What are the advantages of portfolio loans?
1. Separate interest calculation
Portfolio loan means that mortgage is divided into two parts, one is provident fund loan, the other is commercial loan, and the loan interest is calculated separately. As we all know, the interest rate of provident fund loans is relatively low, so the overall interest of portfolio loans will be much less than that of applying for commercial loans.
2. The loan amount is relatively high.
Some property buyers are eligible for provident fund loans, but when they apply for loans to buy a house, they switch to portfolio loans, which may be because the loan amount is not enough. You should know that there is a maximum amount of provident fund loans. The use of portfolio loans can solve the embarrassment of insufficient provident fund loans. Portfolio loan is a combination of provident fund loan and commercial loan, and the part with insufficient loan can apply for commercial loan.
What problems should I pay attention to when applying for portfolio loan?
1. Pay attention to the loan conditions.
As Bian Xiao said, different loan methods have different loan regulations, and applying for portfolio loans also needs to meet certain conditions. Because portfolio loans are a combination of provident fund loans and commercial loans, applying for portfolio loans needs to comply with the regulations of provident fund management center and the requirements of lending banks. Most cities stipulate that housing provident fund needs to be deposited continuously for more than one year to reach the standard of provident fund loans. As far as banks are concerned, they need to have sufficient repayment ability to successfully apply for portfolio loans.
2. Pay attention to the repayment method
First of all, buyers must use the minimum amount of provident fund, which is more cost-effective. Secondly, you can choose the loan method or the repayment method. At present, there are two main repayment methods to choose from, one is equal principal repayment, and the other is equal principal and interest repayment recommended by the bank. These two methods are not suitable for the buyer. If you have a high income, a stable job and don't want to pay too much loan interest, you can choose the repayment method in the average capital.
3. Pay attention to prepayment.
Many property buyers will have the idea of prepayment after buying a house with a loan. Buyers who apply for portfolio loans to buy a house must pay attention to the fact that they can repay in advance, but it is not very cost-effective to distinguish between provident fund loans and commercial loans. Property buyers can choose to repay commercial loans in advance.
At present, most employees have paid personal housing provident fund. For property buyers, how to use the housing provident fund when buying a house is very cost-effective. However, at present, housing prices are high, and people often encounter the problem of insufficient loan amount. At this time, you can consider portfolio loans. The above is an introduction to the advantages of portfolio loan and the matters needing attention when applying for portfolio loan.