1, withdraw the provident fund to buy a house
After working for many years, if you have enough provident fund balance, you can withdraw it when you buy a second suite, and the amount of withdrawal shall not exceed the down payment for buying a house.
2. Choose a house with a slightly lower price.
The down payment is equal to the house price multiplied by the down payment ratio, and the down payment ratio has been reduced to a minimum. If the down payment is not enough, you can only settle for the second best and choose a house with low prices.
3. Seek help from relatives and friends.
If it is imperative to buy a second apartment with a loan in order to solve the family housing problem, then finding a temporary loan from family or friends is also a way to at least alleviate the immediate cash flow problem.
Note that the down payment for the second suite must be self-owned and cannot be loaned. When lending, the lending institution will clearly state that the funds shall not be used for housing market, investment or other purposes prohibited by laws and regulations.
In fact, if you don't have enough funds, you don't have to rush to buy a second suite, but you should be rational and borrow as needed.
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What is the impact of the reduction in the down payment ratio of the second suite?
The impact of reducing the down payment ratio of the second suite is still quite large, with the following effects.
1, which can stimulate housing demand.
The reduction of the down payment ratio of the second home means the lowering of the threshold of the second home loan, which will inevitably stimulate the demand for home purchase for families with insufficient funds but demand for the second home loan.
For example, Suzhou has reduced the down payment ratio from 50% to 30% for the second home loan whose first home loan has been settled, so the house of 1 10,000 originally needed to prepare a down payment of 500,000. After the reduction, you only need to prepare a down payment of 300,000 yuan to buy a house.
2. It can make the housing market warm up.
In fact, there are many ways to make the housing market warm up, such as lowering housing prices, lowering mortgage interest rates, reducing the down payment ratio and so on. By stimulating housing demand, we can activate the housing market and promote a virtuous circle of the housing market.
The virtuous circle is reflected in the fact that more people buy houses, the houses will become tight, and the house prices may rise again, thus promoting economic growth, and then reaching a certain height will reduce the decline. This cycle is a major feature of market regulation.
3. Increase the repayment pressure.
The down payment ratio of the second suite is reduced, but the entry threshold of the loan is reduced, but the house price will not change, so the principal and interest of the loan to be repaid will increase, and the repayment pressure will increase every month.
For example, the original down payment was 500,000 yuan, the loan was 500,000 yuan, and it was paid off in 30 years. The monthly payment was only 2,653 yuan, but the down payment ratio was reduced. After the down payment of 300,000 yuan and the loan of 700,000 yuan, the monthly payment needs 37 15 yuan, which fully increases the repayment pressure of 1062 yuan/month.
4. generate more interest.
Several key factors in calculating mortgage interest are loan amount, loan term, loan interest rate and repayment method. With the other three conditions unchanged, if the loan amount increases, the loan interest will inevitably increase, which means that the cost of buying a house will increase.
For example, if the loan term is 30 years, the annual interest rate of the loan is 4.9%, and the repayment method is equal principal and interest, then the total down payment interest of 500,000 loans is about 455,300, while that of 300,000 loans is about 637,400, which is a full increase of 182, 1 10,000 interest.