Whether a home loan is a good deal depends on your financial situation at the time of the house. If you can buy a house in full and don't need a loan, you will save high loan interest. If you are eager to buy a house but do not have the ability to pay the full amount, then buying a house with a loan is undoubtedly a cost-effective option.

1. Advantages of buying a house with a loan

1. Less capital investment

The advantage of buying a house with a loan is that you can buy a house first with less money.

2. Capital activities

From an investment perspective, home loan buyers can divide their funds, such as taking out loans to buy houses for rent, renting out loans, and then buying other projects. In this way, the funds More flexible to use.

3. Less risk

A mortgage loan is to borrow money from the bank to buy a house. In addition to the home buyers caring about the advantages and disadvantages of the house, the bank will also review it. In this way, the insurance of buying a house will be improved.

2. Disadvantages of buying a house with a loan

1. Carrying debt. Speaking of shortcomings, first of all, there is a lot of psychological pressure, because Chinese people’s traditional habits do not allow them to eat more than they need and pay attention to saving, so buying a house with a loan is not suitable for conservative people. And the fact is that home buyers are indeed burdened with heavy debt, which is not easy for anyone.

2. Difficult to realize quickly. Because the property itself is used as a mortgage, it is difficult to resell the property, which is not conducive to home buyers exiting the market.

3. What documents are needed to apply for a mortgage loan

1. You need to prepare a loan application form. You can go to the bank to fill it out directly. You must fill in the relevant information truthfully.

2. Personal identity documents, including your ID card and household registration book at home. If you have a passport or police certificate, etc., you can be fully prepared.

3. You also need to prepare personal proof of marital status. If you are married, you need to prepare a marriage certificate. If you are not married, you need to go to the civil affairs department to issue a single certificate.

4. It is very important to prepare proof of personal income, because the bank needs to consider whether you have the ability to repay the loan, such as your salary statement. If you open a company, you need to provide proof of tax payment.

5. Proof of the house purchase contract and down payment must also be provided.

6. If the house is owned together with other people, the other person also needs to provide his/her identity certificate, etc.