What is the minimum down payment for buying a house with a loan?
The minimum down payment for a loan to buy a house depends on two aspects, one is the type of house, whether it is the first suite or the second suite, and the other is the type of loan, provident fund loan or commercial loan.
1. Commercial loan: The down payment ratio for the first home is generally not less than 30%, and the loan for the second home is not less than 40%, depending on local policies and bank regulations.
2. Provident fund loan: take the family as the identification unit, and the down payment ratio of the first suite is not less than 20%; If the first home loan is settled and then the loan is used to buy a second suite, the minimum down payment ratio is 30%.
It should be noted that the down payment for a loan to buy a house must be its own funds, and it is not allowed to borrow from a bank.
If you can't afford that much down payment, you can try the following methods:
1, ask someone to borrow money:
Borrow money from parents and brothers first, pay the down payment, and then pay it back after the mortgage is approved. If you have close friends, you can also borrow money. Don't be afraid of losing face and not paying back the money you borrowed.
2. Liquidation of assets:
If you have securities such as funds and stocks in your hand, you can sell them and realize them first, and then continue to invest after raising the down payment to buy a house. The speed of real estate regulation is much faster than the speed of securities appreciation.
3. In a smaller area:
Buy a smaller house and live in it first. When the conditions are good, you can improve your living conditions, and then borrow money to buy a second suite, or buy a smaller house.
Finally, I would like to remind you that in addition to the down payment, there are also house deed tax and insurance premium. Therefore, before buying a house with a loan, it is best to calculate the funds you can raise first, and then lend according to your own economic strength.