The interest rate of commercial housing loan is related to the loan term. The longer the term of commercial housing loan, the higher the corresponding pricing benchmark interest rate. For example, the one-year LPR is 3.85% and the five-year LPR is 4.65%. Then, if the mortgage term is less than 1 -5 years, refer to the one-year LPR, and refer to the five-year LPR if the mortgage term is more than 5 years. Users who want to get a lower loan interest rate can choose a lower loan life.

However, if the time cost is included, the longer the loan period, the more cost-effective it is for users, so most users try to apply for the mortgage with the longest loan period.

What is the process of commercial housing mortgage loan?

The purchaser selects the purchased commercial house and signs a pre-sale or sales contract with the developer. If it is agreed to apply for a mortgage loan from the bank selected by the developer, the purchaser shall pay the developer the down payment.

1. The developer chooses a bank and signs a mortgage loan cooperation agreement with the bank. Banks promise to provide loans to developers' customers (housing borrowers) under certain conditions, and developers provide guarantees to banks.

2. The bank entrusts a lawyer or mainly reviews the loan qualification of the house purchase contract and the house purchase borrower based on personal credit.

3 property buyers, developers, banks signed a mortgage loan contract.

4. The bank occupies the pre-sale or sales contract of commercial housing and handles the mortgage filing.

5. The bank will pay the loan of the buyer to the developer in one lump sum.

6. The borrower pays the loan principal and interest to the bank on a monthly basis.

7. The developer is responsible for handing over the house ownership certificate and land use right certificate of the purchaser to the bank for safekeeping, and formally handling the mortgage registration.