This article is a study note-type article, aiming to deepen the understanding of credit loans, mortgage loans and credit cards.

The full text is 5,000 words and takes about 15 minutes to read and digest. It can provide you with solutions to problems such as large consumption, urgent need to buy a house, real estate investment, and fund shortages.

By referring to other people’s experience and one’s own understanding, we can conclude that reasonable use of credit loans (identity), mortgage loans (assets), and credit cards (credit) can increase wealth leverage within a safe range and make fund utilization more efficient. conclusion.

(The title is just a gimmick, please do not take it seriously o(╯□╰)o)

In addition, it also gives an in-depth explanation of the small credit advertisements that are often seen in daily life. Probably looks like this?

Before explaining the subsequent content, several key words need to be clarified.

Personal credit report: To put it bluntly, a credit report is equivalent to a personal economic "ID card". If it involves various types of loans, credit card approval, and future expansion into other public service areas , institutions refer to this credit report to evaluate our situation.

As shown in the figure, the credit report header of the user version of the People's Bank of China summarizes the approximate data of the credit report in the form of a table.

For example:

I once had a stain on the newspaper because my ICBC credit card SMS service fee was overdue for less than 3 months, which almost affected the approval and issuance of a mortgage. There are friends around me who have already completed the down payment and other procedures, but cannot be approved for a loan because the Hong Kong Economic Times has an overdue record of more than three months. All of the above, personal experience, remind everyone not to protect their credit report records.

Personal credit reports mainly focus on: number of overdue payments, total credit amount, number of approval inquiries and other credit status data.

For more information, you can click on this popular science article to read: 3 minutes will take you to fully understand the credit report

Calculation and misleading of interest rates: Based on the fact that everyone is very smart, merchants and Banks are also starting to play tricks. These concepts require a general understanding.

Interest first, principal later: During the loan period, only the interest is paid, and the principal is paid last.

Equal principal and interest: During the repayment period, the same amount of loan (including principal and interest) is repaid every month.

Equal principal amount: It is to divide the total loan amount into equal parts during the repayment period, and repay the same amount of principal and the interest generated by the remaining loan in that month every month. You pay back more in the beginning, but less in the end.

Installment rate: This is a big pitfall. The installments are basically equal principal and interest. For example, the installment rate for 12 installments is 0.6%/month. Since the principal + interest are repaid every month, the utilization of the total funds is reduced month by month, and the actual annualized interest rate is not 0.6*12=7.2 %, but 13.29%. I won’t go into details about the conversion process, but let’s just talk about the conclusion: annualized interest rate = monthly installment rate * 12 * 2n / (n + 1), where n is the number of installment months.

Daily interest rate of 10,000 yuan: How much interest is per day on 10,000 yuan.

5 cents per cent is a folk saying. That is, 10 centimeters = 1 point. 1 point is equal to 1% monthly interest, equivalent to 12% annualized

Generally speaking, because currency is always depreciating, so interest first, then principal > equal principal and interest > equal principal, when converting the installment fee When determining the interest rate, you can roughly calculate the installment rate * 24 directly

Credit loans, as the name suggests, refer to loans issued based on the creditworthiness of the borrower, and the borrower does not need to provide guarantees. Its characteristic is that the debtor does not need to provide collateral or third-party guarantees to obtain a loan based only on its own creditworthiness, and the borrower's creditworthiness is used as a guarantee for repayment.

Alipay and various P2P loans that everyone is more familiar with belong to the category of credit loans.

Referring to the interest rate level of credit loans, it can be divided into five grades. The details are shown in the following table:

It can be seen that high-quality customers have low risks and can enjoy the best discounts. Those with poor credit status often have to pay higher capital costs and turn to small loan companies or P2P for help.

At the same time, there is a blind spot for everyone in credit loans, that is, not all credit loan approvals are immediately reflected in the news reports. Some credit lines are approved and will not be reported to the credit report if not used. This adds some hidden gameplay.

This form of credit loan is collectively referred to as a reserve credit loan below.

The credit loans in the table are basically reserve credit loans, that is, you can apply for them. A certain amount is pre-authorized in the bank system. As long as you don't withdraw it yourself, it will not be on your credit report. Moreover, based on the experience of other posts, currently most banks will not affect the issuance of other loans (such as home loans) to customers who have applied for credit loans.

In summary, high-quality customers (civil servants, public institutions, teachers, doctors, etc.) can easily obtain credit loans at an interest rate of 6%-8%, and because each bank approves them individually , you can apply for credit loans from 2 or even 10 companies at the same time.

TIP: Credit loans have strict compliance requirements. They must be reliable and liquidity must be ensured to prevent banks from withdrawing loans.

For example:

Wang Nima is a civil servant in a certain agency. His credit report is very clean (no credit card, no loan, no overdue anything). He went to three banks to apply for credit loans. The bank took a look and saw that the diamond king Laowu who gave away money (interest) was here. He didn't have to worry about loans, loans, loans, loans, 5.8% for 200,000, 6.52% for 300,000, and 7.2% for 250,000. In half a month, Wang Nima received a credit line of 750,000, with an annual interest rate between 6% and 7%.

At this time, he discovered that the National Day was coming, and the interest on reverse repurchase of government bonds soared to 14%, so he quickly put aside 200,000 to buy it for 10 days. Soon, based on the interest rate difference of 200,000 and 4.2%, he earned 1,60 tea money in 10 days.

After some time, his brother-in-law's business expanded and he needed a sum of money. Without saying anything, he took out another 300,000 yuan and lent it to his brother-in-law at 10% interest for one year. Over and over again, one year later, a net profit of 10,440 was made.

Wang Nima controls risks reasonably and resolutely refuses to invest in high-risk industries such as stocks, gambling, and P2P. He only works on content that he is familiar with. Over the past few years, credit loans can also bring him a lot of extra money. Income, personal financial intelligence and experience have also been well exercised.

In actual operation, the approval of credit loans is not as simple as in theory. The bank has a complete credit review mechanism. In addition to the internal review of the applicant, the bank will also refer to the information of the personal credit report. It mainly examines three aspects: willingness to repay (work, education, marriage), repayment ability (income, assets, work, education) and purpose.

Everyone’s situation is different and cannot be standardized. However, there are still rules that can be followed in terms of bank operating regulations.

As shown in the figure below: (Source: Bingshan Real Estate Index)

Another example:

Wang Nima has a friend named Chen Amei. Business establishment, just graduated 1 year ago, still an amateur (with no credit). He is considering applying for more credit loans to avoid having to use money temporarily. At this time, as shown in the picture above, the order of her application should be the first batch (2,3,5), the second batch (4), the third batch (7), and the fourth batch (1,6).

The reason for this order is that each bank has different limits on the number of credit approval inquiries. Apply first to banks with strict credit approval inquiry times, and then apply to banks with looser requirements.

In actual operation, you can also apply first to a bank with a higher grant limit, and then apply to a bank with a lower grant limit. It is not necessary to pursue more than one bank. Sometimes, the limit may be higher for a few banks.

From this example, we can also see that you should not apply for a credit card randomly because every time you apply for a credit card, the bank will go to the credit reporting system to check your credit status, which will be included in the credit report. be reflected.

Of course, if there are too many applications, there are ways to crack it. It is just that you need to wait for a period of time and maintain the letter to make it look better.

Smart people must have thought that since credit loans can be used for consumption, is it okay to use them for down payments? The official answer is of course no.

If you search for news, you can see the current development of credit loans. For example, Xinhua News Agency, Beijing, October 2nd, titled "After the road to the property market is blocked, how can consumer finance find a formal path?" ” clearly illustrates that in recent years, credit loans have entered the real estate market in the name of consumption.

This situation is something the country does not want to see, because the essence is that when people pay 30% down payment to buy a house, they use 30% of the money and leverage 100% of the capital.

If the down payment is also borrowed, the leverage suddenly increases from 3.3 times to 10 times or even as much.

Once house prices fall to a certain level, Japan's bubble economy period will occur. The value of the house will << pay the arrears, and a large number of people will abandon the loan, which will cause a series of bad debts and affect financial security.

Referring to Mr. Grasshopper’s article, in fact, there are policies from above and countermeasures from below.

Another example:

The "Notice of the Beijing Banking Regulatory Bureau on Risk Warning in the Field of Personal Comprehensive Consumer Loans" issued by the Beijing Banking Regulatory Bureau in 2014 once restricted consumer loans. It is limited to 1 million yuan and the term is limited to 10 years. This is to curb illegal fund speculation in real estate.

However, the reality is that three innovations have appeared in the market:

1. A couple can lend 2 million together;

2. Lending through trust channels, banks Fund loan of 1 million + trust fund loan of The reason is that this business is also a business that banks value. The security risks are relatively low and the business profits are relatively high. There is no reason not to do it.

SO, there is a picture of shrinking credit loans that has been circulated recently, and we are waiting for banks to take action.

Housing mortgage loan means that the borrower uses his own or a third party's property as collateral. And repay the principal and interest to the bank in installments with a stable income, and before the principal and interest are repaid, use its property ownership certificate as a mortgage to the bank. If the home buyer cannot repay the principal and interest within the time limit, the bank can sell the house to offset the debt. payment.

In actual operation, mortgage loans are divided into personal loans/company loans. Depending on the lending institution, they can also be divided into banking institutions and non-bank institutions. According to the number of mortgages, it can also be divided into mortgage loans and second mortgage loans.

Similar to credit loans, mortgage loans have strict compliance requirements. Banking institutions have lower loan interest rates, and those with poor qualifications can seek loans from non-bank institutions.

Mortgage loans have lower personal credit requirements than credit loans, mainly because they have certain requirements on assets and repayment ability. The interest rate level is usually more than 30% higher than the benchmark interest rate. The limit can generally be given to 70% of the house price, and the loan period ranges from 1 to 10 years. Some 30-year loans also have age requirements for the borrower.

The main channels for second mortgage loans include banks, non-bank institutions and some pawn shops. Naturally, banks have the most favorable costs. Bank second mortgage loan requirements:

1. The general age requirement is within 30 years; 2. The first mortgage is a bank loan; 3. The personal credit and repayment ability are good; 4. The loan amount is generally the total amount of the property 50~70% of the price minus the total contract amount of the existing loan.

In comparison, banks have relatively few second-offset products, the loan period is relatively short, and the interest rate is relatively high. But it is very suitable for real estate investors. Use the original assets to leverage greater leverage to invest, and realize wealth appreciation on the premise of being optimistic about the development of real estate (although the second offset money is not allowed to invest in real estate o(╯□╰)o).

Let’s give an example

Ms. Li bought a house for 1.35 million yuan in 2011 and applied for a mortgage loan of 950,000 yuan from the bank. Now the house she purchased The market price rose to 5.5 million yuan, and the loan principal of 400,000 yuan was still outstanding.

Due to the need for capital turnover at the end of the year, Ms. Li successfully applied for a loan of 3.85 million yuan from the bank by handling a second mortgage loan for the property. After paying off the original bank loan of 400,000 yuan, she still had 3.45 million yuan in funds. Can be used for business turnover.

Whether it is credit loan, mortgage loan or even credit card approval, your repayment ability will be reviewed through data without exception, and one of the important ones is turnover.

High turnover can help create an image of a strong repayment ability. To help us obtain higher cash flow reasonably, whether we need a loan or not, I think it is necessary to pay attention to our own cash flow.

Bank-approved turnover statements:

1. After-tax punch-in salary slips

2. Rent slips

3. Other fixed income slips

4. Public income flow

5. Private income flow

In the flow operation, simply speaking, except for the first salary flow, it is The "Salary" remark form exists, and all others can be manually operated.

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How to plan the flow of mortgages and mortgage loans?

The above has talked about so many matters about credit loans and mortgage loans. After all, there is still a huge gap between theory and actual operation. I have little talent and knowledge, so let’s talk about the correct form of financing combination from a theoretical level.

1. Give priority to first-class bank loans.

Reason: Most banks have reserve credit loans. This kind of loan is not listed in the Economic Times when it is not in use. It can be applied for by multiple banks and the interest rate is relatively low. It is suitable for people with better status. That said, it is the most preferred configuration choice.

2. Category II bank loan as an alternative.

Reason: Most of the second-category bank loans are credit card cash installment business, and some of them are reflected as credit card liabilities on a monthly basis in the Hong Kong Economic Journal. The installment interest rate is generally between 10% and 18% based on the actual annualized calculation, and full handling fees are still charged for early repayment, which can only be used when funds are tight.

For example, China Guangfa Bank Caizhijin has 100,000 points in 12 installments, and the installment rate is 0.6%. The actual annualized rate is 13.29%. The credit report shows a liability of 10,00 per installment, which does not affect the overall liabilities. The disadvantage is that the principal and interest are equal, and the capital utilization rate is only half.

3. Mortgage loans are operated according to specific circumstances

Reason: When it comes to the specific approval process, the more complicated the operation steps are, the greater the overall uncontrollability of the system will be. If you want to buy a house with full payment or mortgage and then buy with full payment, there are few steps involved, so you can consider implementing it.

4. Credit card is the inferior choice

Reason: The funds TX are turned over on a monthly basis, and the operation steps are cumbersome. Once it involves derating and blocking the card, liquidity is risky, and TX is illegal. .

Currently, employees in 13 major industries with good qualifications can generally obtain a credit card credit limit of 500,000 from 5 banks within 3-5 years.

Personally recommended large-limit cards:

Minsheng Standard Platinum Card (starting from 50,000 yuan);

China Merchants Bank Visa Platinum Card (500,000 yuan for financial management) 3-month guaranteed card, starting from 60,000);

Bank of Communications Standard Platinum Card (500,000 financial management, 3-month guaranteed card, starting from 30,000);

Industrial Bank Card (Yo series), asset purchase, about 5W;

Shanghai Pudong Development Bank AE card, monthly turnover 1.8W or other bank's 10W card purchase, about 5W;

Above, pass If you keep the card for a certain period of time, the credit limit will gradually increase, and you can achieve a minimum 1% consumption rebate.

The last example: (for discussion)

Situation A:

For a 3 million house, first apply for a reserve credit loan of 90W,

Borrow 3 million in cash to buy it in full (we won’t discuss how for now);

Take the house to the bank, get a mortgage loan, and get back 2.1 million in cash at 70%;

Use the reserve credit loan to withdraw 900,000 from several pre-credit loans;

Pay off the 3 million loan.

You must follow the process. Because if you take out a credit loan first, you will inevitably incur a large credit loan liability on your credit report, and it will be almost impossible to get a mortgage loan again.

Total cost: 6%-10% of the total price of the property is paid annually in interest.

This situation applies when housing prices fall due to policy adjustments and speculators withdraw funds to sell, but individuals are bullish. The time cost is low and the steps are simple.

Situation B:

For a 3 million house, first apply for a reserve credit loan of 1 million.

For a mortgage loan, a 30% down payment of 900,000 is required.

I can't borrow the 900,000 from the bank myself (credit check at the meeting), what should I do?

Or borrow.

1) Ask a friend to borrow, use the 100W credit loan as the basis for repayment, and ask the friend to use it in his name, whether it is a mortgage or a credit loan, anyway, the friend will get the money. Finally, pay attention to the technique, transfer it to your immediate family members, and then transfer it back to yourself (the reason is that the source of large amounts of funds is unknown, and banks can refuse loans).

2) It is difficult to find a credit loan with credit reference, such as Everbright Cloud Pay (the source of funds is financial management, not deposits, so it is not credit reference. It is somewhat similar to P2P borrowing, but it is from a bank).

Next, after the mortgage is approved, go to the reserve credit loan to withdraw 900,000 and return it to a friend or lending institution.

Cost: down payment of RMB 900,000 with annual interest rate of 6%-8%, mortgage loan of RMB 2.1 million with annual interest rate of 4%-6%.