1. The maximum term of individual housing loan is 30 years;
2. The longest term of personal commercial housing loan is 10 year;
3. Men under 60 years old and women under 55 years old.
The question of "how many years of mortgage loan is appropriate" cannot be generalized, but should be discussed according to the different income and economic situation of buyers. Generally speaking, the longer the loan term, the less the monthly repayment amount; The shorter the loan period, the higher the monthly repayment amount.
If the lender's income is stable and relatively high, it is suitable to choose short-term loans. The shorter the time, the less interest. For people whose high income is only for temporary turnover, this can save a lot of mortgage interest. For people with unstable income or low income, it is more cost-effective to lengthen the life span considering their own income problems.
Although the choice of mortgage period is closely related to the economic strength of buyers, in the eyes of experts, there are different mysteries. Judging from the current mortgage interest rate, under normal circumstances, it is generally recommended that buyers choose the repayment period of 15-20 years, so that the total interest paid is relatively reasonable ~