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Housing mortgage loan life! Bank mortgage loans can be repaid in advance!
On the surface, it seems that we should pay off the loan in advance. In fact, it is related to our personal financial thinking and investment logic!
When there are the following situations, the mortgage needs to be repaid in advance:
1、Need to use mortgage housing mortgage business loans, need to prepay;
2、When the investment property needs to be sold in advance;
3、Improved housing, need to replace a larger and better living environment or school district housing;
4、When planning the second property investment!
5、Solve the debt crisis and sell real estate
At present, most of the clients I meet are in the above situations. Will be paid in advance.
Recently, some friends often ask how many years a house mortgage loan can be loaned. Although we all know that a house mortgage loan can be loaned for up to 30 years, due to the different qualifications of the borrowers, the specific loan period varies greatly. Then, how many years can we take out the mortgage loan? There are three situations.
1、 The property of housing belongs to commercial housing
Not only most banks are reluctant to use the crop collateral of commercial housing for housing mortgage loan, but also the loan period is relatively short. The specific requirement is that the service life of commercial housing + credit period ≤ 30. If your housing has been used for 10 years, it can be loaned for 20 years at most in theory. However, due to the regulation that the actual housing mortgage loan of commercial housing can be loaned for 5 years at most Therefore, this kind of house can be loaned for 3-5 years, and now the management of commercial housing loan is relatively strict.
2、 The property of house is residential
Using ordinary commercial housing as collateral for housing mortgage loan period provisions need to meet two standards, with less years as the criterion, one is the borrower’s age + credit period ≤ 60, that is to say, if you are 20 years old now, theoretically you can borrow 40 years at most, but because the housing mortgage loan can borrow 30 years at most, so according to this standard you can borrow 3 years at most In other words, if the house has been used for 20 years, it can be loaned for 20 years at most.
3、 Self built houses and Bungalows
Self built houses and bungalows are generally unable to handle housing mortgage loan business in regular banks, but if the house value is really large and has ownership certificate, they can handle housing mortgage loan in loan financial institutions or individuals. The loan term is generally agreed with the lending institutions, and the term is generally shorter, which is 1-3 years.
In addition, there is a certain relationship between the borrower’s personal qualification, such as the borrower’s personal credit, asset status, repayment ability, the liquidity of the collateral, the borrower’s repayment ability, etc., but all these can explain the operation, and will not have a great impact on the loan term.