What kind of loan is good for buying a house?

First, what kind of loan is good for buying a house?

What kind of loan is good for buying a house? At present, there are three common ways to buy a house by loan in the market. These three ways are provident fund loans, commercial loans and portfolio loans (provident fund is a commercial portfolio loan). So, how should buyers choose? Let's look at the advantages and disadvantages of these three kinds of loans.

First, housing provident fund loans.

Advantages:

① Low loan interest;

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It is convenient to deduct the monthly salary directly from the provident fund every month.

Disadvantages:

① The maximum loan amount is low, and the down payment for using provident fund loans is relatively high.

② When the provident fund loan is not settled, you may not use the provident fund loan to buy a suite.

③ The handling process is complicated and the deposit speed is slow.

Second, commercial loans.

Advantages:

① The loan amount is high and the service life is long, generally 30 years.

② Diversified repayment methods.

(3) fast lending and simple procedures. The general period from bank signing to loan review is 2 weeks.

People with stable income and good credit can basically apply for commercial loans, and do not need to pay them off in full within a certain period of time before the loan, like provident fund loans.

Disadvantages:

(1) If there is a loan record, it is a suite without a room in name.

(2) Don't lend to the third suite.

The repayment rate of commercial loans is higher than that of provident fund loans.

Third, portfolio loans.

Advantages:

① The loan interest rate is moderate.

② The loan amount is relatively large.

Disadvantages:

(1) Portfolio loans need to meet the application requirements of provident fund loans and commercial loans. Borrowers need to apply for provident fund loans first, and then apply for commercial loans, which requires a lot of materials to be prepared, complicated procedures and long time.

(2) After the borrower applies for a portfolio loan, a part of the commercial loan will be recorded in the personal collection system of the central bank. Suppose the buyer wants to buy another room, just be a suite. However, if the borrower directly uses the provident fund to buy a house, he only needs to pay off the loan for the first suite and then apply for a provident fund loan to buy a house, and then borrow according to the standard of the first suite.

Second, what kind of loan is good for buying a house?

The common repayment methods of loans are: equal principal and equal repayment (principal and interest). If the loan term is less than 1 year (inclusive), monthly repayment of principal and interest can also be adopted.

The average capital repayment method means that the borrower repays the principal in equal amount every month during the loan period, and the remaining principal is multiplied by the monthly interest rate (the interest amount decreases month by month) to calculate the monthly interest.

Matching (principal and interest) repayment method means that the borrower repays the loan principal and interest in equal amount every month within the loan term.

Under the condition that the national benchmark interest rate remains unchanged

Equal repayment: the total monthly repayment amount remains unchanged, which is convenient for you to remember. The principal part will increase month by month, and the interest part will decrease month by month, so the repayment pressure will be relatively small.

The total monthly contribution in the average capital decreases month by month, and the principal remains unchanged every month. At first, the repayment interest is relatively high, and the repayment pressure is relatively high, but it will save some interest than the equal repayment method (principal and interest).

Pay attention to which repayment method is suitable for you. I suggest you choose according to your own situation.

Third, which loan method is more cost-effective for buying a house loan?

1. How much can I borrow?

Suggestion: Commercial loans need bank approval, and provident fund can be calculated first.

"How many loans can you finally borrow? The final result is recognized by the bank. " When I first learned about this situation from the intermediary, Ahua, who was planning to buy a house, was thinking, what if she couldn't get enough money?

analyse

According to Mr. Zheng, generally speaking, if the down payment is 30%, 70% of the loan is the upper limit. The final approval depends on income, bank flow, family situation, work unit, etc. These factors ultimately determine whether the bank believes that you have the ability to repay the loan.

If it is a provident fund loan, it depends on the maximum amount of the provident fund deposit is 500,000, and the maximum amount of the two is 800,000 (currently Wuxi is 300,000, and the maximum approval amount of the two is related to the monthly provident fund amount, age and housing age.

Foundry account

Commercial loan amount: it is related to the applicant's bank flow, income certificate and other factors, subject to the final approval of the bank.

Provident fund loan amount: the minimum value of the balance stored in the housing provident fund account according to multiple conditions is the maximum loanable amount of the borrower. (Suspension of housing provident fund loans to employees' families for the purchase of third and above houses. )

The maximum loanable amount calculated according to the balance of the housing provident fund account

The calculation formula is: (balance of provident fund account ×2× monthly contribution of provident fund × statutory retirement months) × 22. The loanable amount calculated according to the maximum loan limit.

If one person applies for a housing provident fund loan, the maximum loan amount is 500,000 yuan, and if two or more people purchase the same house and apply for a housing provident fund loan, the maximum loan amount is 500,000 yuan.

3. For families (including loans) who purchase the first set of houses of 90 square meters or less according to the loan ratio, the down payment ratio of families with products of 90 square meters or more is not less than 20, and the down payment ratio is not less than 30%; For families buying a second home, the down payment is 1. 1 times the benchmark interest rate of the same level.

2. Choose provident fund loans or commercial loans?

Suggestion: provident fund loans are more cost-effective

"The Lord wants to get the money early, so he wants you to make a commercial loan." Xiao Song has long heard that the interest rate of provident fund loans is low, but what is this concept? Is it more cost-effective to borrow provident fund?

analyse

Now the public way, because the down payment of provident fund loans is low, if it is the first home loan, the down payment is 20%. In addition, the interest rate of provident fund loans is low, and the interest rate of housing provident fund loans is 4.45%, which is 4.9% for more than five years. Generally speaking, the restriction of commercial loans mainly depends on the lender's situation to determine the final approval result, and it is faster to handle. The average annual benchmark interest rate of commercial housing loans for less than five years is 6.704%, and the interest rate of the first home loan of some banks in the country for more than five years has a discount of 15%.

Foundry account

Take the purchase of the first suite and the loan of 500,000 yuan as an example. If it is a provident fund loan, the loan is 10 year, the monthly payment is 5, and the interest is 103770.4 yuan. If it is a commercial loan, the loan is 10 years, the interest rate is 8.5%, the monthly payment is 5549. 14 yuan, and the interest has been paid.

3. Is the down payment more or the monthly payment more?

Suggestion: I have more initiative in my spare money.

In a real estate sales center, a couple born after 1980s expressed their opinions on the road. In Oda's view, her husband is doing business and her income is unstable. Therefore, if you have money, you'd better pay more down payment, so that the monthly pressure will not be too great. But her husband thinks that 30% down payment is enough, and money has the initiative in hand. If you need money in the future, the cost of borrowing money from the bank will be much higher.

analyse

Generally speaking, if there is no good investment method, it is understandable to give all the money on hand down payment, and the monthly supply is lower. However, there is no money at hand. From the perspective of interest rate, if the house transaction is 6,543,800 yuan+0,000 yuan, we can borrow 700,000 yuan, but the actual loan of 500,000 yuan is enough. If you deposit money in the bank, the fixed interest rate for five years is 5.5%, and the interest rate for provident fund loans over five years is 4.9%. In other words, if you deposit this surplus money in the bank regularly and use the provident fund loan, you can still earn 0.6% a year. The interest rate of commercial loans over five years is 7.05%. Of course, the interest rate of time deposit is not enough to cover the cost of commercial loans, but if there are other investment returns, it can still be considered. Moreover, interest rates are changing, and with inflation and other factors, extra money can play a greater role in the short term.

Foundry account

If the total house price is 654.38+100,000 yuan, the down payment is 30%, and if you have 500,000 yuan on hand, the loan will last for 20 years. Take the provident fund loan as an example:

If the down payment is 50%, then the monthly payment is 3272.22 yuan, and the interest paid is 285332.86 yuan.

If the down payment is 30%, the monthly payment is 458 1. 1 1 yuan, and the interest paid is 399,466 yuan. If the remaining 200,000 yuan is deposited in the bank, assuming the interest rate remains unchanged, the interest every five years will be included in the five-year time deposit, and the total interest after 20 years will be 32,8531.33 yuan.

Then, the final income generated by paying less than 20% = the income generated by the bank deposit of 200,000 yuan-the interest generated by the down payment of 20% by the multi-loan bank = 2 14398.438+09 yuan.

4. Which repayment method is more cost-effective?

Suggestion: What suits you is the best.

"Is it better to repay the equal principal or the equal principal and interest?" Some time ago, Xiao Jian bought a second-hand house with a loan from Binjiang East, with a total price of 800,000 yuan. Xiaomi finally chose the average capital repayment method. "This repayment method has the highest repayment amount in the first month and will gradually decrease in the future. In this way, the pressure will become smaller and smaller. " However, some friends said that this is the traditional way of thinking of "bitter first, then sweet", which is not in line with the modern environment at all.

analyse

Average capital repayment method. This method has the highest repayment amount in the first month, and then decreases month by month, so this method is often called "decreasing method". In fact, the principal is the same every month, but the interest is different, from high to low. Equal principal and interest repayment method. This repayment method is to divide the loan principal and interest into several equal parts according to the loan term, and the monthly repayment amount is the same, so this method is often called "matching method". The repayment method of average capital seems to have less interest, but it is because of borrowing money that more interest is generated, which is somewhat similar to the down payment above. If there is a better investment channel, you may wish to use the equal principal and interest repayment method. If you have repayment ability and no other investment channels, average capital repayment method is more suitable.

Foundry account

Take the commercial loan of 6,543,800 yuan as an example. The loan term is 30 years, based on the interest rate. Then, if it is the repayment method in average capital, the maximum monthly payment is 8652.78 yuan in the first month, and at least 2794. 1 yuan in the 360th month, and the interest paid is 1060437.5 yuan.

Then, if the repayment methods of principal and interest are equal, the monthly repayment is 6686.64 yuan, and the interest paid is 1407 189.89 yuan.

5. Is the loan time long or short?

Suggestion: Of course, the longer the better.

"How sad it is to think that I have to pay my mortgage for the next 30 years!" Therefore, Xiao Song thought that if the loan is 20 years, if the monthly pressure is not too great, it is better to be a "house slave" for only 20 years. However, a friend who works in a bank told him that although the interest rate will be higher after 30 years of loan, the value of the same amount of money will continue to shrink considering inflation and other factors. Therefore, the longer you choose a loan, the better.

analyse

Because of inflation, in fact, borrowing money from the bank, the principal remains the same, but the interest is changing. The same is 700 thousand, and the ability to pay is different every year. It's like owing a bank a loan of 50 thousand 20 years ago. A mortgage of several hundred dollars a month feels a lot of pressure, but now it may just be a meal. So the longer the repayment period, the better.

However, some people think that if there is no good investment channel, in the case of high mortgage interest rate, the loan time is too long and the interest paid is also high. It's best to borrow for a short time and grit your teeth at ordinary times. It is worth mentioning that in the first few years of repayment, interest was mainly paid. If there is a plan to repay the loan in advance, it is more cost-effective to choose average capital repayment method, which can save more interest.

Foundry account

Take a commercial loan of 6,543,800 yuan as an example, with a monthly payment of 7,783.03 yuan and interest payment of 867.927 29 yuan for 20 years.

The loan is 30 years, with a monthly payment of 6686.64 yuan and interest payment of 1407 189.89 yuan.

4.202 1 installment payment?

Housing mortgage loan refers to a loan that an individual pays a certain proportion of down payment when purchasing a house with property ownership certificate and a house or commercial house that can be traded in the market, and the rest is applied to a cooperative institution with the property to be purchased as collateral. 202 1 housing mortgage loan process:

1. Submit a loan application;

2. Sign a house purchase contract;

3. Sign a house mortgage contract;

4. Apply for mortgage registration;

5. Open a special repayment account.