First, I regret buying a second suite with a loan.
1. Some friends say that it is a pity to buy a second suite by loan, mainly because the down payment ratio and loan interest rate of the second suite are higher than those of the first suite, which invisibly increases the family's economic pressure.
2. For the first suite, the minimum ratio is 30%, that is, the maximum loan amount does not exceed 70% of the value of the purchased property; The down payment ratio of the second suite is at least 40%, that is, the maximum loan amount does not exceed 60% of the value of the purchased property. In some areas, the down payment ratio even reaches 60%, so the down payment has to pay more money.
3. Some friends who haven't paid off the first set of housing provident fund loans can only choose commercial loans when buying second and above houses. At this time, the loan to buy a second apartment has to be implemented in the New Deal, and the loan interest rate cannot be lower than the benchmark interest rate of 1. 1 times, which is a very expensive expenditure.
4. The choice of repayment method will also determine whether it is cost-effective to buy the second suite. In order to save money, try to choose the repayment method in average capital. Average capital means that the principal remains unchanged, the interest decreases month by month, and the number of monthly repayments decreases. Although the early pressure is relatively large, the overall interest generated is relatively small. While the equal principal and interest increase month by month, the interest decreases month by month, and the monthly repayment amount remains unchanged. Although the pressure is the same every month, the overall interest generated is more.
Can two suites and two suites use provident fund loans?
1, the second suite can use the provident fund loan, but only if the provident fund loan of the first suite has been paid off. If the borrower purchases the 1 suite with the provident fund loan and pays off the loan, he cannot use the provident fund to make the loan and pay off the mortgage when purchasing the second house.
2. Therefore, the use of provident fund loans to buy second homes will be subject to certain restrictions. If the first suite is purchased with a commercial loan and is being mortgaged, the second suite can use the provident fund loan without any impact.
3. If the loan of 1 suite has been paid off, whether it is a commercial loan or a provident fund loan, you can use the provident fund loan to buy a second suite, and the relevant regulations are naturally calculated according to the second suite. For some places, the policy of reducing the down payment of the second suite of provident fund loans by 20% has been implemented.
4. Different from commercial banks, banks "recognize housing and loans", while provident fund centers "only recognize housing but not loans". In other words, the provident fund center only recognizes the property under the applicant's name, and does not calculate the history of its own property and mortgage loan. Therefore, as long as there is real estate under the name, all loans will be made according to the second suite.
Third, the second home provident fund loan policy 2020 policy
1. For some borrowers who use provident fund loans for the first time, the relevant borrowers only need to establish a stable housing provident fund account, usually for more than 6 months (inclusive). At the same time, if you choose to pay the relevant housing provident fund in full and normally for more than 6 months (inclusive), you can apply for a provident fund loan when applying for a loan.
2. The second set of housing provident fund loans has also been adjusted to a certain extent, and the policies of different cities are different. Taking Chengdu as an example, the minimum down payment ratio of the first suite is 20%, while the minimum down payment ratio of the second suite provident fund loan with 1 set of housing and the corresponding loan has been settled is 30%.
3. Employees who buy a second set of commercial housing can apply for housing provident fund loans, but they will stop issuing provident fund loans to employees who buy a third set or more housing. If you bought a commercial house (residence) by mortgage before and then sold it, now you plan to buy a new commercial house (residence), applying for provident fund loan is still the first one.
The above is about the regret of buying a second suite with a loan. Can I use the provident fund loan for the second suite? The second-home provident fund loan policy is related to the policy in 2020. I hope I can help you!