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Posts Tagged ‘mortgage loans’

Since 2004, the mortgage has gone through two adjustments. A set of mortgage loans 800,000 yuan, 20-year housing loans to commercial terms, in equal installments of principal and interest repayment method manner, and now will have to pay 120 yuan a month or so. In the continuing psychological impact of interest rates, the more buyers began to compare interest rates, looking for their own loans.

Fixed rate and floating rate comparison
After tightening, the solid credit interest rate will be adjusted, China Merchants Bank, China Construction Bank to raise benchmark interest rates fixed. Floating mortgage rates lower still solid credit obvious advantages. After the hike, more than 5 years floating rate loans rose to 6.39%, higher than the current 10-year Everbright Bank of solid loan rate 6.08-6.38%. But for high-quality customers, apply for loans is still floating cost-effective than fixed loans. Taking into account the central bank floating rate of 10% lower limit, bank customers more than 5 years of quality floating-rate mortgage was 5.751 percent adjustable, Everbright Bank of incentives than the current fixed-rate mortgage of 6.08%, floating rate mortgages or low.

The advantages of solid loan-to-
Biggest advantage is that we can help home buyers risk locking the interest rate fluctuations, particularly in the case of interest rates generally bullish, once buyers have signed contracts with banks, no matter what the central bank changes interest rates, home buyers in accordance with the contractual rate of repayment , without movements.

Fixed loans for people
Comparison of a fixed interest rate for three groups
First, understand the financial markets, judging sharp movements in interest rates, that interest rates on a rate hike in China, to bear certain interest rate risk;
Second, income is high and stable, can resolve shorter repayment period repayment brought greater pressure on the buyers interest rate changes resentment;
Third, the investment off, especially for the purchase of commercial real estate clients, as investment in fixed-rate mortgage you can lock in the interest rate risk.
It is worth mentioning are: discount rate (interest rate floor) only for the implementation of quality customers, that the credit rating of A or above, or civil, administrative public sector employees, teachers, researchers, doctors, lawyers, financial sector workers and other people. Read the rest of this entry »

Low interest rates, percentage of high, long term, currencies freedom of choice and human services, are differences in foreign bank mortgage bank personal advantage. Currently, foreign banks with personal loan business is dominated by those outside of the Chinese people buy a house mortgage services has not yet commenced. End of this year, the business will gradually opening to foreign banks in mainland China can choose to apply for mortgage buyers.

Low interest rates to help you save money
Relative to domestic banks, foreign banks can be a longer lower interest rates. Currently, the U.S. dollar or HK dollar prime lending rate to 3.45% even, VIP can also enjoy the benefits of more than 1 percentage point (usually takes the bank deposits 500,000 Hong Kong dollars or 5 million). Therefore, those loans to buy a house for foreign and Hong Kong, Macao and Taiwan, the more likely in U.S. dollars.

Number of loans into high
Some Chinese banks on the property with the age, geographical restrictions and the second purchase. The old house loans, for example, domestic banks can do basically 5 percent, foreign banks can do about the total price of 6 percent. Now those loans to buy a house for foreign and Hong Kong, Macao and Taiwan, will choose a higher proportion of the number of foreign banks into lending. Of particular note is that foreign banks are not among the information network. For example, Standard Chartered bank loan to buy your first suite, and immediately after the Dutch bank in the second suite of applications for loans, your loans into a second number, and interest rates will not be in front of a house loans. Read the rest of this entry »

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.

In addition to fund loans, the banks can now offer mortgage loans, known as commercial loans. And the fund compared to the prerequisites for business loans less: No advance, no need to balance the constraints, it appears unlikely the application is rejected 情形. Commercial loans have the following main areas to note.

Limit: not more than 70% of total house Commercial loans from a sense, is not capped; but generally not more than 70% of the total amount the house. If the application and the provident fund loans at the same time, claimed that “combination loans”; two-phase accumulation, or not more than 70% of total housing. For example, house one million, in any case, the maximum loan amount is 700,000, 70 miles first, in addition to part fund loans, the rest can all apply for commercial loans.

Proof of income: to be! Commercial loans and fund loans or slightly different. The latter is paid according to the proportion of wage income, so the balance Duo Shao, payment of the amount of months, basically able to respond to a Ren’s incomes Shui Ping Chu, a bank for small 部分 net exempt income fund Daikuan even Ke Yi Zheng Ming. But for commercial loans, almost all of the bank will ask borrowers to show proof of income. The company stated that in addition to the duties of a continuous length of service, after-tax last year than the average monthly income, but also asked to leave the proof issued by the relevant contact, telephone number, and finally to increase unit official seal. Some strict bank, will add an “if provided is incorrect, should bear joint and several liability” and the like. In fact, this proves only one purpose is to show that you have sufficient repayment capacity! – Provided that you have to ensure normal life. Therefore, the monthly repayment amount can not generally exceed 50% of your monthly income, this figure to 60-65% in some banks to relax. Read the rest of this entry »

It is understood that when the transactions go through a bank housing mortgage loans, mortgage registration, the Housing Authority will conduct a house mortgage information for the record, the owners did not pay off the loan before the release of mortgage, the house owners to trade against the transfer.

When the owner after the loan is repaid in full, will receive reimbursement of real estate bank card, other rights registration certificate, proof documents Obliteration mortgage information, property owners along all the information you can go to the Housing Authority to conduct mortgage Obliteration registration. Only the completion of the Housing Authority of the mortgage registration of cancellation, the house be considered truly “clean record” in order to carry out the transfer of property rights. So, Mr. Wen was the beginning of the transaction to stop the Housing Authority, is one such reason.

Pay off the mortgage loans should be wiped clean as soon as possible

Yida mortgage, according to the persons concerned that since our country home loan mortgage owner most of the state-owned banks or commercial banks, bank credit high, so even if the owners pay off the mortgage in less than the Housing Authority mortgage registration of cancellation , the risk is minimal. However, the chance of the house changed hands, while the safe side, experts recommend paying off the mortgage loan, best mortgage registration of cancellation or whatever. On the other hand, if the house is mortgaged to private, personal credit is difficult to estimate because it pay off the loan, the owner must bear in mind to go on the mortgage registration of cancellation, or higher risk.

The mortgage experts have reminded the general public, in order to reduce purchase risk, before they buy second-hand housing, better to go to the Housing Authority searches, sure you are buying second-hand house is “clean record” non-exposed room before arrival can be purchased.

Obliteration of a charge without payments, and no time limits

It is this reporter’s knowledge, the present public house mortgage Zhengming to Obliteration, Chu Le, Liwan District, Haizhu District, and the owners may apply to the District Housing Authority Wai, city in the region were the owners of the other districts of Guangzhou City, the Housing Authority should be to handle Jiaoyizhongxin. Also, go through the procedure without payments, and no time limit, so even if the pay off the loan several years ago but have not yet registered mortgage of cancellation, you can also apply for the Housing Authority.

In the process of cancellation charge to prove, the Housing Authority received the relevant documents and information including: real estate his original application for registration of rights, real estate license original copy of the owners identity, proof of the original mortgage, etc. Obliteration. It is understood that the Urban Council in the application, card holders and buyers of real estate mortgage contract be a day of cancellation; in construction and land use right mortgage takes about 3 working days of cancellation, and the District Housing Authority it would take slightly longer to process.