What does it mean to pay down payment and monthly payment for buying a house now?

Now considering that people who buy a house may not have so much money to pay in one lump sum, the developers of real estate points have introduced a payment method, that is, installment payment, which is actually a way for developers and banks to jointly promote.

For example, if you want to buy a house of 800,000 yuan, the real estate agent stipulates that you must pay 200,000 yuan before buying a house, then this 200,000 yuan is the down payment period, and the remaining 60W will be paid off in 15 years. In fact, this 60W was paid off by the bank first, so you have to pay it off in 180 months, so you have to pay it back every month.

Because the house can be paid in installments, the threshold for buying a house is naturally lowered, and more people buy it, and real estate developers naturally earn more. Because installment payment can not be separated from banks, banks can charge interest on loans, so banks are willing to do it. Because the threshold for buying a house has been lowered, many families with little savings but stable jobs can buy a house, and more and more people naturally become house slaves and are enslaved by banks.

You can't go back on your word, but you can sell it and let others pay the bill. If you don't pay the monthly payment on time, the bank will impose a high fine. After a certain period of time, the bank has the right to recover your property rights.