2. Specifically, mortgage loan means that the buyer obtains a loan from the bank with the purchased house as collateral, and the buyer pays the bank in installments according to the repayment method and time limit agreed in the mortgage contract, and the bank charges interest at a certain interest rate. If the lender defaults, the bank has the right to take away the house.
3. Generally, installment payment is mostly used for some products with long production cycle and high cost. Such as the export of complete sets of equipment, large vehicles and heavy machinery and equipment. Most of the rest of the money will be paid in installments after some or all of the products are produced and shipped, or when the warranty period for installation and commissioning investment expires.
Take a 500,000 house as an example. You pay 6,543,800 yuan (20%) to the developer, and then use this house as collateral to borrow 400,000 yuan from the bank. The bank will directly transfer 400,000 yuan to the developer's account, and then you will return the money to the bank every month. This is called mortgage, with a term of 20 years and a monthly repayment of about 2760 yuan (including interest). The installment plan is like this. For a 500,000 house, you can pay 20% in advance, 65,438+00% every month thereafter, and 65,438+00% in the final installment when you move in. This method is similar to one-time payment, but now it is rarely accepted by ordinary developers.
Extended data
Buying a house by stages means that you can get the right to use the house by paying part of the money first, and the rest should be paid off year by year within the prescribed time limit.
Buying a house by installment is a price settlement method of housing credit sales business, which is widely used in housing sales. In China, installment payment is widely used to sell old public houses. Under normal circumstances, employees pay 30%-50% of the house price in advance, and the rest will be paid in 5 years or longer. Installment payment is also widely used in the settlement of new houses.
The so-called mortgage loan is a personal housing loan business in which buyers use the purchased houses as collateral and the purchased real estate enterprises provide regular guarantees.
Mortgage to buy a house needs information:
1.3. Original and photocopy of the ID card and household registration book of the applicant and spouse (if the applicant and spouse are not registered in the same household, a marriage certificate shall be attached).
2. The original purchase agreement.
3. 1 Original and photocopy of advance payment receipt for 20% or more of the house price.
4. Proof of the applicant's family income and related assets, including payroll, personal income tax bill, income certificate issued by the unit, bank deposit certificate, etc.
5. The developer's collection account number is 1 copy.
References:
Baidu encyclopedia-buying a house by stages? Baidu encyclopedia-house mortgage loan