Note 1 when buying a house with a loan: Prepare enough down payment

According to the latest mortgage regulations, a first home usually requires a 30% down payment, and a second home requires at least 40%. In addition, considering the interest rate issue, people who want to buy a house with a loan should prepare more funds, and it is best to ensure that the monthly income is more than twice the monthly payment. This can help increase the mortgage approval rate.

Note 2 when buying a house with a loan: Do not use the provident fund before applying for a loan

If the borrower withdraws the provident fund balance before applying for a loan, the provident fund balance in his or her provident fund account will become zero. , so the provident fund loan limit becomes zero. In other words, you cannot successfully apply for a provident fund loan at this time.

Note 3 when buying a house with a loan: Be clear about the repayment method in advance

Currently, there are two main repayment methods, one is the equal principal repayment method, and the other is the equal principal repayment method. The first is the equal repayment method. Each of these two repayment methods has its own advantages. For the equal repayment method, the borrower can control the monthly repayment amount and plan the household income and expenditure.

For the equal principal repayment method, it is suitable for people who have a very strong repayment ability and hope to reduce interest through quick repayment. You can choose the appropriate repayment method by comprehensively considering your own situation.

Note 4 when buying a house with a loan: Do not repay in advance within 12 months from the date of borrowing

It is best not to repay in advance within the last year from the date of loan! Because according to the relevant provisions of provident fund loans, partial early repayment should be made after one year of loan repayment, and the amount returned by the lender should not be less than the six-month repayment amount.

Things to note when buying a house with a loan: Don’t forget to inform the lessee if you rent out the house after taking the loan

If you rent out a mortgaged house during the loan period, you are obliged to use the fact that it has been mortgaged Notify the tenant in writing.

Note 6 when buying a house with a loan: Contact the bank in time when the loan is not repaid

If your repayment ability decreases during the repayment period, remember not to hold on, you can ask the bank for an extension Application for loan period. Some banks will generally accept the application if they find that the situation is true after investigation and confirm that the lender has not defaulted on the loan principal and interest.

Note 7 when buying a house with a loan: Don’t forget to cancel the mortgage after the loan is paid off

If you have paid off all the loan principal and interest, you can present the bank’s loan settlement certificate and mortgage To cancel the mortgage, go to the real estate transaction center in the district or county where the property is located to provide proof of other real estate rights to the property.

Note 8 when buying a house with a loan: Don’t lose the loan contract and IOU

Since the loan term can be up to 30 years, as a borrower, you need to keep your contract and IOU properly. When applying for a home mortgage loan, the loan contract and IOU signed between the bank and you are important legal documents.

Note 9 when buying a house with a loan: Choose the bank that suits you

Choosing the right bank will save you a lot of trouble. When choosing a bank, remember to consider factors such as loan speed, preferential interest rates, early repayment agreements, and interest rate adjustment methods.

Things to note when buying a house with a loan: Pay attention to liquidated damages for early repayment

When applying for early repayment, some banks will charge a certain percentage of liquidated damages, and some have requirements for loan repayment time. Whether it is cost-effective to repay a loan early depends on several comprehensive factors such as loan interest rate fluctuations, personal repayment ability, and home purchase needs. There is no absolute suitability or unsuitability. It should be noted that each bank has different requirements for early repayment, so it is best to consult the lending bank in advance.