How much is the interest on mortgage loan
Many people choose to buy a house by loan, and mortgage loan with real estate is the most commonly used loan method. So what's the interest on the mortgage loan? How to choose the right bank loan? Next, Xiaobian will introduce you to the relevant content, let's take a look.
How much is the mortgage interest
The mortgage interest of each bank will be different, and the implemented interest rate is floating on the basis of the benchmark interest rate. At present, the benchmark annual interest rate of banks is 4.35% for less than one year (including one year), 4.75% for one year to five years (including five years) and 4.9% for more than five years. Let's take China Merchants Bank and China Bank as examples:
1. The housing loan amount of China Merchants Bank is based on 7% of the appraised housing price, and the loan period cannot exceed 3 years. Generally, the loan interest rate only rises by 1% on the basis of the benchmark interest rate of the central bank in the same period.
2. China Bank's mortgage loan is only for houses with a house age of less than 15 years and a house area of over 85 square meters. The amount of the loan is related to the age of the house. Generally, the house with a age of five to ten years is 5% of the appraised price, and the loan interest rate is the benchmark interest rate of the central bank for the same period. If we take a ten-year loan term as an example, the interest rate is 7.83%.
how to choose a suitable bank loan
1. First, we should compare the loan conditions of various banks. When a house is mortgaged, the bank should not only look at whether the house is qualified, but also review the borrower's credit status and personal income.
2. Compare the loan interest rates of various banks. The risk of mortgage loan will be lower than that of credit loan, because there is a house as collateral protection. However, the interest rate of each bank's mortgage loan is different, so the borrower should compare the loan interest rate of each bank and choose the bank with lower interest rate.
article summary: the above is the related content of mortgage interest and how to choose a suitable bank loan introduced by xiaobian, hoping to provide reference for friends in need.
what's the mortgage interest rate?
mortgage interest of real estate license: 6% for one year. The benchmark interest rate of bank loans for more than five years is 6.14%. Ten years is 6.55%.
real estate mortgage means that the property owner takes the deed as the mortgage and obtains the loan to pay interest on schedule. The property right of the house is still managed by the property owner himself, and the creditor only takes interest on schedule, but has no right to manage the house. When the loan is paid off, the property owner will end the mortgage of the house deed.
what is the interest rate of bank mortgage loan
legal subjectivity:
the benchmark annual interest rate of house mortgage loan is 4.35%, up 1%-5%. The requirements of real estate mortgage loan for real estate: the property right of the house should be clear, meet the conditions of listing and trading stipulated by the state, and can enter the real estate market without any other mortgage; The age of the house (calculated from the completion date of the house) and the loan period can not exceed 4 years; The mortgaged house is not included in the local urban reconstruction plan, and there are real estate licenses and land certificates issued by the real estate department and land management department. The requirements of real estate mortgage loan to the borrower: having a legitimate occupation and a stable source of income, and having the ability to repay the principal and interest of the loan on time; No illegal acts and bad credit records; Being able to provide effective pledge guarantee of rights recognized by the bank or a legal and effective real estate as mortgage guarantee or a third-party guarantee with compensatory ability; Open a personal settlement account of China Industrial and Commercial Bank, and agree that the bank will deduct the loan principal and interest from its designated personal settlement account; Other conditions stipulated by the bank. Application materials of real estate mortgage loan: real estate license (real estate license and land certificate in housing mortgage bank loan must be mortgaged to the bank); Identity cards of the obligee and spouse; Household registration books of the obligee and spouse; Marriage certificate of the obligee (marriage certificate or unmarried certificate issued by the Civil Affairs Bureau); Income certificate (this certificate has a great influence on the success of mortgage interest rate and the maximum amount. ）； If the owner of the real estate license has minor children, please provide a birth certificate; If there is a bank loan in the property, please provide the original loan contract and the last bank statement; In order to improve the pass rate of house mortgage loan, please provide as many other family property certificates as possible (such as other real estate licenses, stocks, funds, cash passbooks, vehicle driving licenses, etc.)
Legal objectivity:
Article 11 of the Interim Measures for Personal Loans should meet the following conditions: (1) The borrower is a Chinese citizen with full capacity for civil conduct or an overseas natural person who meets the relevant provisions of the state; (2) The purpose of the loan is clear and legal; (3) The amount, duration and currency of the loan application are reasonable; (4) The borrower has the willingness and ability to repay; (5) The borrower's credit status is good and there is no significant bad credit record; (6) Other conditions required by the lender.