I have 100,000 on my credit card and want to buy a house. If I use the 100,000 on my credit card and get another loan, will there be any impact?

A credit card has a limit of 100,000 yuan. If I want to buy a house, I want to use the 100,000 yuan and then borrow money. This is not possible because the credit card is a consumer loan and cannot be used to buy a house. down payment, so it will definitely have an impact.

If you want to buy a house, you can directly apply for a home loan.

This is the case with home purchase loans.

When purchasing a house, many buyers will choose to borrow money from banks due to insufficient funds. Few people will buy a house in full at once. There are many types of loans and they are relatively complex. Among them, the two most common repayment methods are equal principal and interest and equal principal. But there are many home buyers who know nothing about these two repayment methods, and cannot even distinguish the difference between equal principal payments and equal principal and interest payments?

The difference between equal principal and equal principal and interest

The difference between equal principal and equal principal and interest:

Equal principal: the monthly repayment amount is different. As the number of installments increases, the monthly repayment amount continues to decrease. This method is to divide the loan principal equally according to the total number of monthly repayments, and add the remaining principal interest from the previous period to get the monthly payment amount.

Calculation method:

Monthly payment = (total principal/total number of periods) (principal-accumulated principal repaid)*monthly interest rate;

Monthly principal = total principal/total number of periods;

Monthly interest = (total principal - accumulated principal repaid) * monthly interest rate;

Total interest = (total period Number 1) * total principal * monthly interest rate / 2;

Total repayment amount = (number of repayment months 1) * loan amount * monthly interest rate / 2 total principal;

Equal principal and interest: The total monthly repayment is the same, because the proportion of principal in the monthly payment increases month by month, the interest decreases month by month, and the total number of periods remains unchanged.

Calculation method:

Monthly payment = [principal*monthly interest rate*(1-month interest rate)*number of loan months]/[(1-month interest rate)*number of repayment months- 1];

Monthly interest = remaining principal * monthly loan interest rate;

Total interest = loan amount * number of loan months * monthly interest rate * (1-month interest rate) * number of loan months /[(1-month interest rate)*number of repayment months-1]-loan amount;

Total repayment = loan amount*number of loan months*monthly interest rate*(1-month interest rate)*number of loan months/ [(1 month interest rate) * number of repayment months - 1];

The longer the loan term, the greater the interest difference

Under normal circumstances, the total interest ratio of equal principal and interest payments The principal amount is larger for equal amounts, and the longer the loan term, the greater the interest difference.

For equal amounts of principal and interest, as the loan principal gradually decreases after repayment, the interest ratio gradually decreases; for equal amounts of principal, the principal value of the monthly repayment remains unchanged, and the interest decreases month by month, and the monthly repayment The total amount gradually decreases.

At the same time, we can see that in the first eight years, the total amount of equal principal repayments was higher and the interest was less, but the monthly payment pressure will be greater, and during this period, the interest will hardly be felt. benefits. Therefore, to put it bluntly, equal principal and interest means using more interest in exchange for less repayment pressure. For people with less down payment funds, the repayment method of equal principal and interest can support a larger amount of loans, and for those with investment purposes For buyers with a higher down payment ratio, the same amount of principal will be more cost-effective.

What should you pay attention to when applying for a home purchase loan?

1. The amount should be within your ability

Some home buyers think that the larger the loan amount, the better. In fact, this is not the case, because the loan has to be repaid, and if the buyer's loan term is long and the loan amount is larger, the loan interest that will be paid will be more, which will increase the repayment pressure.

2. Down payment and income

According to current regulations, the first house usually requires 30% down payment, and the second house requires at least 40% down payment. Additionally, it's a good idea to make sure their monthly income is more than twice the monthly payment, which can help improve your mortgage qualifying rate.

3. Please do not use provident fund before applying for a loan

If you withdraw the provident fund balance before applying for a loan, the balance on the provident fund account will become zero, so the provident fund loan limit will also change. is zero. In other words, you currently cannot successfully apply for a provident fund loan.

4. Repay the loan early

Don’t think that you can repay the loan early at any time after you have a certain amount of funds on hand. This should be considered comprehensively based on the specific loan method and loan repayment time. Sometimes paying off your loan early may not be a good thing.

When choosing a mortgage repayment method, you should decide based on your personal needs, risk preference and financial ability. If you have a strong repayment ability, choosing an equal amount of principal can reduce the total interest amount, but if it is a mortgage The burden is relatively heavy, so if you choose equal principal and interest, the pressure will be less.

The initial repayment pressure of equal principal amount is relatively high, and the pressure gradually decreases in the later period, so it is suitable for people with strong repayment ability and high down payment ratio. In addition, this method is also suitable for people who are slightly older, because it changes with time. As age increases, income may gradually decrease.

The monthly repayment amount of equal principal and interest is the same, which is suitable for families with regular spending plans and young people who have just started to earn a salary. As their age increases, their income and position will gradually increase. This type of group If people choose equal principal amounts, the early stage pressure will be very high.

Therefore, each of the two methods has its own unique advantages and disadvantages. Everyone should make a choice based on their current and future income status, and do not believe in simple suggestions from others. The down payment for the house is not enough and I used a credit card worth 100,000 yuan. Will it affect the mortgage loan if the money is empty?

1. The impact is that the down payment needs to be paid off.

2. Materials required by CCB as an example:

1. Identity document;

2. Documents proving the borrower’s repayment ability;

3. Legal and valid house purchase (construction, overhaul) contract, agreement or (and) other approval documents;

4. Down payment certification materials;

5. Loan guarantee Materials;

6. Other documents and information specified by the lending bank.

3. Taking ICBC as an example:

1. Valid identity documents and marriage status certificates of the borrower and spouse;

2. Household registration certificate of the borrower (Household registration book or other valid proof of residence);

3. Proof of economic income and occupation of the borrower;

4. "Commercial House Sales (Advance Purchase)" signed between the borrower and the real estate development company ) Sales Contract" or "Letter of Intent to Purchase Commercial Housing Contract";

5. A copy of the receipt or invoice for the down payment issued by the real estate development enterprise, or a bank deposit slip for the down payment;

6. Other documents or information required by the lender.

4. Take the Bank of Communications as an example:

1. Identity certificate, marriage certificate (such as resident ID card, household register, marriage certificate, single certificate or statement, etc.)

2. Proof of loan purpose (such as commercial housing sales or pre-sale contract, down payment certificate, etc.);

3. Income proof materials (such as income certificate, salary slip, tax bill, etc.);

4. Other relevant information. I owe 100,000 on my credit card and I have to pay it off every month. Will it affect my commercial loan for buying a house?

It doesn’t matter, as long as there are no bad records, no recovery period, or no record of non-repayment, there will be no problem. When you apply for a loan, the bank will consider your monthly credit card repayments and monthly income to see if you have the ability to repay. However, in general, banks will not hold you back in order to make money. Can I apply for a house loan if I have a credit card with RMB 100,000 in my name?

If you have a credit card worth RMB 100,000 in your name, you can apply for a house purchase loan, but you cannot use the credit card money to pay the down payment. When applying for a loan, the bank will generally require you to repay all credit cards. You can apply for a loan only if your credit card bill consumption does not exceed 50,000 yuan. If the debt ratio is too high, the bank will reject your loan application.