Those who can apply for a loan for a second home are now relaxed. According to regulations, the down payment for a second home is reduced to 40%.

The People's Bank of China, the Ministry of Housing and Urban-Rural Development, and the China Banking Regulatory Commission jointly issued the "Notice on Issues Concerning Personal Housing Loan Policies."

The "Notice" clarifies that for households that own one house and have outstanding home purchase loans to purchase a second house, the minimum down payment ratio will be adjusted to no less than 40%. If you use a housing provident fund loan to buy your first ordinary home, the minimum down payment is 20%; for families that own a house and have paid off the loan, if they apply for housing provident fund to buy a house again, the minimum down payment is 30%. In the past, when buying a first home with provident funds, the down payment was at least 30%.