Generally, the longest mortgage loan can be 30 years, but according to the regulations of most banks, the borrower's age plus the loan period cannot exceed 65 years. In addition, the specific loan term also needs to distinguish between housing types and loan types.
1, housing category: the longest ordinary housing loan is 30 years; The longest commercial housing loan is 10 year (commercial housing can only apply for commercial loans).
2. Loan category: commercial loan, male under 65 years old and female under 60 years old; Apply for provident fund loans, men are not over 60 years old and women are not over 55 years old.
Is it better to borrow it for a long time or a short time?
1, as appropriate:
No matter what business it is, what suits you is the best. If the mortgage term is long, the monthly repayment pressure will be relatively small. The repayment time is short, and you need to pay a lot of money every month, which is suitable for users with relatively high and stable income, so you need to find a suitable repayment time, not a random repayment time.
2. Income is an important factor in determining the mortgage term:
In modern society, everyone's income is different, some are only 3400 yuan, and some earn tens of thousands a month. The income factor should be considered when choosing the mortgage term. For example, Betty Wong's income is 6,543,800 yuan, so the monthly mortgage repayment cost can be controlled within 3,000 to 6,000 yuan without other liabilities. It is suggested that total liabilities only account for 30%~60% of income. Banks should keep enough family expenses and expenses, and should not excessively restrict family consumption because of monthly repayment. It is beneficial to restrict household consumption appropriately, but it cannot be excessively restricted.
3. Save enough deposits:
The term of the mortgage is at least 10 years, so in order to prevent accidents, at least part of the money should be saved every month, so the term should not be too short, otherwise high principal and interest will be paid every month. I suggest that you keep 3 to 6 times the monthly repayment amount, which is more appropriate. Of course, you can stay more, but you can't stay less, mainly to prevent the risks brought by unemployment and other factors. ..
What is the longest term of a commercial loan?
The longest loan period of commercial loans is 30 years, and the longest loan period of provident fund loans is also 30 years. If you want to borrow for 30 years, there are requirements not only for the age of the lender, but also for the age of the property. Generally speaking, users want to apply for a 30-year commercial loan, so the younger the better.
In addition, different houses have different property rights, and some properties do not support applying for a 30-year loan. Users need to know the nature of the property when applying for a loan.
How long is the loan period for commercial real estate?
I. Term of commercial loan:
1. Generally speaking, the longest loan period of individual housing loans of commercial banks is 30 years. If the borrower purchases a house, the loan term shall not exceed 30 years at the longest; If the borrower purchases a commercial house and a "commercial-residential dual-use house", the longest loan period shall not exceed 10 year; The term of each loan is determined by the commercial bank through consultation with the borrower according to the borrower's age, working years and repayment ability. However, the borrower's age plus the loan period shall not exceed 70 years at the longest.
2. The specific loan period should be calculated according to the individual's age (male: no more than 65 years old, female: no more than 60 years old. And the longest loan period of each bank is different. The maximum term of a new house is 30 years, and the maximum term of a second-hand house is 15 years.
What is the loan period of commercial housing/housing mortgage?
The loan term of individual commercial housing shall meet the following conditions:
1. The longest term of personal commercial housing loan is 10 year. Where there are stricter provisions in relevant laws, regulations, regulatory provisions or national policies, those provisions shall prevail;
2 individual commercial housing loan period shall not exceed the remaining use period of construction land occupied by collateral;
3. Personal second-hand commercial housing, the sum of the loan period and the age of the house shall not exceed 30 years in principle (including office space not exceeding 20 years);
4. The sum of the loan term and the borrower's age shall not exceed 65 years old in principle, and the middle and high-end customers who meet the requirements of BOC may be extended to 70 years old. Due to differences in business in individual regions, please consult local outlets for details.
The above contents are for your reference. Please refer to the actual business regulations.