How much is the down payment for a first home in Wenzhou?

In 2018, relevant departments required cities that did not implement purchase restrictions to adjust the down payment ratio for first home loans to no less than 25%. Many state-owned banks and joint-stock banks have expressed that they are waiting for the issuance of the policy from the head office, and the restrictions have not yet implemented this new policy.

In principle, the down payment ratio is 25%, which can be adjusted downward by 5 percentage points in various places, that is, to 20%. The down payment ratio for a second home in non-first-tier cities: shall not be less than 30%.

The down payment ratio for a second home in first-tier cities: generally cannot be less than 50%. This new policy only applies to cities that do not implement purchase restrictions. If once implemented, Beijing, Shanghai, Guangzhou, Shenzhen and other cities that still implement purchase restrictions will not be able to benefit directly.

What are the preferential policies for first-time home loans in Wenzhou:

1. If you purchase an ordinary house in Wenzhou under 90 square meters in your name, you can enjoy the deed tax reduction to 1%.

2. First-time properties in Wenzhou are currently exempt from stamp tax and land tax.

3. The lower limit of the loan interest rate can be expanded to 0.7 times the loan base interest rate, and the low down payment ratio can be adjusted to 20%.

4. The loan interest rates of personal housing provident funds and the interest rates of each grade have been reduced by 0.27 percentage points respectively.

5. When a house buyer sells an ordinary house that has been purchased for more than 2 years, the house buyer does not need to pay business tax.

6. Housing registration fees for ordinary housing purchases and housing transfer fees for buying and selling existing houses will no longer be levied.

7. When a household that owns one house and has outstanding home purchase loans purchases a second house, the down payment ratio for the house shall be adjusted to no less than 40%.

8. When those who use housing provident fund loans to buy their first ordinary home in Wenzhou, the down payment is as low as 20%; if a family that owns a house and has paid off the loan applies for housing provident fund to buy a house again, the down payment will be as low as 20%. At 30%.