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What are the payment methods for buying a house? Can the full payment for buying a house be paid in

Many people think that when we buy a house, it is full payment and mortgage. In fact, there are five ways to pay for a house: full one-time payment, full installment payment, provident fund loan, commercial loan and portfolio loan. What are the characteristics and advantages and disadvantages of these five ways of payment?

1、 Full payment (lump sum payment)

The buyer pays all the house money at one time, which is the favorite payment method of developers and second-hand homeowners. There is no one, because the money is immediately received in the hands.

The benefits to buyers are as follows:

(1) Strive for more discounts and concessions by means of full payment;

(2) If it is an existing house and the developer has released the mortgage from the bank, he can immediately run the house and put the house under his own name as soon as possible. Second hand housing also has no concerns, which can also be handled immediately;

(3) There is no need to repay bank interest loans;

(4) Facilitate the resale and mortgage of their own real estate in the later stage.

2、 Full payment by installments

The buyer shall pay the purchase price to the developer or second-hand homeowner in several times. Generally, the full installment of the developer is limited to 2-3 months, and the second-hand house varies from person to person.

In this way, compared with the one-time payment of the full amount, buyers have a certain room for maneuver and fund-raising. Also because you don't need to go through the bank, you can master the rhythm yourself.

3、 Provident fund loan

Buyers use their own housing provident fund. On the premise of conforming to the local provident fund use system, they submit an application to the provident fund management center to make loans for the houses they want to buy.

1. Benefits of provident fund loans

The biggest advantage of provident fund loan is that the loan interest rate is very low. It is a welfare or subsidy loan for legal tax paying residents. Compared with commercial loans, you can save a lot of interest expenses.

2. Disadvantages of provident fund loan

The conditions for the use of provident fund loans are relatively harsh, and not everyone can meet the standards. The audit time is also very long, sometimes more than half a year, resulting in many developers and second-hand homeowners unwilling to sell to buyers using provident fund loans.

There is a certain upper limit on the amount of provident fund loans. Most of the time, the proportion of down payment must be greatly increased or mixed loans can be used to fill the vacancy.

4、 Commercial loan

After the corresponding down payment is paid, the loan is made through a commercial bank. Commercial loans have fast approval time, wide application conditions and no strict restrictions on the amount of provident fund loans. Therefore, the main way of house purchase loans is commercial loans.

Developers and second-hand homeowners are also more receptive to commercial loans than provident funds. At present, commercial banks only need 7-10 working days from application to loan, and there will be a certain discount on the interest rate of the first house loan, there are relatively few audit materials, and the approval is relatively easy to pass. But the commercial loan interest rate is much higher than the provident fund loan interest rate.

5、 Portfolio loan

Hybrid loan is a payment method used jointly by provident fund loan and commercial loan in the process of buying a house. It is often used when the use limit of provident fund loan reaches the upper limit and the remaining amount cannot be paid at one time.

This payment method can save money for buyers to the greatest extent, not only do not increase the down payment ratio, but also reduce the loan interest rate. Of course, correspondingly, some sellers are unwilling to wait, the loan review process is cumbersome, the waiting time is long, and it consumes energy.

Remind buyers that if they have enough economic capacity, they can choose to pay in full. Although the money may depreciate in the future, the full payment will be less and there will be a lot of bank interest. If the economic ability is insufficient, we can choose to buy a house with a loan. Although the loan will generate bank interest, it can also let us live in our own house and have our own home early.