Advantages of commercial loans
Judging from the time of loan approval, the bank can approve the loan within 5-7 days after the borrower completes the formalities. After the transfer, the buyer and the seller complete the mortgage registration, and the bank can lend money within 1 week after seeing the certificate of other rights. Therefore, from the time of loan approval and loan issuance, the processing speed of commercial loans is the fastest among all housing loans.
As mentioned above, the processing speed of commercial loans is relatively fast, so many developers and owners recognize commercial loans, which are more liquid and more widely used in the loan methods of buyers and sellers.
Disadvantages of commercial loans
Although the processing speed of commercial loans is the fastest, the cost of loans is also the highest. Although the interest rate of commercial loans was 5.40% after the central bank cut interest rates three times, it was 4.86% after banks generally discounted 10%, which was much higher than the interest rate of provident fund loans of 3.50%, which would undoubtedly increase the purchase cost of buyers.
There is more than one loan for buying a house. You can choose provident fund loans, commercial loans or portfolio loans. Of course, because the interest rate of provident fund loans is the lowest, everyone likes provident fund loans best, but there are many restrictions on provident fund loans, so many buyers who just need to improve their customers or do not meet the conditions of provident fund loans often choose commercial loans. In view of this, in this issue, we sorted out the advantages and disadvantages of commercial loans for everyone, hoping to benefit everyone in buying a house.
(The above answers were published on 20 15-07-2 1. The current purchase policy should be based on the actual situation. )
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