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Posts Tagged ‘home loans’

Mr. Jiang in early 2006 a set of high-grade residential mortgage loans of 50 million, 20-year loan period. Buy a house later, Mr. Jiang has experienced four rate hikes, from the initial 6.12% annual interest rate soared to 7.20% today, a month to more than the original interest rate was also 300 Yuyuan Li. Now mention of this matter, Mr. Jiang has not regretted his choice on the “fixed-rate mortgage products.

Since 2006, the central bank has been raising interest rates four times, many home buyers have people turn their attention to various commercial banks 推出 “fixed interest rate home loans. But the banks financial experts suggest that not all home buyers are suitable for the mortgage products, young people, investors and loan customers will need more careful selection.

In general, the standard fixed-rate mortgages are generally interest rate benchmark rate than the current number of mortgages in the early repayment, the repayment amount will be higher than the repayment of the amount of floating rate mortgages higher, so for those who currently economic strain, while the expected return better future for young people, floating-rate mortgage products may be more suitable.

Real estate investors are not suitable for the mortgage product. For them, perhaps a few years, the house will be sold out, but because buyers have to choose the initial fixed-rate and affordable housing more available, it will obviously increase the cost of the investment. Even those who support credit rental property investors do not need to select “fixed-rate mortgage because the mortgage interest of ups and downs, often reflects the rise and fall of the market also means that under the rent income was floating. With fixed interest rates their monthly costs, “locked, not having the rental income and its changes with fluctuations.

In addition, the loan amount larger customers in the selection of the business also requires caution. Most fixed-rate loans have a term of 3 years, 5 years, the longest 10 years, however, these repayment period relative to the loan balance is increasing, too short, then calculate the monthly repayment amount will be far beyond the scope of ordinary customers to bear. For them, it is best to take a fixed rate and floating rate combination.

Now more and more people purchase home, one-time pay the housing fund for the small number of people who, after all, most people are loans to buy a house. Loans to buy a house is a family a great long-term investment, how to repay loans were more economical, more reasonable, it is luxurious.

Assessment of borrowing capacity
Should first purchase their ability to conduct a comprehensive self-assessment before making a decision. How to assess it?

First of all, to see whether they have the purchase price of not less than 30% down payment, because the vast majority of real estate agency has asked the hard thick stick; Second, we must fully assess their monthly housing loan repayment of principal and interest will bear, namely: Monthly family income mainly refers to wages and other financial assets and strong cash monthly Bixu expense represents the Richangshenghuo necessary expenses and Beiyong funding gap Shipi than Zhufangdaikuan repayment of loans required monthly principal and interest.

Consumer preferably before the loan to the lending bank to ask about loan programs, such as a bank’s real estate loan department of housing loans in accordance with its long-term business experience and specialized surveys designed for consumers, “monthly family income and individual housing business loans to cross-reference table “that allows you generally have in mind the number. Recently, some banks new “zero down payment” mortgage loans, for those who have not had enough to purchase 30% down payment is good news for families, but also a corresponding increase in loans to households with a monthly repayment amount. Read the rest of this entry »

The end of 2007, the central bank for more than two sets of mortgage down payment practice to improve the ratio, while two sets (above) the benchmark lending rate on floating rate 10-15%, so many second home buyers back the heavy interest on the second suite. How to ease their stress? Department of Han and the two mortgage companies Yida teach you the recipe for practical measures.

Moves one: sell buy old new

Earlier this year, China Construction Bank and Shenzhen Development Bank provides has been closed and sold, new buyers of real estate can provide cards, sold that house tax and other material, may from time to calculate the second suite. Buyers can take advantage of this provision will be sold before the house, then buy a new house, or as long as China Construction Bank, Shenzhen Development Bank in handling the business, and sold ready documents, including the sale of the table after the search and transaction tax, etc., you can enjoy the preferential interest rate loans first.

Case: szsdwmr the original set of housing in Shenzhen and later work to Guangzhou, I want to buy a new house because the house is in Shenzhen before the loans buy a house, buy a house so once again became a second mortgage. Later Miss Qin find out that if she is willing to sell housing in Shenzhen and then to China Construction Bank, Shenzhen Development Bank, or the suites to do the second loan, you can still enjoy a “first set of mortgage” policy. So, later Miss Qin took Shenzhen sell, bought a second house in Guangzhou, the China Construction Bank handled the loan, and enjoy the benefits is the first mortgage.

Moves 2: The preferential interest rate of pure provident fund loans

There are three kinds of home loans — provident fund loans, commercial loans and portfolio loans. The current portfolio of commercial loans and loans for second home buyers are required to raise the down payment ratio and benchmark interest rates go up, but the four major banks were added to the second housing, the use of pure provident fund loans to buy second (or more) housing can enjoy the highest Qi Cheng loans, the provident fund interest rate discounts. Both husband and wife apply for the maximum amount of provident fund loans was 65 yuan, the highest amount of fund is 400,000 yuan loan applications.

Case: married Miss Zhong original set of two bedroom flats, has paid off the mortgage, because of job transfers subject to a three-bedroom home, Ms. Chung did not want the original sale. After calculation, she found that as long as the payment of the second suite 5 percent down payment, loan amount required in less than 650,000 yuan, so she applied for a couple the maximum amount of 650,000 yuan fund loan, with the 65 million building a second Suite loans. As a result, she enjoyed the provident fund interest rate discounts.

Meeting Han mortgage experts advise: for pure provident fund loans is important to note two points: if the applicant had a provident fund loans, repayment must be completed; but also understand the possibility of adequate fund for the amount, if they can not apply enough line of credit, will increase the purchase Housing down payment burden. Read the rest of this entry »