There is no fixed opinion on whether a mortgage loan will last long or not. It depends more on personal conditions and cognition. When applying for a mortgage loan, you must consider inflation, repayment pressure, mortgage interest and other aspects when determining the loan period. Inflation is often ignored. A monthly payment of 5,000 now is completely different from a monthly payment of 5,000 in 10 years. Although the cost of buying a house becomes higher with a longer loan term, the actual cost of living may actually drop after many years.

Repayment pressure and interest can be discussed together. The monthly repayment pressure is smaller the longer the loan is, but the longer the loan is, the higher the mortgage interest will be. If the borrower can afford it, choose a shorter loan term so that the interest rate is the most appropriate and low enough. If it is expected that there will be a sufficiently high improvement in income in the future, it is better to choose a longer loan term. For those who are sensitive to interest figures and are unwilling to pay for high interest rates, it is best to reduce the loan period as much as possible within the acceptable range of income.

What should you pay attention to when buying a house with a loan?

1. Apply for a loan amount within your ability

Generally speaking, the loan amount granted by the bank to the lender is generally based on It is determined based on the borrower’s economic situation and income level. The purpose is to ensure that the borrower has sufficient ability to repay the loan and the bank can also avoid risks. However, some lenders think that the larger the loan amount, the better, or even the loan amount is beyond their financial affordability. From the perspective of the bank, naturally they will not be willing to grant loans to such lenders, so everyone should be careful when applying for a loan amount. Act within your capabilities.

2. Keep good personal credit

If you want to get a loan to buy a house, it is necessary to maintain a good credit record. Personal credit directly affects the bank's ability to repay the borrower. Evaluate. If your personal credit record is not good, you may be denied a loan. At present, credit files mainly include: credit cards, real estate mortgages and other types of loans.

3. Prepare a running account before taking out a loan, and do not change jobs frequently

When applying for a loan to buy a house, banks generally require the applicant to issue uninterrupted bank statements for more than 6 months. , based on these to evaluate the applicant's repayment ability, so home buyers should make a beautiful running account for themselves before buying a house. For example: depositing a certain amount of money into your bank card every month can increase your loan approval rate.

In addition, banks will comprehensively evaluate the borrower’s financial ability, such as job stability, income stability, etc. Therefore, for lenders, frequent job changes will affect The progress of the loan.

4. Don’t guarantee for others easily

If you guarantee for others, when you need to apply for a loan, the bank will check the requirements of you and the debtor according to the prompts in the guarantee information. The letter reports that only two people with good credit records and no serious overdue repayments can be approved.

5. Submit true information

The bank will strictly verify the identity of the borrower. If forged information is found, the loan will be even more impossible, and it will not be possible again in a short time. Apply. Therefore, you must submit true information when applying for a bank loan.

6. The loan amount should be an integer as much as possible

From the bank's point of view, the usual workload is relatively large. When approving loans, they are used to approving loans in integer numbers. Therefore, the home buyer applies for The loan amount should be an integer as much as possible, which will make it easier to get approved.

7. Choose a reasonable repayment method

At present, there are two main repayment methods for mortgage loans, one is equal amounts of principal and interest, and the other is equal amounts of principal. Equal principal and interest is the monthly repayment of equal amounts of the loan, adding the principal and interest together; equal principal is the monthly interest generated by the monthly repayment of equal amounts of principal and the remaining loan. As for which one is more suitable, the choice needs to be based on the home buyer's own situation.