How many years can I borrow a 40-year mortgage?
1. There is an age limit for bank loans. Generally speaking, the borrower must be 18 years old and have full capacity for civil conduct. The upper limit of the loan age is 60 for men and 55 for women.
2. When the borrower applies for housing mortgage loan or mortgage loan, the loan term+current age shall not exceed the bank loan age limit, that is, men are 60 years old and women are 55 years old.
3. Lending institutions have certain restrictions on the age of borrowers, and different lending institutions have different requirements. However, compared with loan companies, banks have slightly lower age requirements for borrowers. Specifically, we take personal unsecured loan products as an example.
4. Citibank Happiness Loan requires the borrower 18-55 years old to apply; ICBC stipulates that the borrower is between 18 (inclusive) and 60 (inclusive). CreditEase Pleasant Loan requires borrowers to be between 22 and 55 years old; Heng Chang Huicheng Wage Loan stipulates that the borrower's age is "between 22 and 60".
How many years is a mortgage loan suitable?
1. Choosing a suitable loan term needs to be calculated according to the monthly income and expenditure. Everything must be based on the premise that the quality of family life will not drop too much. Therefore, the monthly payment should not exceed half of the monthly income, but should be controlled within 30% as far as possible. If the monthly payment ratio is too high, other expenses in family life will be reduced, which is also unreasonable.
2. When the economic conditions are not very good, you can choose the longest repayment period, so that the monthly repayment pressure will not be particularly great and the impact on family life will be relatively small. Now the bank also has regulations that there is no extra charge for early repayment. Therefore, if you choose a repayment period of 30 years, you can also pay off the loan in advance after the economic conditions catch up.
3. However, the age of the lender also affects the loan term. People over the age of 40 buy a house, and the bank won't let you borrow for 30 years.
The article talks about how many years a 40-year-old mortgage can be borrowed and how many years a mortgage loan is suitable, hoping to help friends in need. Generally speaking, there are many restrictions on the loan period of mortgage. If you have not applied for a loan before, you should communicate with the person in charge of the lending institution, because different banks have different regulations, so it is best to confirm in advance.