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Loan to buy second-hand housing considerations

the longest individual mortgage loan how to measure?

cast treasure mortgage loan consultant replied: the term of the loan and the borrower's age should not exceed 65 years. Such as a 40 year old buyer loans, mortgage contract signing date was April 15, 2013. So, if the borrower's actual birthday on April 15, his mortgage for a maximum period of 24 years if the borrower's actual birthday is on or after April 15, his mortgage for a maximum period of 25 years.

choice of repayment options is better?

repayment options for different people. In General, a steady income or growth prospects of home buyers, for an equivalent repayment, so that the whole pressure of repayment of the loan term is the same, while the balance or more daily incomes much higher than that of debt buyers, for decreasing repayment, loan interest will be reduced so that the entire loan period. Of course, some larger income homebuyers, we recommend two repayment can be combined stages, to either respond to reasonable repayment pressures, and modest savings part of the interest on loans.

any restrictions on second-hand housing mortgage loans?

generally, has this several aspects limit: has made real estate warrants of housing, or immediately can made real estate warrants into live of housing; age: not over 20 years of general housing and not over 15 years of other property; loan percentage: general housing highest 80%, and other property highest 60%: loan term: general housing of property has using years and loan years of and most long not over 30 years, other property of has using years and loan years of and most long not over 20 years ( And loan term maximum of 10 years), term of the loan and the borrower's age should not exceed 65 years.

How long is the term of the loan is more suitable?

loan term choices should vary. Consider three main factors: first, the lender may be the maximum loan period; the second is the lender's own situation, such as savings, daily payments, repayment pressures, three moderately concerned about the macroeconomic situation, such as economic interest rate cut or hike. In General, allowed under their own conditions, economy rate cuts, should be appropriate to extend the loan term economic interest, should be appropriate to shorten the term of the loan.

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