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. Appropriate is the best:
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 year, 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.
Can the term of mortgage be changed? 1. You should determine your loan term before you make a loan. Once the loan term is determined, it cannot be changed halfway. But you can repay the loan in advance, that is, you pay off all the money in advance before the loan deadline.
2. It is suggested that the lender apply for prepayment or shorten the service life, which can change the service life of the housing loan. However, it depends on how the loan contract is agreed, whether there is a penalty, and whether there is an early repayment. Usually these problems will be stipulated in the contract.
3. In addition, the change and adjustment of the loan interest rate will also affect the loan term. The loan interest rate is not a fixed value, which will directly affect the mortgage term.
Generally speaking, shortening the repayment time can also save more interest, but not all banks can apply for shortening the loan term to repay in advance, because at present, some banks require that if they repay in advance, this can only reduce the monthly repayment amount and keep the loan term unchanged.
From the point of view of buyers, shortening the loan period is not suitable for everyone. For buyers who choose to repay the principal and interest with equal amount, when the repayment period exceeds half of the loan period, it means that nearly 80% of the interest has been paid off within this period, and the remaining monthly payments are basically principal, so it is of little significance to shorten the repayment period in advance.
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