What is the appropriate term for a house purchase loan in 2017?

A quarter of 2017 has passed. After repeated bombardments of regulatory policies, there are still home buyers rushing to buy a house. A house buyer asked: With bank policies tightening this year, what is the appropriate period for applying for a loan to buy a house? How to calculate the bank loan term? A bank loan officer friend of Mr. Mortgage gave the following answer.

Several major factors that affect the life of a mortgage loan:

1 The bank’s maximum limit on the loan life

The bank has requirements on the maximum life of the home loan, usually No more than 30 years, but this year the credit policy has tightened, and some banks have shortened the maximum loan period. For example, Beijing has shortened the maximum loan period to 25 years. You must know that the longer the loan period, the more total interest paid, and the shorter the loan period. , the monthly mortgage payment is high and the pressure is high. For example, if the loan is 2 million yuan, under the premise of the base interest rate, the monthly mortgage payment for 25 years is nearly a thousand yuan more than that for 30 years. Therefore, in cities with higher housing prices, the longest loan period is The changes have a greater impact on home buyers with limited financial means.

2 Repayment ability

Repayment ability also affects the loan term. When the bank examines the borrower's income, it must ensure that the income is sufficient to repay the monthly payment. The relationship between the monthly mortgage payment and income is: Monthly payment ≤ monthly income Some banks require that the borrower's age and the loan term must not exceed the legal retirement age of the individual and his or her spouse; while other banks require the borrower's age and the loan term must be less than 70 years. The loan period stipulated by each bank is different, and it depends on the bank's regulations. The relationship between the loan term and the borrower’s age is: Loan term = statutory retirement age – the borrower’s actual age. The younger the age, the longer the loan term.

4 Nature of the house

Generally speaking, for the purchase of commercial houses and commercial-office houses, the maximum loan period shall not exceed 10 years; the maximum loan period for private property rights transfer houses and auction houses The long loan term is 20 years. The loan period for new and second-hand houses for residential use is up to 30 years, but the loan period for new houses is usually longer than that for second-hand houses, mainly because the loan period for second-hand houses is limited by the age of the house. However, it should be noted that this year Beijing restricted commercial housing transactions and directly stopped issuing loans to commercial housing.

5 House age

In addition to the above, the age of the house is also an important factor in determining the loan period, especially for second-hand houses. Some banks stipulate that the loan period of the house should not exceed 30 years, some stipulate that it should not exceed 40 years, and some stipulate that it should not exceed 50 years.

For example: If the house was built in 2000 and is 17 years old this year, and the loan period stipulated by the bank is that the house is not more than 50 years old, then the loan period = 40-17 = 23 years ; If the borrower is 40 years old at this time and the legal retirement age is 60 years old, according to the relationship formula between the loan term and the borrower’s age, the loan term = 60-40 = 20 years, then the maximum loan term will be 20 years.

Finally, the bank loan officer emphasized that the loan term is affected by the above factors at the same time. When credit policies are tightened, the bank is likely to adjust the maximum term accordingly. The longer the loan term, the more total interest paid, but the shorter the term. Although the total interest decreases, the monthly mortgage payments increase. Everyone’s situation is different, so when applying for a loan, it is best to understand the lending bank’s policies. It stipulates that the loan term should be reasonably determined based on one's own income, age and other circumstances.

(The above answer was published on 2017-04-07, please refer to the actual current relevant home purchase policies)

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In the second half of 2017, five categories of people are likely to be denied loans to buy a house!

Nowadays, home buyers who buy a house with full payment are either rich people or the second generation of rich people. Most of the home buyers are still working class and rely on daily income. The meager monthly salary is used to repay the monthly payment. Therefore, applying for bank mortgage repayment when buying a house is the shortest and most effective way.

In the first half of 2017, the mortgage interest rates of commercial banks across the country have tightened, and may even rise in the second half of the year. Nowadays, the mortgage limit is limited, the loan period is extended, and it is not easy to apply. Therefore, home buyers’ application for mortgage loans in the second half of the year will be strictly controlled.

The following 5 types of people are most likely to be rejected for loans!

1. People who are too old to take out a loan

Sometimes the older an individual is, the more likely he is to get seriously ill, which will impair his ability to repay. The age group for our loans is generally between 18-65 years old, and banks are most interested in people aged 25-40. The salary level of people in this age group is on the rise. Therefore, you are more able to pay for the monthly loan repayments. And those aged 50-65 are relatively unpopular. Under the austerity policy, it becomes more difficult for older people to apply for mortgage loans.

2. People with unqualified repayment ability

This is a rigid standard. The borrower’s income cannot be less than twice the monthly mortgage payment. For example, you have to repay 3,000 per month. For a mortgage, your income should be 6,000 or more. Banks will attach great importance to this income warning line. If you meet the standard, you are very likely to be rejected.

3. People engaged in high-risk jobs

The occupations they engage in are also considered to be one of the review standards. This does not mean discrimination. Rather, the bank considers its own financial risks. If you are engaged in a high-risk occupation, it means that there is a greater possibility of something happening. Once your life is threatened, the recovery of this mortgage becomes a problem. For example, working at heights and hazardous chemicals are less popular. Relatively speaking, teachers, doctors, and civil servants are more popular occupations.

4. People with bad credit reports

When applying for a mortgage, the credit report is an important basis. A series of bad credit records will affect your application. It is best not to have overdue records, such as overdue credit card payments, overdue loans, guaranteeing for others but not repaying on time, etc. Even if your overdue situation is minor, it will still affect your limit.

5. People whose loan records do not meet the standard

Some cities stipulate that: those who own two or more houses, have one or more loan records, and have one or more outstanding loans If it is cleared, the loan will be stopped; or if there is a house with 2 or more loan records and 1 or more unpaid loans, the loan will be stopped. This year's mortgage application is relatively strict. Loan restriction policies have been implemented for different housing purchases. Those who do not meet the standards will not be granted a loan.

(The above answers were published on 2017-06-30, please refer to the actual relevant current home purchase policies)

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What is the appropriate term for a house purchase loan in 2017? What is the maximum loan term?

What is the appropriate term for a house purchase loan in 2017? How long is the maximum loan term?

1. How is the commercial loan period determined?

The specific loan period must be calculated based on the age of the individual. Men should not exceed 65 years old, and women should not exceed 60 years old.

For example: For example, if a man is 54 years old now, his maximum loan period can only be 11 years, 65-54=11, and the rest can be deduced in sequence. And the maximum loan period is different for each bank.

The maximum term for new homes is 30 years, and the maximum term for second-hand homes is 15 years. (The maximum period of second-hand housing loans varies in different regions)

2. How is the period of personal housing provident fund loans stipulated?

The maximum period of housing provident fund loans shall not exceed 30 years. , the borrower’s age does not exceed the national statutory retirement age, that is, men do not exceed 60 years old, and women do not exceed 55 years old. If both the borrower and the spouse meet the conditions for applying for a housing provident fund loan, the loan term can be calculated based on the party with the longer remaining working years.

(The above answer was published on 2017-02-07, please refer to the actual relevant current house purchase policies)

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How to calculate the loan period for buying a house in 2017? How many years is appropriate for a loan

1. The maximum term of a commercial loan is 30 years. Some banks require that the age of the borrower and the loan term must not exceed the legal retirement age of the individual and his or her spouse (65 years old for men and 60 years old for women); Some banks require the borrower's age and the loan term to be less than 70 years. The loan period stipulated by each bank is different, and it depends on the bank's regulations.

If a man is 50 years old this year, according to the loan regulations that men should not be over 65 years old and women should not be over 60 years old, the loan period is 15 years (that is, 65-50=15).

2. The maximum term of a housing provident fund loan is 30 years, and does not exceed the statutory retirement age of employees and their spouses (65 years old for men and 60 years old for women); some also say that the loan period depends on the age of the borrower and must not More than 70 years, the specific loan period specified by each local provident fund management center shall prevail.

3. The term of the provident fund loan and the commercial loan in the portfolio loan must be consistent, and the requirements for the loan period are the same as above.

In short, the loan period = the legal retirement age stipulated by the state (or 70) - the actual age of the borrower. The younger the age, the longer the loan term, and conversely, the older the age, the shorter the loan term. Age is the most important and common factor that affects the loan period. In addition, the loan period is also affected by other factors, such as the nature of the property and the age of the second-hand house.

How many years is appropriate for a home loan?

If the borrower’s income is stable and relatively high, you can choose a short-term loan. The shorter the time, the lower the interest. For high-income people, it is just for temporary turnover. For people, this can save a lot of mortgage interest. People with unstable incomes or low-income people, considering their own income problems, can choose to extend the term, which can reduce the monthly repayment burden. Everyone should reasonably determine the loan period based on their own economic situation.