The difference between a home purchase loan that is effective in one month and one that is effective in one year is as follows:

1. One-month effective means that the loan starts accruing interest in the next month and is repaid every month according to the interest rate. Effective after one year means that the loan starts accruing interest after one year, the lender does not need to repay immediately, and the lender is allowed to settle the principal and interest in one lump sum on the loan maturity date.

2. The advantage of this kind of loan that takes effect in one month is that the lender can obtain funds as soon as possible for investment, business expansion and other actions. However, the risk of higher interest rates also needs to be taken into consideration. If the borrower cannot repay the loan on time, he will face high penalty interest. The advantage of taking effect after one year is that lenders can have more time to raise funds and reduce stress, while also having enough time to plan their investment strategies. In addition, because the interest rate of the loan is relatively low, the borrower can avoid high penalty interest while also having enough profit to cover the loan interest.