commercial loan
Commercial loans have relatively low requirements for buyers. As long as property buyers have good credit information and corresponding repayment ability, they can generally apply for commercial loans. The interest rate of commercial loans is relatively high. At present, the LPR over five years is 4.65%, and banks will choose to add points according to market conditions, which is a concept with the previous benchmark interest rate fluctuation. Taking Chengdu as an example, the number of first home loans in many banks has reached 148, and the mortgage interest rate is 6. 13%.
Provident fund loan
Not all property buyers can apply for provident fund loans, but employees need to pay provident fund to apply, and they need to meet the conditions such as the balance of provident fund and the payment period. The interest rate of provident fund loans is very low. Now the interest rate of provident fund loans for more than five years is 3.25%, which is very different from commercial loans. There is an upper limit on the amount of provident fund loans, and the amount of provident fund loans in different cities is different. However, housing prices in big cities are not cheap now, and the amount of provident fund loans may be difficult to meet the loan demand of buyers.
Consortium lending
Portfolio loan refers to a combination of commercial loan and provident fund loan. The process of portfolio loans is generally complicated, and the lending speed may be slow, so real estate agents and developers generally do not want buyers to use portfolio loans. The advantage of portfolio loans is that when the amount of provident fund loans is not enough, some commercial loans can be used, so that some loans use commercial loan interest rates and some loans use provident fund loan interest rates, which can save mortgage interest.
How should buyers choose which kind of loan?
Considering that the interest rate of provident fund loans is very low, you should try to choose provident fund loans when you pay the provident fund. If the provident fund loan is affected by the deposit period and the loan balance and can only be loaned in a small amount, there is no need to use the provident fund loan. It is more convenient to use commercial loans directly, and the mortgage interest will not differ much.
When the loan amount is large and the provident fund loan cannot meet the loan amount, you can choose a combination loan. Although the process will be more troublesome, it can still save a lot of interest for buyers, which is very necessary. For example, if you buy a new house of 6.5438+0.5 million in Chengdu, the minimum down payment is 450,000, and the loan amount is 6.5438+0.05 million. The maximum amount of personal provident fund loans in Chengdu is 400,000, with 400,000 provident fund loans and 650,000 commercial loans available. In this way, a provident fund loan of 400,000 yuan can also save a lot of interest. If both husband and wife have provident fund, the maximum loan for two people is 700 thousand, which will save more interest.
When buying a house, many buyers can actually use provident fund or portfolio loans, but in order to simplify the process or lend money faster, real estate agents or sales staff will directly recommend buyers to use commercial loans, and buyers do not know the difference very well, so they choose commercial loans, which will pay a lot of interest in vain.