How to apply for a combination mortgage loan
In the current real estate market, combined mortgage loans have become the first choice for many home buyers due to their flexibility and lower interest rates. This article will introduce in detail the application process, conditions and precautions for combined housing loans, and provide you with comprehensive guidance based on the hot topics on the Internet in the past 10 days.
1. What is a portfolio mortgage loan?
Combination housing loan refers to a loan method that combines provident fund loans and commercial loans. This loan method can make full use of the low interest rate advantage of provident fund loans, and at the same time make up for the shortage of provident fund loans through commercial loans.
2. Application conditions for combined housing loans
To apply for a combined mortgage loan, you need to meet the following conditions:
| Conditions | Specific requirements |
|---|---|
| Provident fund deposit | Continuous payment for more than 6 months |
| Credit history | No bad credit history |
| Proof of income | Monthly income must cover more than 2 times of monthly payment |
| Property type | Only for residential properties |
3. Application process for combined housing loan
The application process for a combined mortgage loan is divided into the following steps:
| steps | Specific operations |
|---|---|
| 1. Preliminary review | Submit preliminary information to the bank or provident fund center for pre-review |
| 2. Submit application | Fill out the loan application form and submit complete information |
| 3. Review | The bank and provident fund center will review separately. |
| 4. Sign a contract | After passing the review, sign the loan contract |
| 5. Loans | Banks and provident fund centers provide loans separately |
4. Advantages of combined housing loans
Portfolio mortgages have the following advantages:
| Advantages | Description |
|---|---|
| low interest rates | The interest rate on the provident fund part is lower, and the overall loan cost is reduced. |
| High limit | Can make up for the problem of insufficient provident fund loan limit |
| High flexibility | You can adjust the ratio of provident fund and commercial loans according to your own circumstances. |
5. Hot topics on the Internet in the past 10 days
Combining the hot topics on the Internet in the past 10 days, the following is the content related to combined housing loans:
| hot topics | Main content |
|---|---|
| Mortgage interest rates cut | Banks in many places have lowered mortgage interest rates, making portfolio mortgages more popular |
| Provident Fund Policy Adjustments | Some cities have increased the provident fund loan limit, which is beneficial to portfolio housing loans. |
| Home purchase subsidy | Home purchase subsidy policies have been launched in many places, and combined mortgage loans can be stacked to enjoy |
6. Precautions
When applying for a combination mortgage loan, you should pay attention to the following points:
| Things to note | Description |
|---|---|
| loan ratio | The ratio of provident fund and commercial loans needs to be planned reasonably |
| Repayment method | Choose a repayment method that suits your situation |
| Early repayment | Some banks have liquidated damages for early repayment, so you need to know in advance. |
7. Conclusion
As a flexible loan method, portfolio mortgage loans can effectively reduce the cost of purchasing a home. During the application process, you need to fully understand your own conditions and bank policies, and reasonably plan the loan ratio and repayment method. Combined with current hot topics and policy adjustments, portfolio mortgage loans will become the preferred option for more home buyers.
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