Mothers-in-law say that if you want to get married, you must buy a house. Therefore, buying a house can be said to be the top priority for those born in the 1980s and 1990s. However, for people who do not have much savings, this is a very difficult matter, so there are A friend of mine wanted to know if he could use a bank card to borrow money to buy a house. The editor below will introduce to us whether a credit card can be used to get a loan to buy a house?

Bank regulations for credit card loans to buy a house

As we all know, a bank card is equivalent to a bank card provided to the cardholder. For a consumer loan, the cardholder can swipe the card to make a purchase or withdraw cash within the available range of the bank card. Therefore, buying a house with a bank card loan can be regarded as taking the bank card directly to the real estate company to swipe the card to make a purchase. Of course, this condition must be supported by policies.

It is understood that some banks’ bank card application contracts or regulations only require that bank cards shall not be used to invest in the stock market, futures market and other markets, and shall not be used to evade taxes or avoid debts. illegal activities such as payment of funds, money laundering, cash withdrawal, production and operation overdrafts, etc.

As for the issue of house purchase, there is no clear explanation, which means that bank cards can be used to borrow money to buy a house. Many real estate companies also stated that banks do not stipulate that bank cards cannot be used to purchase houses. It is actually very simple to use bank cards to purchase houses, just like purchasing other products, just swipe the card.

How to apply for a credit card loan to buy a house

Although bank cards can buy a house, there are still some issues to consider in the process of buying a house. For example, is it better to swipe a bank card directly or use a bank card to buy a house? A few bank cards to pool the money. Here, the editor suggests that when buying a house with a bank card, it is best to swipe 2 to 3 bank cards. After all, even the down payment will cost tens of thousands of yuan. If you pay directly with a bank card, it is very easy for the bank to risk control you. It is cashing out, which is not cost-effective. Using multiple bank cards to collect the down payment can avoid this danger.

In addition, one advantage of using a bank card to buy a house is that you can handle the installments after the bill comes out to relieve financial pressure. If the fixed limit is not enough, you can also call the bank card customer service to request an adjustment to the temporary limit. The temporary limit can usually be increased by 50%-80%. It should be noted that the temporary limit has a validity period, usually 1- For 2 months, after using the temporary limit, installments cannot be processed and repayment cannot be made according to the minimum repayment amount. It must be paid off in one go.

Swiping a bank card to pay the down payment does not accumulate points. Cardholders should also swipe the bank card according to their own repayment level. Do not spend too much in advance to avoid being unable to repay in time and causing the bank card to become overdue and bear interest and late payment fees. It may even affect your personal credit record.

Is it cost-effective to buy a house with a credit card loan?

Whether it is cost-effective to buy a house with a bank card depends on the interest rate. Here is a comparison between the bank card bill installment rate and the general bank loan interest rate. .

Based on the installment payment calculation of 150,000 yuan with Everbright Bank Card, divided into 12 installments, the handling fee calculated in one year is 10,500 yuan, which is equivalent to an annual interest rate of about 7%, and the current benchmark interest rate for one-year loans is 6%. It can be seen that although bank card installment payments can solve urgent tasks, the interest rates are much higher than those of ordinary bank mortgages.

If you are short of funds but need to buy a house, you can refer to the article written by the editor above about whether you can get a loan to buy a house with a credit card as an emergency, but you also need to control the repayment risk.