Is the loan time long or short?
If the monthly income is high and stable and the loan time is short, you can save a lot of interest. Of course, if the income is not high or unstable, the loan time is better to be longer. Although the interest paid is more, the pressure is less, and personal credit will not be affected by unexpected things.
How to choose the loan term that suits you?
1, just need people
For such people, the most important thing to consider is repayment ability. Generally speaking, if the repayment ability is high, then the selected period can be shorter. If the repayment ability is low, choose a longer term and try to make your monthly payment not exceed 50% of your monthly income.
2, just need to take into account the investment crowd.
The purpose of such people buying a house is not only to be independent, but also to sell a house or replace a new house in the future. At this point, the loan term depends on the return on investment from other channels. If the return on investment is >; The interest rate of house purchase loan, the longer the loan time, the better; If the return on investment
3. Pure investment crowd
Depending on the specific situation, if the house price will continue to rise, the longer the loan time, the better; If the house price has a tendency to plummet, the shorter the loan time, the better. Of course, the possibility of a plunge is almost zero, and you only need to consider your repayment ability.
Summary: well, the loan time is long or short. I hope I can give you some help. I believe that in the process of understanding whether the loan time is long or short, friends will be more handy and get their own satisfactory answers.