This year, commercial loans and provident fund loan interest rates have been lowered repeatedly. People who were standing at high levels before were mixed feelings. Some people have begun to consider repaying their loans in advance, and some want to know if there is any chance of lowering their loans when they stand at a high position.
Recently, a fierce news has been circulating in many cities: the high interest rate of 5.88% and above in the early stage is expected to be adjusted to 4.1%!
One stone caused a thousand layers of waves. How true is this revelation?
If the revelation is true, it is absolutely beneficial for those who buy a house at a high level.
Assuming that a loan of 1 million yuan will last for 30 years, the monthly loan can be paid 1,086 yuan less, and the total interest can be paid about 400,000 yuan less. For today's home buyers, it's a real big benefit. Although the original blog cannot be found at present, the discussion and news caused by this are still one after another.
. Regarding whether banks will really reduce the interest rate of in stock loans , some people think that it is very unlikely to let banks reduce the interest rate of the early loan.
Of course, more people are skeptical. After all, this move has too much impact and is not logical, and there is no reason for banks to lower mortgage interest rates.
, and the people who were obsessed said: Although the feeling is fake, I still hope it is real.
For the authenticity of the information, Dr. Fang consulted with multiple parties at the first time. Whether it was a bank staff member or a property consultant, they said that they had not received this message yet.
For those who stand guard at high levels, every reduction in mortgage interest rates is a critical hit.
In the era of information explosion, it is recommended that everyone look at information rationally, identify information, do not believe in rumors or spread rumors, and everything is subject to official news.
So, is there any way to remedy or stop loss?
—The most direct way is to repay in advance
This is also a method that people who stand guard at high mortgage interest rates will generally think of. Because early repayment means that the mortgage repayment cycle ends early, and no matter how the interest rate changes, it will not affect itself. At the same time, the current decline in financial investment returns such as stocks, financial management, and fixed deposits is also aggravating the early repayment of home buyers. (Details click: Xi'an's mortgage interest rate is at least 4.1%. How much money can you save when you pay the loan in advance when you stand guard at a high interest rate?)
——Buying and selling renamed
mainly washes the mortgage loan again through buying and selling and transactions between relatives and friends. Since the mortgage loan after the transaction is calculated based on the current interest rate, the mortgage interest rate has been reduced between selling and buying.
But it should be noted that: you need to find a controllable person. After all, the house is in the other party’s name, and the transaction is real and valid. Secondly, if the other party’s first loan qualification is occupied, it will leave the other party’s mortgage record. When buying the second house, it will be a second house, and the down payment and interest rate will be increased; at the same time, a certain transaction tax and fee cost will be generated, which needs to be calculated in advance to avoid losing money.
—Commercial to public
Of course, it is best to convert commercial to public, especially since the provident fund loan interest rate was lowered to 3.1% on October 1, which is even more so. However, Xi'an does not support the conversion of commercial to public, and commercial to public is also one of the strongest wishes of many home buyers in the past two years.
According to the latest official reply, the official has not directly denied the possibility of "commercial to public", but it should not be possible in the short term.
Currently, the minimum provident fund for the first-home in Xi'an is 2.6% and commercial loans are 4.1%. Will it continue to drop?
According to Dr. Fang’s latest survey of the mortgage interest rates of mainstream banks in Xi’an: the mortgage interest rate for first-home homes in Xi’an is generally 4.1%, while a very small number of banks are 4.15-4.3%; the mortgage interest rate for second-home homes is generally around 5%.
loan of 1 million yuan, with a period of 30 years. When the interest rate is 4.2%, the total repayment is about 1.74 million yuan, the interest payment is about 740,000 yuan, and the monthly payment is about 4,832 yuan; when the interest rate is 5.8%, the total repayment is about 2.11 million yuan, the interest payment is about 1.11 million yuan, and the monthly payment is about 5,867 yuan.
, the monthly payment is 1,035 yuan less, while the total interest payment is 370,000 yuan less.
The provident fund loan interest rate has also been implemented in accordance with the new policy. The interest rate for less than 5 years (including 5 years) is adjusted to 2.6%, and the interest rate for more than 5 years is adjusted to 3.1%. From October 1, you can enjoy this policy by using housing provident fund loans for the first time.
If the maximum amount of provident fund loan is 850,000, the loan is calculated for 30 years and equal principal and interest repayment method, after the 3.1% interest rate is implemented, the monthly monthly payment for provident fund loan will be reduced by 70 yuan, and the cumulative monthly payment for 30 years will be reduced by nearly 30,000 yuan. In terms of commercial loans, according to the notice issued by the People's Bank of China and the China Banking and Insurance Regulatory Commission on September 29, Xi'an does not meet the city where it can independently decide to maintain, lower or cancel the local newly issued first-home housing loan by the end of 2022. Therefore, the reduction in interest rates still depends on whether there will be any changes in the LPR in the subsequent cities.
Although the LPR has not been adjusted in September, many experts have predicted recently that compared with the one-year LPR, the probability of subsequent LPR quotations of more than five years and more will be lowered again in November-December.
If this is true, the mortgage interest rate in Xi'an is likely to have a chance to drop to the third-digit number, but as a home buyer, if you encounter a suitable house, you should seize the current window period and take action in time.
Looking back at the first three quarters of this year, we have seen purchase restrictions, sales restrictions, loan restrictions, and provident fund loan policies have gradually loosened. Now taxes and fees are preferential, which has ushered in all aspects that affect the purchase of a house. For home buyers, this is an environment that has not been seen in the past few years.
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