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How long is the 2018 mortgage loan period suitable? Don't let the mortgage bind your life!

Time: 2018-01-05         Source: Rong 360 original         Author: Jada

Before the Spring Festival before the Spring Festival, some buyers were very concerned about how long the loan period for buying a house this year is appropriate.Rong 360 said roomA credit officer friend of Jun (fangdai123) summed up several factors that affect the length of the mortgage loan for everyone's reference.

  1. The bank's maximum limit on the loan period

Generally, the bank's requirement for the length of the mortgage is no more than 30 years, but it depends on the policy requirements of the banks, because different banks and even the same bank have different years. For example, Beijing last year shortened the longest loan period for purchasing two suites to 25 years. The loan period is long, the total interest paid by the buyers is much, the period is short, and the monthly mortgage monthly payment is more.

  for example:

If the loan is 2 million, even if calculated according to the benchmark interest rate, the 25-year period will be more than a thousand yuan per month than the 30-year period. Now the average interest rate of the first suite in the country is maintained at more than 5%, and the total expenditure has to be paid more. Therefore, it is important for banks to limit the maximum length of time.

  2. Lender age

The age of the lender will also affect the length of the loan. Some banks require the lender's age + loan term, which must not exceed the statutory retirement age of the individual and his or her spouse; while some banks require the lender's age + loan term, which must be less than 70 years, specifically Look at the banking policy. The relationship between the length of the loan and the age of the lender is:Year of loan = statutory retirement age - actual age of the lenderThe younger the age, the longer the loan period.

  3. Loan repayment ability

The loan period is also affected by the repayment ability. The corresponding monthly mortgage loan is calculated through the loan period. The relationship between monthly payment and monthly income is monthly income ≤ monthly income X50%.

  4, housing age

In addition to the longest years and the age limit of the lender, the age of the house will also affect the length of the mortgage, especially second-hand housing. There are bank regulations, the loan period + the house age is not more than 30 years, some regulations are not more than 40 years, and there are provisions not exceeding 50 years.

  Give an example to understand more:

If the house is in 2010, the age of this year is 8 years, the bank's loan period + house age is no more than 50 years, that is, the loan period = 50-8 = 42; if the loaner is 35 years old this year, The statutory retirement age is 60 years old. According to the relationship between the loan term and the age of the lender, the loan term is 60-35=25, then the maximum loan period is 25 years.

  Is it better to buy a house loan for a longer or shorter loan?Mainly look at the starting point of the purchaser

 For example, people who choose a short loan period (within 10 years) will consider two points:

First, I would rather manage people to borrow money to buy a house and do not want to owe bank interest.

Second, it is natural that I don’t like the feeling of owing money. I want to pay off as soon as possible.

  Those who choose a long loan period (25-30 years) consider three points:

First, from the perspective of financial planning, in the context of rising mortgage interest rates, instead of investing money in the house, it is better to invest in other wealth management products, leaving more liquidity for consumption in the hands of the elderly. The child's family spends a lot of money, and the long-term limit can reduce the monthly monthly burden.

Second, from the perspective of hedging, in the case of limited wage increases, the house has more advantages as a fixed asset. This is especially evident in large cities. The length of the election is slower and longer, and it can also be rented.

Third, its economic strength is limited, and it can only choose a long period of time. When there are more surplus funds, it will reduce the monthly burden.

The loan officer said that the loan period is affected by the above factors. It is well known that the interest rate of many mortgages has been rising in the past year. Under the background of the tightening of credit policies, some banks will adjust the maximum loan period according to their own business conditions.

The rise in interest rates means that the total interest paid for buying a house is much higher, and the pressure for a short period of time is large.Everyone thinks about different starting points. Sometimes, I don’t think what I want. The most important thing is to set a tolerance limit for myself. I can achieve the goal of buying a satisfactory house with the least amount of money, without affecting my daily life. Consumption, don't let the mortgage trap your own life.

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