Advantages and disadvantages are analyzed as follows:
I. Commercial loans
Advantages: wide application and fast processing flow.
1. Judging from the bank's interest rate discount, some banks can get considerable interest rate discount if the property buyers are qualified. This discount is very important. The interest rate will change with the adjustment of the country, but the discount will not change.
2. Judging from the loan approval time, the bank can approve the loan within 6-7 working days after the borrower completes the formalities, and the buyer and the seller can lend money within 10 working days after the transfer. Therefore, in terms of loan approval and lending time, commercial loans are obviously superior to portfolio loans, and the processing speed is the fastest among all housing loans.
Disadvantages: high loan interest and high cost of buying a house.
Although the processing speed of commercial loans is the fastest, the cost of loans is also the highest. Although the interest rate of commercial loans over five years is 4.9% after the central bank cut interest rates several times, commercial banks may also give corresponding preferential treatment according to customer qualifications, which is much higher than the interest rate of provident fund loans of 3.25%.
Second, portfolio loans.
Advantages: Save interest for buyers.
Through calculation, we can see that the biggest benefit of portfolio loan is to save interest for buyers. According to the loan of 3.5 million yuan and the benchmark interest rate of 20 years, the monthly repayment of principal and interest of pure commercial loans is 22,905 yuan, and the corresponding monthly repayment of combined loans is 2 1858 yuan, which is less than that of commercial loans 1045 yuan. The total interest of commercial loans is 1997330 yuan, and the total interest of combined loans is 1746054 yuan, with a difference of 25 1276 yuan. This conclusion is still valid when the monthly supply is decreasing month by month.
Disadvantages: the loan bank is restrictive, with long processing time and high cost.
Although portfolio loans are more economical than commercial loans, the disadvantages of handling portfolio loans are also obvious.
1. The bank to be handled must be designated by the provident fund management center, which makes the buyers have certain restrictions on choosing banks, preferential interest rates and repayment methods.
2. It takes a long time to deal with portfolio loans. Moreover, portfolio loans involve both provident fund and commercial loans, which need to go through two procedures: commercial loans and provident fund, and commercial loans can only be released after mortgage registration, which also makes the processing time of portfolio loans longer than pure commercial loans and pure provident fund, which leads to the low acceptance of this loan method by many owners.
3. As for the cost of loan processing, because the combined loan needs to charge the service fees of the provident fund and the commercial loan respectively, compared with the commercial loan, the borrower will increase the expenses of the provident fund guarantee fee and the provident fund evaluation fee when handling the combined loan.
Comprehensive comparison, portfolio loans and commercial loans have their own advantages and disadvantages. Property buyers need to combine their own conditions, family funds in the next few years, and the cycle acceptable to the owners to decide which loan to use.
(The above answers were published on 2015-11-18. At present, please refer to the actual situation for the relevant purchase policy. )
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