Is the mortgage cost-effective? !

in terms of loan interest rate, it is cost-effective. As we all know, when a bank applies for a loan, the loan interest rate will be different with different products.

The mortgage interest rate is definitely higher than the mortgage interest rate. In 221, the average interest rate of the first home loan reached more than 5.8%, while the interest rate of the mortgage loan was generally around 5%.

suppose a wants to buy a house with a price of 1 million yuan. if he chooses a house purchase loan, and a has prepared a down payment of 3, yuan, he needs to apply for a mortgage of 7, yuan.

according to the loan interest rate of 5.8%, if the loan term is 3 years, a * * * needs to bear about 1.2 million loan interest.

if a buys a house in full and then mortgages the house, it is highly probable that he will apply for a loan amount of around 7,, and the loan interest rate is around 5%.

Of course, the bank will not allow A to apply for a 3-year mortgage loan term. According to the calculation in 1 years, A * * * needs to bear the interest of about 35, yuan.

in addition to saving interest, if you buy a house in full first and then mortgage it, you can also save the next tax. Moreover, because you buy a house in full, you can also negotiate with the developer about the price of the house.

and the general approval period of mortgage loan is 1-2 months, and the approval period of mortgage loan is 2-3 working days.

mortgage, also known as house mortgage. Mortgage means that the buyer fills in the application for mortgage loan to the bank, and provides legal documents such as ID card, income certificate, house sales contract, guarantee, etc. The bank promises to issue loans to the buyer after passing the examination, and handles the registration and notarization of real estate mortgage according to the house sales contract provided by the buyer and the mortgage loan contract concluded between the bank and the buyer. The bank directly transfers the loaned funds to the account of the seller within the time limit stipulated in the contract.

housing loan

Personal housing loan refers to the loan issued by the bank to the borrower for the purchase of self-occupied ordinary housing. The borrower must provide a guarantee when applying for a personal housing loan. Personal housing loans mainly include entrusted loans, self-operated loans and portfolio loans. Entrusted loans

Personal housing entrusted loans refer to loans granted by banks to individuals who purchase ordinary housing according to the specified requirements, with housing provident fund deposits as the source of funds. Also known as provident fund loans.

Self-operated loans

Self-operated loans for individual housing are loans granted to individual buyers with bank credit funds as the source. Also known as commercial personal housing loans, the loan names of banks are different. China Construction Bank is called personal housing loans, and Industrial and Commercial Bank and Agricultural Bank are called personal housing secured loans.

portfolio loan

individual housing portfolio loan refers to a loan issued to the same borrower from the housing provident fund deposit and credit funds for the purchase of self-occupied ordinary housing, which is a combination of individual housing entrusted loan and self-operated loan. In addition, there are housing savings loans and mortgage loans.

mortgage repayment methods: average capital, matching principal and interest, biweekly payment, etc.

loan amount: 8% of the property value can be loaned after passing the bank review.

down payment on mortgage: 3% down payment is required for the first home mortgage loan and 5% down payment for the second home mortgage loan.

loan period: the loan period for a first-hand house is 3 years, and that for a second-hand house is 2 years. At the same time, the loan period plus the applicant's age should not exceed 7 years.

loan interest rate: the benchmark interest rate of the first home loan for more than five years is 6.55%, and the interest rate of the second home loan is 1.1 times higher than the benchmark interest rate, that is, 7.26%.

Ways

There are three ways of housing loans, namely, bank commercial loans, provident fund loans and portfolio loans.

Is it worthwhile to buy a house with a loan?

Whether it is worthwhile to buy a house with a loan depends on the financial situation at the time of your house. If you can buy a house in full and don't need a loan, it will save high loan interest. If you are eager to buy a house, but have no ability to pay the full amount, it is undoubtedly a very cost-effective choice to buy a house with a loan.

First, the advantages of buying a house with a loan

1. Less capital investment

The advantage of buying a house with a loan is that you can buy a house first with less money.

2. Capital activity

From the perspective of investment, loan buyers can separate funds, such as lending to buy a house for rent, and then buying other projects, so that the use of funds is more flexible.

3. Less risk

Mortgage loan is to borrow money from the bank to buy a house. In addition to the buyers' concern about the advantages and disadvantages of the house, the bank will also review it. In this way, the insurance of buying a house will be improved.

second, the disadvantages of buying a house with a loan

1. Being in debt. Speaking of shortcomings, first of all, the psychological pressure is great, because the traditional habits of China people do not allow people to live beyond their means and pay attention to saving, so it is not suitable for conservative people to buy a house with loans. And in fact, buyers do bear heavy debts, which is not easy for anyone.

2, it is not easy to realize quickly. Because it is mortgaged by the real estate itself, it is difficult to resell the house, which is not conducive to the delisting of buyers.

3. What information do you need to prepare for mortgage

1. If you need to prepare an application for loan, you can go directly to the bank and fill in the relevant information truthfully.

2. My ID card, including your ID card and your household registration book, can be fully prepared if you have a passport or a police officer's card.

3. It is also necessary to prepare a personal certificate of marital status. Those who are married need to prepare a marriage certificate, and those who are not married need to go to the civil affairs department to issue a single certificate.

4. It is very important to prepare proof of personal income, because the bank should consider whether you have the ability to repay, such as your salary running bill. If you start a company, you need to provide proof of tax payment.

5. proof of the purchase contract and the down payment should also be provided.

6. If this house is owned by others, the other person also needs to provide his own identification, and so on.

is it cost-effective to buy a house with a commercial loan?

it's cost-effective.

The following conditions need to be met when a bank commercial loan is converted into a housing provident fund loan:

1. The loan applicant meets the general housing provident fund loan conditions;

2. The loan applicant has obtained the house ownership certificate and the state-owned land use certificate of the purchased house;

3. The original commercial loan must be a house purchase loan and there is no debt for more than two months at the time of lending.

the difference between commercial loans and provident fund loans:

1. Different sources of funds

Personal housing provident fund loans are housing security loans for employees who pay housing provident fund to buy their own houses, which are not for profit. Commercial loan is a transaction that takes real estate as collateral and obtains a one-time loan from banks and other financial institutions. It is a loan method that is approved and issued by commercial banks for profit.

Second, the loan targets are different

The loan targets of housing provident fund should have full capacity for civil conduct, have paid the provident fund in full for more than 6 months every month, have stable occupation and income, have the ability to repay the loan principal and interest, have good personal credit status, and agree to provide loan guarantees recognized by the center, and recognize the terms of the loan contract. The object of commercial housing loans is a natural person who has passed the credit investigation and has the ability to repay. Generally speaking, people with good credit and repayment ability can apply for commercial loans.

III. Different loan procedures

The procedures for provident fund loans are complicated. Applicants need to provide relevant information and submit it to the counter of the provident fund center for review and acceptance. The counter staff of the center will input the application information into the loan system of the provident fund center, investigate and verify the application, then determine the loan amount, duration and guarantee method according to the information provided by the borrower and the investigation, sign the contract and go through the mortgage or pledge procedures, and finally issue the loan. Commercial loans can be handled by the borrower directly providing relevant materials to the relevant bank agency or the developer who signed a cooperation agreement with the bank after signing the house purchase contract.

IV. Different repayment methods

The repayment methods of provident fund loans are relatively simple, mainly in two ways: matching principal and interest and average capital. In addition, provident fund loans only have one opportunity to repay in advance. There are many repayment methods that commercial loans can choose, and they are more free and flexible in prepayment. Generally, commercial loans can be repaid in advance every year after one year.

V. Different expenses

Housing provident fund housing loans generally only need guarantee fees and evaluation fees. Commercial bank housing loans generally require lawyer fees and insurance fees. For commercial loans, law firms are entrusted to conduct credit investigation on borrowers, and lawyers charge 4‰ lawyer fees, while provident fund loans do not require individuals to pay lawyer fees.