How many kinds of mortgage loans are there?

There are four types of bank housing loans: commercial loans, provident fund loans, discount loans and portfolio loans. In recent years, some new loan methods have been derived, such as financial mortgage and unspecified property mortgage. How to choose an affordable, worry-free and labor-saving mortgage method has become a compulsory course for buyers. Commercial loan, that is, "personal housing mortgage loan", refers to a repayment method in which the purchaser pays the down payment and the rest is paid by the bank loan, and the principal and interest of the loan are repaid on a monthly basis with the purchased property rights as collateral. Commercial loans require the borrower to have a stable income, have a legal and effective purchase contract or agreement, raise more than 20% of the house price by himself, and provide effective mortgage, pledge or guarantee to the bank. The loan amount generally does not exceed1000,000 yuan, and does not exceed 80% of the purchase price of the house; The longest loan period shall not exceed 30 years. Advantages:1; There are relatively few restrictive conditions; The application procedure is relatively simple; 2; The loan term and repayment methods are diversified; Disadvantages: high interest expense, ranking first among several mortgage methods. Suitable target: most of the buyers who have the demand of "the loan term is long enough to bear the pressure of repaying principal and interest". Housing provident fund loan Housing provident fund loan is a special loan that employees who deposit housing provident fund apply for with their own property houses as collateral. According to the current policy, the loan amount of provident fund is calculated according to 15 times of the balance of housing provident fund of the borrower's spouse or members with the same household registration and 2 times of the balance of supplementary provident fund. The maximum amount of a single loan is 300,000 yuan, and it does not exceed 70% of the total house price. The longest loan period is 20 years. The interest rate of housing provident fund loan is the lowest among personal loans at present. Advantages of provident fund loans: the interest rate is low, and tens of thousands of yuan can be saved in most cases. Disadvantages of provident fund loan: 1, complicated procedures and long processing cycle. 2. The initial cost is high. 3. The developer resisted. Almost all developers are reluctant to accept this form of loan with slow capital withdrawal. Some developers even use commercial loans and provident fund loans to "block" customers from using provident fund loans. Therefore, property buyers are often unable to complete provident fund loans because of the following circumstances: ① The developer does not accept provident fund loans, mainly because the cooperation between the developer and Beijing Housing Provident Fund Management Center has failed or terminated. Developers accept provident fund loans, but the discounts of different loan methods are different, so it is difficult for buyers to achieve the goal of "saving money" in the end. (3) The initial cost of the developer's provident fund loan is relatively high, and the procedures are cumbersome and take a long time, misleading buyers to give up using the provident fund. Suitable target: employees of enterprises and institutions who have paid the housing accumulation fund in accordance with the regulations before applying for loans and paid it continuously for 6 months or accumulated 12 months or more. Portfolio loan Personal housing portfolio loan refers to that when the borrower's application for housing provident fund loan is insufficient to pay the funds needed for house purchase, the insufficient part applies to the bank for commercial housing loan. The combination of the two is called portfolio loan for short. Some commercial housing loans are implemented at the interest rate of individual housing mortgage loans; The housing provident fund loan part is implemented according to the individual housing provident fund loan interest rate. The sum of portfolio loans does not exceed 80% of the total house price, and the longest loan period is 30 years. This kind of housing loan has the same requirements for borrowers as provident fund personal housing loans. Advantages of portfolio loan: it can meet the diversified needs of borrowers in loan amount and time. Disadvantages of portfolio loan: 1 It is more difficult to apply for provident fund loans. 2. The procedure is more complicated and the cost is higher. Property buyers not only have to complete the two procedures of commercial loans and provident fund loans, but also pay double fees (commercial loans include legal fees and insurance premiums; Provident fund loans include guarantee fees and evaluation fees. It is worth noting that some are charged according to the loan amount, and some are charged a fixed fee for each business. Suitable target: all borrowers who have paid the housing provident fund in accordance with the regulations and have the conditions for personal housing commercial loans.

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