What do you need for a house loan?
1, apply for a mortgage and do what you can.
Some people think that the bigger the loan amount, the better, but this is not the case! Because you have to pay the mortgage and interest. If your loan term is longer and the loan amount is larger, you will have to pay more interest, which will increase your repayment pressure.
2. Prepare loan information in advance.
Copy of ID card, copy of household registration book, copy of marriage certificate or single certificate, copy of education certificate, copy of income certificate, copy of bank account, purchase contract, down payment invoice, social security related certificates, etc. It is also very important that if there is a bad credit record in credit card repayment, you must apply for cancellation or issue relevant certificates.
Step 3 provide real information
If the loan buyers provide false materials to the bank, it may have a serious impact: it will affect the bank's audit, and it will be impossible to issue loans and realize the dream of living; What's more, it may be because individuals provide false materials, which leads to the inability to apply for loans, which leads developers to require buyers to bear the liability for breach of contract for overdue delivery of mortgage materials and pre-sale contracts of commercial housing, and pay a considerable amount of liquidated damages.
4. Clear the repayment method in advance.
At present, there are two main repayment methods for bank loans to buy a house, namely equal principal and interest and average principal. Although there is little interest in the average capital, the monthly supply is high and the pressure is relatively high. The total interest of equal principal and interest will be higher, but the monthly repayment pressure is small. You can choose the appropriate repayment method based on your own situation.
What kind of loan is more cost-effective?
1, repayment by installment. This repayment method is more suitable for young people. Because young people and college students have just joined the work and are short of funds, this repayment method allows customers to have a grace period of 3-5 years, and they only need a few hundred yuan each month to start repayment. Five years later, with the increase of income and the consolidation of economic foundation, repayment will also increase into a normal repayment method.
2. Average capital repayment method. This repayment method is suitable for groups with higher income. The borrower can gradually reduce the repayment burden with the increase of repayment period. This repayment method is to allocate the principal to each month and pay off the interest between the previous repayment date and the current repayment date. With the passage of time, the repayment burden will be gradually reduced, but because the interest is decreasing, the monthly payment in previous years will be higher than the matching principal and interest, and the pressure will be greater, so this repayment method is more suitable for people with high income and low repayment pressure.
3. Equal principal and interest repayment method. This universal repayment method is suitable for people with stable income. Matching the principal and interest is to add up the total principal and interest of the mortgage loan and then share it equally every month during the repayment period. As a repayment, he pays a fixed amount to the bank every month, but the proportion of principal in the monthly repayment increases month by month, and the proportion of interest decreases month by month. It can be seen that families with stable income and economic conditions do not allow excessive investment in the early stage can choose this method.
4. Pay interest quarterly and monthly in one lump sum. People suitable for business activities. One-time repayment of principal and interest refers to the repayment method of one-time repayment of loan interest and principal on the loan maturity date. For small enterprises or individual operators, it can reduce the repayment pressure.