How to calculate the mortgage loan term? Analysis of hot topics on the Internet in the past 10 days
Recently, adjustments to mortgage policies and loan term calculations have become the focus of heated discussions across the Internet. As many places relax purchase restrictions and reduce down payment ratios, home buyers are paying more attention to the choice of mortgage length. This article will combine recent hot topics and provide you with a detailed analysis of the calculation method of mortgage loan period through structured data.
1. Hot topics related to mortgage loans in the past 10 days across the Internet
| Ranking | topic | heat index |
|---|---|---|
| 1 | Many places have relaxed mortgage policies | 9.8 |
| 2 | Is it appropriate to repay the loan early? | 9.5 |
| 3 | Loan term calculation method | 9.2 |
| 4 | Impact of LPR interest rate cut | 8.7 |
| 5 | New regulations on provident fund loans | 8.5 |
2. Calculation method of mortgage loan period
The loan term of a mortgage is usually affected by multiple factors. The following are the latest calculation methods and rules:
| Influencing factors | Calculation method | Latest policy adjustments |
|---|---|---|
| Borrower's age | Maximum number of years = 70-Borrower’s age | Some banks have relaxed the age limit to 75 |
| House age | Loan term + house age ≤ 50 years | First-tier cities relaxed to 60 years |
| Loan type | The maximum term for commercial loans is 30 years, and the maximum term for provident funds is 30 years. | Portfolio loan terms must be consistent |
| repayment ability | Monthly payment ≤ 50% of monthly income | Adjusted to 55% in some areas |
3. Loan term selection strategy
1.Young people buying houses: It is recommended to choose the longest term of 30 years to reduce the monthly payment pressure and use time to exchange for financial value.
2.middle-aged home buyers: You can choose a term of 20-25 years to balance the total repayment interest and monthly payment pressure.
3.Invest in property: You can choose 10-15 years for short-term holdings, and 25-30 years for long-term holdings.
4. Recent changes in mortgage policies
| city | Policy content | Implementation time |
|---|---|---|
| Guangzhou | First-time home interest rate drops to 4.1% | August 2024 |
| Shenzhen | Provident fund loan limit increased to 1.2 million | September 2024 |
| Hangzhou | Cancel the "recognize the house and subscribe for the loan" | August 2024 |
| Wuhan | Allow "business-to-public" loans | September 2024 |
5. Expert advice
1. The longer the loan term is not, the better. Age, income growth expectations and investment return rate need to be considered comprehensively.
2. In the current low interest rate environment, appropriately extending the loan term can provide greater funding flexibility.
3. Pay attention to the adjustments to provident fund policies in various places. Some cities have increased loan amounts and relaxed age limits.
4. Evaluate your financial situation regularly and make partial repayments in advance to save interest expenses if necessary.
6. Frequently Asked Questions
Q: Can retirees apply for mortgage loans?
A: Yes, but the loan period will be subject to age restrictions, usually no more than 70-75 years old.
Q: How to calculate the term of second-hand housing loan?
A: Both the borrower’s age and the age of the house need to be considered, whichever is lower.
Q: Can the loan term be changed midway?
A: Some banks support term changes, but you need to re-evaluate your qualifications and pay a handling fee.
Recently, as real estate market policies continue to be loosened, the rules for calculating the life of mortgage loans are also constantly being optimized. It is recommended that home buyers reasonably plan the loan period based on their own circumstances to achieve the optimal home purchase plan.
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