Information > General articles > Buying Loan Guide > Commercial loans >  text

Second house down payment suddenly increased by one percent How to do if the down payment for buying a house is not enough?

Time: 2013-11-11         Source: Rong 360 original         Author: Yuan Yuan

Recently, Shenzhen and Shanghai have successively issued the New Deal for mortgages, which stipulates that 70% of the down payment for second-home purchases is required. This can be difficult at once. The buyer who is preparing to buy a house in the near future has suddenly increased his down payment for the second suite by 10%. What are the hundreds of thousands of gaps that should be made up?

Shenzhen's Mr. Li is also annoyed by this matter. He and his wife have been optimistic about a set of 3 million houses, and finally they have enough money to pay 60% of the down payment. Now they have to spend more than 300,000 down payment. They are really powerless.

Mr. Li said that he belonged to “Special Needs,” and the first house was purchased in 2007. It was a set of fifty-million square meters. Now that the child has grown up, it has reached the age of attending school. Now the house is not enough. . Mr. Li said that he and his wife intend to do a "fake divorce," so that the down payment can be changed by 30%.

When the New Deal came out, there were a lot of people who encountered Mr. Li. Many people also thought of using fake divorce to tide over difficulties. However, the risk of false divorce is much higher. It is not uncommon for one to accidentally make up for the dilemma. Therefore, it is recommended that if you are unwilling to go to the “false divorce” step, you must also agree on issues such as property and child support before signing a divorce agreement so as to avoid accidents and lose your wife and soldiers.

 If the road to "false divorce" doesn't work, is there any other way to make a down payment?

Fusion 360 recommends homebuyers. If the down payment is not enough, try the following methods:
  
If individuals have funds, bonds, or stocks, they may choose to cash out to meet their urgency; if they can borrow money from relatives and friends to make an emergency, this is the most cost-effective way; the above methods will not work, and buyers can choose the following loan methods:

1. If you have a formal work unit, you can applyCredit Loans. The bank will approve the loan quota based on the borrower’s personal qualifications, such as the nature of the work unit and the position. In general, the time limit for credit loans is within 5 years, and the interest rate is about 20%.

2. Can apply for real estateMortgage. Mortgage loans are generally subject to an increase of around 30% in interest rates and the loan period is within 10 years.

3. If you have a company under the name of the home buyer, you can apply for a business loan. BusinessLending ratesUsually go up 30%, the loan life is usually 3-5 years.

It should be noted that, before the New Deal was formally implemented, buyers who had completed online signing were not affected by the New Deal and were still handling 60% of the down payment in the second suite. If the purchaser does not have the power to pay an increase of 10% down payment, he can negotiate with the seller to cancel the purchase contract. However, because the policy adjustment is not force majeure, the party that has breached the contract must pay a certain amount of liquidated damages.

Fusion 360 Tips: In order to prevent the policy change from leading to the inability of the contract to be fulfilled, both buyers and sellers should make a written agreement on similar situations when signing a purchase contract to fully protect their rights and interests.

    You may need these loans

    House loan

    Mortgage records for loans

    500000

    Maximum amount

    0.89%

    Minimum monthly interest rate

    1 day

    Fastest loan time

    apply immediately

    Redemption loan

    Mortgage, help selling room

    6.5 million

    Maximum amount

    2.20%

    Minimum monthly interest rate

    30 days

    Fastest loan time

    apply immediately

    House loan

    Home mortgage, good capital turnover

    10 million

    Maximum amount

    1.20%

    Minimum monthly interest rate

    7 days

    Fastest loan time

    apply immediately

    Decoration loan

    Buy house renovation loan

    500000

    Maximum amount

    0.37%

    Minimum monthly interest rate

    1 day

    Fastest loan time

    apply immediately
    Save this post to my email
    Subscribe to the mortgage, real estate news

    Scan it to make buying a house easier!

    Welcome to pay attention to financial 360 mortgage
    Official Wechat (Fangdai123)

    【Exclusive Manuscripts and Disclaimer】 All works marked as “Future 360 ​​Original” must be reproduced, excerpted or otherwise used by any entity, organization or individual without authorization in writing. Has been authorized in writing, indicating the source melts 360. Violations of the above statement inflicted violations of the legal rights and interests of 360 will be legally pursued. The materials and conclusions in the work are for reference only and do not constitute operational recommendations. For written authorization, please email: academy@rong360.com

    Comment list (User comments are only for users to express personal views, does not mean that this site agrees with their views or confirms their description)
    you may also like
    • How to do if the down payment for buying a house is not enough? Can a down payment be loaned?  How to do if the down payment for buying a house is not enough? Can a down payment be loaned? To buy a house down payment is not enough can be resolved by the following ways: 1. There are old homes who can sell the old room for a new house Many buyers themselves have a house, to buy a house is to improve living conditions, in this case can be sold ...
    • Is it possible to make a loan if the down payment for buying a house is insufficient? What should I do if the down payment is not enough?  Is it possible to make a loan if the down payment for buying a house is insufficient? Strictly speaking, a down payment for a home purchase cannot be granted. To buy a house down payment is not enough can be resolved by the following ways: 1. There are old homes can be sold in the old house for a new house Many buyers themselves have a house, to buy a house is to improve...
    • Nanjing Real Estate New Deal! Increased proportion of down payment in the second suite  The WeChat public number Nanjing announced that the first house down payment is 25% (Gaojing and Surabaya 20%); the proportion of the minimum down payment for households with one house and the corresponding home loan has been settled is adjusted to not less than 35% , Surabaya); homes with 1 house loan outstanding family...
    • Wuhan: The second house down payment increased to 70%  On November 22nd, Wuhan issued a seven article, which stipulates that households with foreign residents who apply for home purchase must pay tax in Han or pay social insurance years, and should be adjusted from the previous year to two years, and propose to increase the proportion of down payment for the second suite. Five days later, the People’s Bank of China Wuhan Branch...
    • Nanchang Suite 2 down payment ratio increased to 70%  At the end of November, Nanchang issued the New Regulation on the Regulation of the Real Estate Market, stipulating that non-residents need to guarantee the purchase of a house for two years or pay a tax in a continuous manner. At the same time, it is strictly forbidden for minors to purchase housing. On December 4, the Minhang Branch of the People's Bank of Nanchang issued the “About Adjustment of Nanchang City. Differentiated housing credit...

    Buying a home loan

    House loan

    Mortgage records for loans

    Redemption loan

    Mortgage, help selling room

    House loan

    Home mortgage, good capital turnover

    Decoration loan

    Buy house renovation loan