. However, if you buy a second home in a non-restricted city, the down payment is generally 30% of the house price. In other words, for a house with a total price of one million, the down payment is at least three hundred thousand.

3. The down payment for buying a house is calculated based on the loan amount

Although there are relevant regulations, as long as 30% or 20% of the total house price is enough, there is still a loan problem. . For example, for the above-mentioned house with a total price of 1 million yuan, if a provident fund loan is used, the loan amount that the couple can borrow is 450,000 yuan, and then the remaining house payment requires a down payment, that is, a down payment of 550,000 yuan. If you use a commercial loan, you also need to examine your family income and loan repayment ability to see how much money you can borrow. Then the total house price minus the loan amount will require a down payment.

2. What is the most cost-effective loan period?

1. Self-occupancy type

If the loan to buy a house is for self-occupation and you do not intend to sell the property or replace it with a new one for a long time, in this case it is consumption and the loan The shorter the time is within the scope of ability, the better. The editor generally recommends that for self-occupied houses, it is more appropriate for home buyers to choose a repayment period of fifteen to twenty years. The total amount of interest paid is relatively reasonable, and their normal living standards will not be greatly affected. .

2. Taking into account the immediate needs of owner-occupancy

If the house is purchased for owner-occupancy, that is, it is likely to be replaced by a new house or sold in the medium to long term, then the longer the loan term, the better. In fact, this situation is not comprehensive. If you have other financial channels and can get a higher interest rate than a home loan, the longer the loan period, the better; but you are just an ordinary office worker and you don’t have many financial channels. If you just want to buy a house as an investment, in order to save interest expenses, it is recommended that the loan period be as short as possible.

The above is the relevant introduction that the editor has summarized for you today about how much down payment you need to pay to buy a house, and how many years the loan is most cost-effective. I hope it can help you. Finally, the editor reminds everyone that when it comes to issues such as the amount of down payment and the number of years of the loan, you must base your decision on your actual situation, do not put too much pressure on yourself, and choose a plan that suits you.