The minimum down payment for buying a house in Hefei is 20%. With commercial loans, the minimum down payment is 20% if the purchased house area is less than 90 square meters. However, if the area of the house purchased exceeds 90 square meters, the down payment for the first purchase is 30%. Now the local policy in Hefei has changed. The down payment for the first suite has been reduced from at least 30% to at least 20%. It is more cost-effective to buy a house now. If you can apply for housing provident fund, the loan interest will be lowered. People who just need to buy a house can get on the bus now.
Mortgage loans to buy a house, in addition to the down payment, but also to prepare deed tax and housing maintenance fund. Whether buying a new house or a second-hand house, deed tax is a fee to be paid. For some houses with relatively small construction area, the deed tax is charged at 1% of the total house price, while most people buy houses with an area of more than 90 square meters but less than 144 square meters.