Regret buying a second suite with a loan. Why?

Buying a house is a big event, and many people are very cautious on the way to buy a house! Some property buyers want to buy a second suite, so how can couples buy a second suite? Regret buying a second suite with a loan. Why? Some friends took out a loan to buy a second house. What are the advantages and disadvantages of the second home loan? Let's get to know each other.

Regret buying a second suite with a loan. Why?

Friends who regret buying a second suite have the following reasons:

1, mainly because the down payment ratio and loan interest rate of the second suite are higher than those of the first suite, which invisibly increases the family's economic pressure.

2. For the first suite, the minimum ratio is 30%, that is, the maximum loan amount does not exceed 70% of the value of the purchased property; The minimum down payment ratio of the second suite is 40%, that is, the maximum loan amount does not exceed 60% of the value of the purchased property. In some areas, the down payment ratio even reaches 60%, so the down payment has to pay more money.

3. Some friends who have not paid off the first set of housing provident fund loans can only choose commercial loans when purchasing the second and above houses. At this time, the loan to buy a second apartment has to implement the New Deal, and the loan interest rate cannot be lower than the benchmark interest rate of 1. 1 times, which is a very expensive expenditure.

4. The choice of repayment method will also determine whether it is cost-effective to buy a second suite. In order to save money, try to choose the repayment method in average capital. Average capital means that the principal remains unchanged, the interest decreases month by month, and the number of monthly repayments decreases. Although the pressure in the early stage is relatively large, the overall interest is relatively small. While the equal principal and interest increase month by month, the interest decreases month by month, and the monthly repayment amount remains unchanged. Although the pressure is the same every month, the overall interest generated is more.

How can a couple buy a second suite?

If the husband and wife don't want to sell the 1 apartment when buying the second suite, then I personally think it is the most cost-effective to apply for provident fund loans in the name of both husband and wife, because the interest rate of provident fund loans is the lowest as far as the loan methods can be selected at present, and the interest rate stipulated by most banks is around 3.25%. Now buying a second house, the ratio of mortgage interest rate to down payment is higher than that of 1. First, the interest rate of the second house rises 15% on the basis of 3.25%, and second, the down payment is about 20% to 30% higher than that of the first house.

The first house mortgage is paid off in advance, and the second house can be paid down by 30%, so the repayment pressure will be less and the interest rate will be more favorable; The first mortgage will continue to be repaid, and the second house will be paid down by 70%, so the monthly repayment will be less; Another way is to buy a house in the name of parents, and this subject will be more risky. In fact, if there is enough trust between husband and wife, they can choose to buy a house one by one instead of buying it together in the name of husband and wife, which will be better. This requires that when buying the first house, it is not a family, but an individual.

The above is about why I regret the loan to buy a second suite, and how couples can buy a second suite cost-effectively. 202 1 the policy of buying a second house has relevant provisions on the standard definition of the second house and the down payment ratio of the second house. Pay attention here and learn more about the housing policy of provident fund loans.