In fact, the choice of loan life will also be limited by many factors, not how long buyers want to choose. Usually, the property right of ordinary houses is 70 years and the loan period is 30 years. For commercial houses and residences, the ownership term is 40 years or 50 years, and the loan term is 10 year; The loan period for private property transfer houses and auction houses is 20 years.

2. Look at the age of the room:

If it is a loan to buy a second-hand house, buyers should pay attention to the age of the second-hand house before determining the loan period. When buying a second-hand house, the loan period will be affected by the age of the house. The age of the house is calculated from the date of completion and delivery of the house. The older the house, the shorter the loan period. The sum of the age of the second-hand house and the loan period cannot exceed 30 years, some banks stipulate that it cannot exceed 40 years, and some stipulate that it cannot exceed 50 years. It depends on the regulations of each bank and the specific situation of the house, such as location and value.

3. Look at the age of the lender:

In addition to the age of the house, the loan term should also be selected according to the age of the lender. Usually, banks accept loan applications from young people aged 20 and middle-aged people aged 50. When buying a house, the loan period is different. Generally speaking, the sum of the loan term and the borrower's age shall not exceed 65 (or 70).

4, look at personal strength:

Choosing a longer loan term has less repayment pressure, and choosing a shorter loan term has higher requirements for the strength of buyers. When buying a house with a loan, the income certificate can directly reflect the borrower's repayment ability. Under normal circumstances, high-income people, banks may suggest that the loan period is relatively short; If the borrower's income is poor, the bank will recommend a longer loan period.

What are the advantages of a long loan term?

1, with low repayment pressure:

The loan period will affect the monthly repayment amount. The longer the loan term, the less the monthly repayment pressure. Why do you say that? Because many people buy a house to get married, they still have to face a series of expenses such as getting married, having children and buying a car after buying a house. This is a big expense for a young couple and even two families. The longest loan period can reduce the monthly repayment pressure.

2. The loan has a long term and is suitable for early repayment;

Early repayment may not be suitable for everyone, but people with long loan years are more suitable for early repayment. Because if the loan term is not too long, after you have repaid a part of the loan, for example, after you have repaid it for five years, if the loan is 10 years, it is half repaid, so it is basically meaningless to repay in advance, because you have already repaid most of the interest, which is not cost-effective.

But if you choose a 30-year loan period, it will be different. There are still more than 20 years. If you have the ability to pay off the loan at one time, you can save a lot of interest. But generally speaking, if there are not many idle funds, there is no need to repay in advance. You know how difficult it is to get a loan now. It's not good to borrow 30 yuan, so you can pay it back slowly, and you have funds to make other investments.