Real Estate Mortgage Interest Rate 2014

Take the real estate certificate to the bank and the mortgage loan interest rate is generally around 4.35%. The housing mortgage interest rate will vary according to the different houses and the conditions of the lender. The difference is based on the actual second loan interest rate. To apply for a mortgage loan with a real estate certificate, you need to meet the following conditions: (1) Have a legal identity, be a Chinese citizen aged 5 to 5 years old (inclusive), and have full capacity for civil conduct; (2) Have a stable economic income and have the ability to repay the loan ability to pay principal and interest, and no bad credit record; (3) Have legal and valid collateral certification materials; (such as real estate certificates, land certificates, etc.) (4) If a housing mortgage loan has been purchased and applied for, the original housing mortgage loan has been repaid More than one year, the loan balance is less than 0% of the value of the mortgaged house, and the house used as mortgage has obtained the house ownership certificate, and the house is less than 10 years old; (5) A valid guarantee recognized by the lending bank can be provided; (Lu ) Other conditions stipulated by the lending bank

What is the mortgage interest rate?

1. What is the interest rate for house mortgage loans?

1. The current benchmark interest rates implemented by banks are: 4.35% for loans of less than one year (including one year); 4.75% for loans from one to five years (including five years); and 4.75% for loans of more than five years. 4.90%.

2. The current benchmark interest rate for commercial loans with a loan term of more than 5 years is 4.90%. Due to the impact of the purchase restriction and loan restriction policy, banks in various regions have different adjustments to the interest rates for first home loans. The latest data from the Bank Information Port shows: Nationwide The average interest rate for first-time buyers is 5.38%, and interest rates generally rise by 5%-20%. The interest rates for second-home loans generally rise by 10%-30%. During the same period, the benchmark interest rate for provident fund loans was 3.25%, and the interest rates for second home loans generally increased by 10%.

3. The number of mortgage loans for the second house is determined based on the borrower’s family (including the borrower, spouse and minor children). Families that have used provident fund loans or commercial loans to purchase a house will apply for a mortgage again. Considered a 2nd suite.

2. Classification of loan interest rates

According to whether the interest rate level changes during the duration of the monetary capital lending relationship, loan interest rates can be divided into fixed interest rates and floating interest rates. Floating interest rates refer to interest rates that adjust accordingly with changes in prices or other factors during the loan period. Borrowers and borrowers can stipulate that the interest rate can be adjusted according to factors such as prices or other market interest rates when signing a loan agreement. Floating interest rates can avoid some of the disadvantages of fixed interest rates, but the calculation basis is diverse and the procedures are complicated.

The method that China once implemented to subsidize the value of medium and long-term savings deposits is a form of floating interest rate system.

Residential mortgage loan interest rate 2014

From January 1 to November 21, 2014, the benchmark annual interest rate for loans announced by the People's Bank of China is as follows: 5.6% within 6 months (inclusive) ; 6 months to 1 year (including 1 year) 6%; 1-3 years (including 3 years) 6.15%; 3-5 years (including 5 years) 6.4%; more than 5 years 6.55%;

< p> From November 22 to December 31, 2014, the benchmark annual interest rates for loans announced by the People's Bank of China are as follows: 5.6% within 6 months (inclusive); 5.6% from 6 months to 1 year (inclusive); 1- 3 years (including 3 years) 6%; 3-5 years (including 5 years) 6%; more than 5 years 6.15%.

Real estate mortgage loan interest rate in 2014

The current benchmark interest rate implemented by banks is:

The interest rate for less than one year (including one year) is 4.35%;

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The interest rate for one to five years (including five years) is 4.75%;

For more than five years, the interest rate is 4.90%.

What is the interest rate for a home mortgage loan? The process and conditions of a home mortgage loan

Buying a house is a relatively large amount of money, so now most people need a home mortgage loan to buy a house. What is the interest rate for home mortgage loans in 2014? What are the procedures and conditions for home mortgage loans? The editor of Tubatu has compiled some relevant information for us to understand:

What is a home mortgage loan?

< p>House mortgage loan is a housing mortgage loan, also known as mortgage. It means that the bank provides most of the house purchase money to the borrower. The house buyer repays the principal and interest to the bank in installments with a stable income, and before the principal and interest are repaid, he uses his money to repay the principal and interest. The house purchase contract is mortgaged to the bank. If the buyer cannot repay the principal and interest within the time limit, the bank can sell the house to offset the debt.

What is the real estate mortgage interest rate?

Many people are asking what the real estate mortgage interest rate is in 2014. In fact, it is more correct to ask how the real estate mortgage interest rate is calculated, because Different banks offer different interest rates, and even different borrowers have different mortgage loan interest rates due to different qualifications.

Before introducing the calculation methods and formulas of real estate mortgage loan interest rates, let me first introduce to you the calculation methods of several commonly used interest rate terms.

1. Daily interest rate (0/000) = annual interest rate (%) ÷ 360 = monthly interest rate (‰) ÷ 30;

2. Monthly interest rate (‰) = annual interest rate (%)÷12;

3. Compound interest: Compound interest means charging interest at a certain rate.

According to the regulations of the central bank, if the borrower fails to repay the interest within the time stipulated in the contract, compound interest will be charged;

4. Penalty interest: If the lender fails to repay the bank loan within the specified time limit, the bank will be charged according to the contract signed with the party. The penalty interest imposed on the defaulter in a contract is called bank penalty interest;

5. Liquidated damages for overdue loans: The nature is the same as penalty interest, and it is a punitive measure for the party who defaults on the contract.

When calculating interest on home mortgage loans, you need to understand the bank's interest calculation method. The bank can use the accumulation interest calculation method and the transaction interest calculation method to calculate interest.

1. The accumulation interest calculation method is based on the daily accumulated account balance based on the actual number of days, and the interest is calculated by multiplying the accumulated accumulation number by the daily interest rate. The interest calculation formula is: interest = cumulative interest-bearing product × daily interest rate, where cumulative interest-bearing product = total daily balance.

2. The interest calculation method is based on the predetermined interest calculation formula: interest = principal × interest rate × loan period, and interest is calculated on a case-by-case basis. If the interest calculation period is a whole year (month), the interest calculation formula is: interest = principal × number of years (months) × annual (month) interest rate. If the interest calculation period is a whole year (month) and fractional days, the interest calculation period is The formula is: interest = principal × number of years (months) × interest rate per year (months) principal Leap year (366 days), each month is the actual number of days in the Gregorian calendar, and the interest calculation formula is: interest = principal × actual number of days × daily interest rate.

These three calculation formulas are essentially the same. However, since only 360 days are used in a year in interest rate conversion, but in actual calculation based on daily interest rates, 365 days are used in a year, so the results will be slightly different. deviation. Which formula is used to calculate the specific formula? The central bank has given financial institutions the right to choose independently. Therefore, this can be stipulated in the contract with the financial institution.

House mortgage loan process:

1. Prepare materials

First, bring the couple’s identity certificates, household register, marriage certificate, house ownership certificate, and land certificate (or copy), industrial and commercial license, tax registration certificate, bank statement of funds, etc. are ready.

2. House Appraisal

Bring your identity certificate and house ownership certificate to the appraisal company to apply for appraisal of the mortgaged house. Note here that banks have their own designated appraisal companies; the appraisal company accepts An evaluation report will be issued later.

3. Apply for a loan

Bring the couple’s identity certificates, household register, marriage certificate, real estate certificate, land certificate (or copy), industrial and commercial license, tax registration certificate, Go to the bank to apply for a loan and sign a loan contract with the bank's capital flow and evaluation report.

4. Bank approval

After the bank accepts the application, it will verify the authenticity of the materials, go to the business premises for on-site inspection, and report to the superior bank for approval. The superior bank will approve the loan after verification.

5. Mortgage registration

Go to the housing management department with your ID card, loan contract, and property ownership certificate to apply for a mortgage. After the housing management department accepts the application, you will go through the mortgage registration and issue a certificate of other rights. Other certificates of entitlement go to the bank to withdraw the loan.

House mortgage loan conditions:

1. Natural persons with full capacity for civil conduct, aged between 18 (inclusive) and 65 (inclusive); foreigners and Hong Kong, Residents of Australia and Taiwan who are borrowers must have lived in the People's Republic of China for one year and have a fixed residence and occupation. If the loan is used to purchase a house, they must also meet my country's policies on home purchase by overseas persons.

2. Have legal and valid identity certificate, household registration certificate (or valid residence certificate) and marital status certificate (or unmarried statement).

3. Have a good credit record and willingness to repay.

4. Have a stable source of income and the ability to repay the principal and interest of the loan in full and on time. The borrower’s total monthly debt (the total principal and interest repayment of all loans under the borrower’s name) shall not exceed its maximum monthly If the repayment method is non-instalment repayment, the total principal and interest during the loan period shall not exceed 50% of the borrower's cumulative income during the same period, or the borrower must have personal financial assets sufficient to cover the principal and interest repayment when due.

5. Have a clear purpose for the loan; the purpose of the loan complies with national laws, regulations and relevant provisions, and promises that the loan will not flow into the securities market, futures market in any form or be used for equity investment or real estate project development. It should not be used for borrowing money to obtain illegal income, or for projects that are clearly prohibited from operating under the laws and regulations of other countries.

6. Be able to provide legal, valid and reliable house mortgages recognized by banks.

7. Open a personal settlement account at the bank.

I have shared with you the interest rate, process and conditions of home mortgage loans. I believe that everyone now has a clearer understanding of home mortgage loans. If you have more related doubts, Please reply and interact with us below, and the editor will share more content with you. For more content, please pay attention to Tubatu Learning Decoration.

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