Age influence: at present, the borrower's age+loan period should not exceed 70 years, so the final loan period of the borrower's loan to buy a house will also be affected by the borrower's age. If the mortgage borrower has reached the age of 55 when handling the mortgage loan, the longest loan period is 15 years.
Influence of the age of the house purchased: the age of the house is mainly calculated according to the completion date of the house. Generally, when applying for a mortgage loan, a house with a room age of less than 5 years can apply for a loan of 30 years at the longest. If it exceeds 5 years, the unified loan can only reach 15 years at most. The average user's loan period =30 room age, but this formula is not fixed and needs to change according to the change of policy.
Influence of repayment ability: Generally speaking, the stronger the repayment ability, the shorter the loan term. If the user wants to borrow 10 years, but the bank thinks that the user's repayment ability is insufficient, the loan may only be approved for 20 years. In addition, it should be noted that mortgage can shorten the loan term, but not extend the loan term, so borrowers should evaluate their repayment ability when choosing the loan term.
How much can I borrow from my mortgage?
1. Due to the influence of the down payment ratio of loans, the amount applied for bank loans usually cannot exceed the difference between the total house price minus the down payment. The down payment ratio will be adjusted according to the property market. Restricted cities and non-restricted cities will be different, and different banks in the same area may be different. It is recommended that buyers fully understand the bank mortgage policy of the place where they buy the house and choose a suitable bank to apply for a loan.
2. The repayment ability mainly refers to the monthly income of the lender, because the monthly income directly reflects the repayment ability of the borrower. The relationship between loan amount and monthly income can refer to the following formula: monthly income ≥ monthly mortgage repayment X2.
3. When the bank issues loans, it will review the age of the loan house. Usually the requirement is 20-25 years, 30 years for a looser house and 15 or 10 years for a stricter house. The loan amount of second-hand houses with older houses may be reduced. Under strict bank conditions, the loan will be refused. It can be said that the shorter the house age, the easier it is to get a loan, and the loan amount is higher than that of an older house.
4. Personal credit information can be said to be one of the important criteria for banks to consider borrowers. Good credit information is a prerequisite for obtaining preferential interest rates and loans. Some banks will look at the credit card credit records of borrowers within two years and the loan credit records within five years. Some banks will look at the credit records for a longer period of time, and the requirements are different. Serious overdue credit reports for three consecutive times and six times in total may lead to loan rejection.