There are several types of loans for buying a property

What are the types of loans for buying a house?

Loan to buy a house mainly has a provident fund loan to buy a house, a commercial loan to buy a house, a combination of loan to buy a house several ways 1. full payment to buy a house

full payment to buy a house is all the way to buy a house in the lowest interest rate, the developer of the full payment of the buyer's preferential discounts are greater than all the loan to buy a house, for the developer to recover the money fast. But for the buyers of the capital pressure, although you can save a lot of interest on the loan, but the full payment of the demand for a large amount of money is the average family can not afford.

2. Provident fund loan to buy a house

Provident fund loans than commercial loan interest rates are low, for the buyer of funds less pressure, some of the higher provident fund buyers do not have to repay a few years, directly from the provident fund account deduction. However, the procedures for the loan is more cumbersome, slow disbursement, not only on time and full payment of provident fund for a certain number of years before you can use, there are also some restrictions on the property.

3. Commercial loans to buy a house

Commercial loans relative to the CPF loan loan procedures are simple, fast disbursement, there are no restrictions on the buyer, basically can use commercial loans to buy a house. However, the interest rate is higher, relative to the CPF loan for home buyers have some economic pressure.

4. Combination loan to buy a house

Housing Provident Fund Management Center can be issued by the provident fund loan, the maximum limit is generally 10-29 million yuan, if the purchase price exceeds this limit, the shortfall to the bank to apply for a commercial housing loan. These two loans together are called a combination loan. This business can be handled by the real estate credit department of a bank. The combination loan has a more moderate interest rate and a larger loan amount, so it is more often used by borrowers.

However, if a borrower applies for a combination loan and then buys a home again, it will be counted as a second home. If you use a CPF loan to buy a house directly, as long as the borrower pays off the loan for the first suite, and then applies for a CPF loan to buy a house again, the lending will still be based on the same criteria as for the first suite.

What are the ways to buy a house loan

Loan to buy a house is now a common practice, the loan can be for the buyer to reduce the burden of a lot of people, easy to live in a new house. However, the loan to buy a house also need to choose the right method, then buy a house loan which way? Come together to learn more about it! CPF and commercial loans combined together is known as a combination of loans, this type of loan moderate interest rates, the loan amount is large, so most people prefer this type of loan. \r/n\\r/n\r/n2.After the application is made, the bank will review the lender's information, the actual condition of the house, and whether it meets the conditions of the loan. After the audit is passed, you can sign the loan contract and mortgage contract, note that before that you have to maintain good credit in order to pass the audit successfully. \r\n\\\r\n\\\\3. After signing the contract, you can go to the title department for the formalities of the loan guarantee, and then go to the lending bank to apply for the home insurance formalities together with the loan contract, the mortgage contract, and the certificate of mortgage. \r\n\\\\r\n\\4. After that, you have to sign a repayment agreement with the bank, usually the repayment is made by savings card deduction, the lender can choose the appropriate repayment period, the bank will calculate the monthly payment, the lender just has to repay the loan according to the time stipulated in the agreement. There are many ways to buy a home loan, each way of loan interest rates are different, so you can try to understand more about these ways before the loan.

There are several types of ways to buy a home loan

Legal subjective:

Personal housing loans are loans issued by banks to borrowers for the purchase of ordinary housing for their own use. The borrower must provide security when applying for a personal housing loan. At present, there are three main types of personal housing loans: entrusted loans, self-employed loans and portfolio loans. (a) Individual housing portfolio loans refer to loans issued to the same borrower for the purchase of ordinary housing for self-use from housing fund deposits and credit funds, and are a combination of individual housing entrusted loans and white-collar loans. In addition, there are housing savings loans and mortgage loans. (ii) Individual Housing Entrusted Loan refers to a loan issued by a bank under the entrustment of the Housing Provident Fund Management Department with the deposits of the Housing Provident Fund as the source of funds and in accordance with the stipulated requirements to an individual purchasing ordinary housing, also known as Provident Fund Loan. (c) Individual housing self-owned loans are loans issued to individual homebuyers using bank credit funds as the source of funds. Also known as commercial personal housing loans, the name of the loan varies from bank to bank, with the Construction Bank known as the personal housing loan, and the Industrial and Commercial Bank of China and the Agricultural Bank of China known as the personal housing guarantee loan.

Legal Objective:

Interim Measures for the Administration of Personal Loans, Article 11, Personal Loan Application shall have the following conditions: (a) the borrower is a citizen of the People's Republic of China with full capacity for civil behavior or a natural person outside the country who meets the relevant state regulations; (b) the purpose of the loan is clear and lawful; (c) the amount of the loan application, the period and currency are reasonable; (d) the borrower has the willingness and ability to repay the loan; (e) the borrower has a good credit standing and no major adverse credit records; (f) other conditions required by the lender. Article 12 The lender shall require the borrower to submit an application for a personal loan in writing and request the borrower to provide relevant information that can prove that the borrower meets the loan conditions.

Which ways to buy a home loan

Since housing prices have risen so much, many people in the purchase of a home in the form of a loan will choose to do so, so that only need to come up with enough money for the down payment can be, at the same time the pressure is also smaller, but for many first-time buyers, necessarily not clear about the way to buy a home loan what the following small make-up for you The first thing you need to know is how to buy a house, and how to get it done.

There are several ways to buy a home loan

1, housing fund loan

From the present point of view, many companies will pay for employees five insurance and one gold, which is the so-called one gold is to refer to the provident fund, for the residents who have been participating in the payment of housing fund, loan to buy a home, you should prefer low-interest loans for housing fund. Housing provident fund loans with policy subsidies, loan interest rates are very low, not only lower than the same period of commercial bank lending rates, and to be lower than the same period of commercial bank deposit rates.

2, personal housing commercial loans

Of course, for the lack of some of the payment of provident fund personnel, in the purchase of housing, it is recommended to apply for a commercial bank personal housing guarantee loan, that is, bank mortgage loans. As long as the balance of deposits in the lending bank accounted for no less than 30% of the amount of funds required to purchase housing, and this as a down payment for the purchase of a home, and there are assets recognized by the lending bank as collateral or pledge mortgage loans.

3, personal housing portfolio loan

Generally speaking, the maximum limit of the provident fund is 100,000 to 290,000 yuan, so if in the purchase of a home, is more than this amount, the shortfall will need to apply for a commercial housing loan to the bank. These two loans together are called a combination loan. This business can be handled by a bank's real estate credit department.

What are the steps to buy a home loan

First of all, you need to buy a home to meet certain conditions, usually, the proportion of the down payment will be in accordance with the number of housing units owned by the buyer and the loan record and so on, and other situations, in addition to the restriction on the purchase of the city of the first suite of the proportion of the down payment of more than 30%, the buyer can be in advance to the local bank to consult, of course, in the application of the commercial loan before you try to will be The material is fully prepared to avoid wasting time in the application process, these materials mainly include ID cards, household registers, proof of income, proof of the last six months of running water.

Summary: Well, the above is about the purchase of a home loan there are several ways to introduce the content of the introduction, I hope to provide you with some help, I believe that in the future in the purchase of a home loan there are several ways to understand the process, the friends will be more comfortable, to get their own satisfactory answer.

What are the ways to buy a home loan?

There are three ways to buy a home loan:

Housing Provident Fund Loan 2.Personal Housing Commercial Loan 3.Personal Housing Combination Loan.

I. Housing Provident Fund Loan

Housing Provident Fund Loan refers to the housing mortgage loan issued by the local housing provident fund management centers by using the housing provident fund paid by the employees with their units and entrusting the commercial banks to issue housing mortgage loans to the active employees who have contributed to the housing provident fund and the retired employees who have contributed to the housing provident fund during the period of their employment.

Housing provident fund refers to the long-term housing reserves paid by state organs, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises and institutions and their active employees.

The housing provident fund contributed by the employees and the housing provident fund contributed by the employees' units for the employees are the personal reserves saved by the employees in accordance with the regulations and used exclusively for housing consumption expenses, which belong to the employees. The balance of principal and interest is paid in one lump sum when the employee retires and is returned to the employee.

The categories of housing fund loans are: new home loans, second-hand home loans, self-built home loans, home renovation loans, commercial housing loans to provident fund loans and so on.

Compared with commercial housing loans, housing fund loans have the advantages of lower interest rates, flexible repayment methods and low down payment ratios, while the disadvantages are cumbersome procedures and long approval time.

Second, personal housing commercial loans

Personal housing commercial loans are a kind of loans that Chinese citizens apply to banks for purchasing commercial housing, and they are self-operated loans issued by banks with their credit funds.

Specifically, it refers to the housing commercial loan applied to the bank by a natural person with full capacity for civil behavior, who, when purchasing urban owner-occupied housing in the city, takes the title of the housing purchased by him/her (or other guarantee recognized by the bank) as a mortgage as a guarantee for repayment of the loan. Mortgage is a type of loan in commercial loans.

The above two types of loans are limited to the use of the unit employees who have paid the housing provident fund, and there are many restrictions. Therefore, those who have not contributed to the Housing Provident Fund have no chance to apply for a loan, but they can apply for a commercial bank personal housing guarantee loan, which is also known as a bank mortgage loan.

As long as you have a balance of deposits in the lending bank of not less than 30% of the amount of funds required to purchase housing, and this as the down payment for the purchase of a home, and there are assets recognized by the lending bank as a mortgage or pledge, or there is sufficient ability to pay the unit or individual as a guarantor of repayment of the principal and interest of the loan and joint and several liabilities, then you can apply to use the bank mortgage loan.

Applying for a commercial loan for personal housing should be noted:

1, the existing economic strength of the family to make a comprehensive assessment, in order to determine the proportion of the downpayment and loan. The loan amount approved by the bank is generally speaking less than or equal to the loan amount applied for, to avoid the loan amount is insufficient to cause the house sale contract default.

2. Make reasonable expectations of your family's future income and expenses. It is prudent to make loan and repayment plans. If your expected income is at risk and you have large expected expenditures, it will weaken your repayment ability, thus affecting your repayment creditworthiness.

3. Budget for repayment capacity. Repayment ability is an important basis for determining the amount of loan available, which is calculated as follows: the balance of the average monthly household income minus the average monthly household expenditure, taking into account the possible changes in income and expenditure when calculating.

4. Budget the maximum affordable loan amount. The loan amount whose monthly repayment capacity is equal to the monthly repayment amount is its maximum affordable loan amount.

5, the principle of generosity of the down payment. The down payment should not use up the cash on hand, but should leave funds for renovation, configuration, repayment, investment and start-up costs.

6, assess the loan eligibility of the house you buy. If the house is too old, the loan-to-value ratio may not meet your requirements, and there are some houses that banks do not lend, such as foreclosed houses. So as not to be able to loan or loan amount is insufficient to affect your home purchase plan, and even because of the loan can not pay the seller of the house and cause default.

Three, personal housing portfolio loan

Personal housing portfolio loan means that, in line with the conditions of personal housing commercial loan borrowers and at the same time pay housing provident fund, in the application for personal housing commercial loan at the same time can also apply for personal housing provident fund loan, and the borrower to the purchased city urban owner-occupied housing (or other bank-recognized security) as a collateral can be at the same time to the Banks to apply for individual housing provident fund loans and individual housing commercial loans.

With the deepening of the reform of the housing system, the awareness of individual home purchase loans from banks is also growing. Housing provident fund loans and commercial loans consisting of a combination of individual housing secured loans, has become the construction of a good housing financial system and China's implementation of policy and commercial housing finance development needs.

The housing fund management center can be issued by the provident fund loan, the maximum limit is generally 10-29 million yuan, if the purchase price exceeds this limit, the shortfall to the bank to apply for housing commercial loans, the two loans together called the combination of loans.

This business can be handled by a bank's real estate credit department. The combination loan has a more moderate interest rate and a larger loan amount, so it is more often used by lenders.

The three types of loans for buying a house are comparatively the most cost-effective, while personal housing loans (commercial loans) carry the heaviest interest burden.

The conditions that an applicant for a home buyer's loan should have are as follows:

1. 18 years of age or older, with full capacity for civil behavior, and legally valid proof of identity.

2, have a stable income, with the ability to repay the loan principal and interest on schedule.

3. Agree to use the purchased property as collateral.

4. Have signed a real estate sales contract with the developer.

How many types of loans are there for buying a house and what are the interest rates?

There are two types of loans for buying a house, namely commercial loans and personal provident fund loans, with interest rates as shown below:

1. The benchmark annual interest rate for commercial loans: 0-6 months (including 6 months), APR: 4.35%; 6 months-1 year (including 1 year), APR: 4.35%; 1-3 years (including 3 years), APR: 4.75%; 3-5 years (including 5 years), the annual interest rate: 4.75%; 5-30 years (including 30 years), the annual interest rate: 4.90%;

2, personal provident fund loan prime rate: five years, including five years of short- and medium-term loan prime rate is 2.75%; more than five years of long-term loan prime rate is 3.25%. But the loan interest rate is also based on the lender to apply for business varieties, credit status, guarantee mode and other factors for comprehensive assessment.

The process of buying a house with a loan

1, understand the credit situation

First of all, if you want to buy a house with a loan, the buyer should check whether his personal credit is in line with the conditions of the loan, free of the house is also good, and is ready to buy only to find out that he is not qualified for the credit, and is in a more passive position.

2, understand the bank

Before applying for a loan home buyers can first go to the bank to consult, ask the conditions of the loan application, interest rates, approval time, disbursement time, etc. How much, and then compare, select a cost-effective bank.

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