What s going on with the installment payment for buying a house

Different payment methods.

Payment methods are divided into one-time payments and installments. There are two situations of installment payment: one is that the buyer pays the house payment to the real estate developer in installments; Another situation is that the first installment of the buyer pays directly to the real estate developer, and the balance is paid by the bank to the real estate developer through the loan, and the buyer repays the loan to the bank in installments.

To understand this problem, when there is a dispute between the buyer and the real estate developer, it can be understood that the amount of compensation required by the real estate developer is different in the case of different installment payments. In the former case, it is the price paid by the buyer to the real estate agent; In the latter case, the entire payment is made for the house, not the down payment and the loan that has been repaid to the bank.

The study of payment terms.

The payment period is directly related to the interests of the buyer, and the author suggests that the buyer should make the first payment within () days after the contract is completed and registered, whether it is a one-time payment or an installment payment. The advantages of this are: 1. Verify the authenticity of the "five certificates" provided by the real estate developer with the help of the record; 2. Check whether the house you bought has been mortgaged with the help of the record; 3. Create preconditions for loans to avoid real estate developers dragging their feet and not filing to affect the processing of loans; 4. Avoid the trouble of refunding when the contract cannot be filed.

The term of installment payment also comes in many forms: if the buyer pays in installments himself, usually the down payment is paid first, and then the second payment is paid after receiving the notice of delivery from the real estate developer; If it is divided into three installments, the third payment will be paid within a certain period of time after moving in. In this way, the total payment paid by the buyer is usually more than the one-time payment, but at the same time, it can reduce the possible losses of the off-plan property, such as the "unfinished" house, and the price of the house exceeds the down payment and the buyer's own economic situation changes.

Loan instalments usually take several years to pay off, and the key here is when the installment starts in addition to the down payment, in other words, when the lending bank hands over the buyer's loan to the real estate developer. This time can start as soon as the loan is completed, or it can start when the house is delivered, and the latter is more beneficial to the buyer.

Of course, how to pay is not wishful thinking on the part of the buyer, if the real estate developer does not have the strength to build a house with the buyer's money, they usually will not agree to the buyer's second installment payment time to hand over the house, in this case, the buyer can only decide whether to buy the real estate agent's house in addition to fighting.

Options for different loans.

Due to the large amount of money to buy a house, buyers usually cannot afford to pay for the house with their existing deposits, and can only complete it by taking out a loan from the bank.

20% or 30% or more down payment. It depends on your own situation and the requirements of the local bank for the lender. It also depends on whether you buy a first-hand house or a second-hand house.

Generally, the construction area is less than 90 square meters, and you can make a loan of 8%, but the lender needs to meet the loan conditions. This condition depends on the regulations of your local bank.

Generally, the first loan to buy a house can be made into a 7% loan.

2nd time to buy, 3rd, 4th time. It is based on your previous loan records and the comprehensive assessment of the credit bank. Generally, you can borrow 7% for the second time, but basically you can't borrow 7% in the future.

For example, if you buy a house of 300,000 yuan, and now the down payment is 3 percent, which is 90,000 yuan, and then apply for a loan from the bank, and the bank will give you the rest of the money, and repay the bank interest plus principal every month.

30% of the total price of the house you want to buy is the down payment, (30% in general), the down payment must be paid, and this must be made. What happens after you make a down payment? You can take out a mortgage loan, that is, a loan from a bank, which is collateralized by your heart, and then an installment loan, which you can negotiate with the developer and the bank to pay off in several installments, specific time.

If it is three times, it is generally a one-time handover and one-time check-in. Plus the down payment that time. Do you understand that?

What does installment mean.

Legal Analysis: Buying a house can be paid in installments. Buyers can select the purchase area in advance, understand the background of the property and the real estate**, roughly estimate their ability to repay the loan, and comprehensively consider their own income, expenses and the housing prices of the purchased area and many other factors to calculate the total price and average price of the house that can be purchased at this stage, so as to determine the use of full payment or mortgage installments.

Legal basis: Article 26 of the General Principles of Loans shall assess the credit rating of the borrower based on factors such as the quality of the borrower's leaders, economic strength, capital structure, performance of contracts, operating efficiency and development prospects. The rating may be carried out independently by the lender, in-house, or by an appraisal agency approved by the competent authority.

Article 634 of the Civil Code of the People's Republic of China If the amount of the due price is not paid by the buyer in installments reaches one-fifth of the total price, and the buyer fails to pay the due price within a reasonable period of time after being reminded, the seller may request the buyer to pay the full price or terminate the contract. If the seller terminates the contract, it may request payment of royalties for the subject matter from the buyer.

The steps to buy a house in installments are: 1. The buyer applies to the lending bank. 2. The bank will review it according to the specific situation such as salary flow.

3. After the review is passed, the bank will require the buyer to go through the mortgage registration with the purchase contract. 4. After completing the procedures, the bank will directly lend the loan to the developer.

[Legal basis].

Article 3 of the Administrative Measures for the Sales of Commodity Housing includes the sale of commercial housing and the pre-sale of commercial housing. The term "commercial housing for sale" in these measures refers to the behavior of real estate development enterprises to give the buyer the commercial housing that has passed the completion and acceptance, and the buyer pays the house price. The pre-sale of commercial housing in these measures refers to the act of real estate development enterprises giving the commercial housing under construction to the buyer in advance, and the buyer pays the deposit or house price.

Article 4 Real estate development enterprises may sell commercial houses on their own, or they may entrust real estate intermediary service agencies to sell commercial houses.

The installment method of buying a house is generally to pay in several installments with the progress of the project after paying off the first installment of the house until it is fully paid after the delivery of the house, and there are two ways: interest-free payment and low-interest installment payment. Although installment payment can reduce the financing pressure and capital risk, it is time-consuming and laborious, and it cannot enjoy preferential treatment.

That is, the so-called real estate mortgage loan, which is a payment method in which the bank pays the house price to the real estate developer in advance, and then the buyer pays the loan principal and interest to the bank on a monthly basis according to the agreement. Bank mortgage loans allow home buyers to truly enjoy the advantages of bank financing, but the procedures are more stringent. At present, China adopts a combination of fixed interest rate and floating interest rate, and the interest rate of personal housing loans is fixed for one year, and the interest rate level of the current year is determined according to the corresponding grade interest rate at that time in the first fiscal year.

At present, bank mortgage loans are the most important way for Shanghai citizens to purchase commercial housing.

Mortgage loans are based on the nature of the current loans in the market, including personal housing provident fund loans, personal housing commercial loans, housing savings loans, and real estate cooperation.

1. The main types of loans to buy houses.

1. Housing provident fund loan: For residents who have participated in the payment of housing provident fund, low-interest loans from the housing provident fund should be preferred when taking out loans to buy houses. Housing provident fund loans have the nature of policy subsidies, and the loan interest rate is very low, not only lower than the commercial bank loan interest rate in the same period (only half of the commercial bank mortgage interest rate), but also lower than the commercial bank deposit interest rate in the same period, that is, there is a difference between the housing provident fund mortgage interest rate and the bank deposit interest rate.

At the same time, the housing provident fund loan is charged in half when going through the mortgage and insurance related procedures.

2. Personal housing portfolio loan: The maximum amount of provident fund loans that can be issued by the housing provident fund management center is generally 10-290,000 yuan. Together, these two types of loans are called portfolio loans.

This business can be handled by the real estate credit department of a bank. Portfolio loans are more likely to be chosen by borrowers because of their moderate interest rates and large loan amounts.

3. Personal housing commercial loans: The above two loan methods are limited to the use of employees who have paid the housing provident fund, and there are many restrictions, so those who have not paid the housing provident fund are not eligible to apply for loans, but they can apply for personal housing guarantee loans from commercial banks, that is, bank mortgage loans. As long as the balance of your deposit in the loan bank accounts for no less than 30% of the amount of funds required to purchase a house, and you use it as a down payment for the purchase of a house, and you have assets approved by the lending bank as collateral or pledge, or a unit or individual with sufficient solvency as a guarantor to repay the principal and interest of the loan and bear joint and several liability, then you can apply for a bank mortgage loan.