Of course, credit cards cannot be used to borrow money to buy a house, and if your credit card has a bad repayment record (multiple overdues) it may even affect your use of other loan channels for loans. If you need a loan to buy a house, you can go directly to the bank to sign a mortgage loan. Go to the bank counter to apply for a mortgage, and the bank will have professionals who can explain the loan interest rate and steps to you.
How to get a credit card loan to buy a house
1. It is understood that some banks’ credit card application contracts or articles of association only require that credit cards shall not be used to invest in the stock market, futures market and other markets. Credit cards are not allowed to be used for tax evasion, debt evasion, money laundering, cash withdrawal, production and operation overdrafts and other illegal and illegal activities.
2. As for the issue of house purchase, there is no clear explanation, which means that credit cards can be used to buy houses. Many real estate companies also said that banks do not stipulate that credit cards cannot be used to purchase houses. It is actually very simple to use credit cards to purchase houses, just like purchasing other goods, just swipe the card.
3. Credit cards (debit cards) have two functions: a consumption overdraft and a cash withdrawal overdraft.
4. There is no handling fee for repaying consumer overdrafts within the repayment period specified by the bank; however, a handling fee of about 3% for cash overdrafts and a daily interest of 0.5% will be charged.
What should you pay attention to when buying a house with a credit card loan?
1. Banks pay special attention to large transactions.
Credit card limit increases will be affected. When making payment, it is best to prepare 1-2 large credit cards for payment, and do not use multiple cards at the same time. Because for such large-amount no-points transactions on multiple cards, the bank may suspect that the customer is cashing out and will strengthen risk control. If there are overdue or other problems, it will not be so easy to apply for a limit increase in the future. If you encounter a more serious bank You may even get a reduction.
2. It takes a long time to refund the down payment by credit card.
It will be miserable to meet the due payment date. Pay the down payment and deposit with a credit card. If the house purchase transaction is canceled for some reason, it will take a long time to ask the developer for a refund, usually 30-45 days. If this period happens to coincide with the due date of repayment, the house buyer can only If you advance and repay the loan yourself, the pressure will certainly be huge, so isn’t this cost-effective?
3. There are regional or housing restrictions for credit card down payment.
Credit cards cannot be used to pay the down payment for second-hand houses. Customers who want to buy a second-hand house are reminded that the down payment is usually paid by bank transfer, and credit cards cannot be used. In some areas with strict requirements, developers are clearly not allowed to pay the down payment with a credit card. Therefore, it is recommended to use a credit card to pay the down payment. The payment is also subject to local policy restrictions and is not universal.
4. If you pay the down payment for a house with a credit card, you cannot apply for bill installments.
The repayment pressure is high in the short term, which can easily lead to overdue payments. Paying the down payment with a credit card cannot handle bill installments. The repayment pressure will increase in the short term. Failure to repay in time will easily lead to overdue payments and high interest and late payment fees. The most important thing is that it will affect the personal tax of the home buyer. letter. Therefore, before paying, you must have a clear understanding of your financial situation, and remember to swipe your card blindly.