The so-called zero down payment does not mean that there is no down payment for buying a house, but that buyers usually pay the down payment first, and then the developer returns the down payment to the buyers after getting the bank loan; Or developers cooperate with third-party financial companies to help consumers buy houses through down payment and installment, and some real estate agents even provide shell companies for buyers to defraud loans.

Zero down payment seems to be beneficial in the immediate future, but it is harmful in the long run. On the surface, zero down payment lowers the threshold of buying a house, reduces the pressure of capital turnover of buyers, and enables those who do not have the conditions to buy a house to realize their dream of buying a house. But in fact, it did not really reduce the cost of buying a house. On the contrary, the monthly loan amount is increased by raising the total contract price of the house, which increases the repayment burden of the buyers.

Through marketing tactics, zero down payment not only achieved the goal of "wool is on sheep", but also transferred the debt risk to buyers.

It should be noted that the chaos of "raising the total contract price" and down payment loans bred by zero down payment is illegal. The former is suspected of defrauding loans and pushing up bank risks. The latter often leads to the detour of credit funds into the property market, which has long been severely investigated and cracked down by the regulatory authorities.

Tickets have been issued in many places before, and the cause of action involves illegal business loans and consumer loans for buying houses. In the face of interests, individual developers and real estate agents do not hesitate to take risks, which not only hurts property buyers, but also increases financial risks and market risks.

Related precautions

Customers who want to borrow money to buy a house must first prepare enough down payment for the house. After paying the down payment to the real estate developer and signing the purchase contract, you need to prepare personal ID card, household registration book or local temporary residence permit, water and electricity/property fees and other residence certificates. And proof of income such as payroll and bank running water; And a down payment receipt.

If you have certain assets, customers can also prepare some additional financial proof materials, such as car driving license, large deposit certificate and so on. With the above information ready, customers can go to the bank to apply for a mortgage.