What Is a Home Loan Deposit?

A home loan, also known as a home mortgage loan, is a form in which a home buyer fills out an application form for a home mortgage loan to a loan bank, and provides legal documents such as ID cards, income certificates, house sales contracts, and guarantee certificates. Documents, the loan bank passed the review, promised a loan to the buyer, and handled the registration and notarization of the real estate mortgage according to the house sale contract provided by the buyer and the mortgage loan contract between the bank and the buyer. The loaned funds will be directly transferred to the bank's account.

Housing Loans

Loan

(1) The interest rate conversion formula for RMB business is (Note: deposit and loan are universal):

1. Daily interest rate (0/000) = annual interest rate (%) ÷ 360 = monthly interest rate () ÷ 30

2. Monthly interest rate () = annual interest rate (%) ÷ 12

(2) Banks may use the cumulative interest method and the interest method to calculate interest.

1. Accumulated interest calculation method accumulates the daily account balance based on the actual number of days, and calculates the interest by multiplying the accumulated number by the daily interest rate. The interest calculation formula is:

Interest = cumulative interest-bearing products × daily interest rate, of which cumulative interest-bearing products = daily balance total.

2. Interest-by-interest method calculates interest on a case-by-case basis according to a pre-determined interest-calculation formula. Interest = principal × interest rate × loan term. There are three specific:

If the interest calculation period is the whole year (month), the interest calculation formula is:

Interest = principal x years (months) x annual (months) interest rate

If the interest accrual period has a whole year (month) and a fraction of days, the interest accrual formula is:

Interest = principal x years (months) x annual (months) interest rate + principal x fractional days x daily interest rates

At the same time, the bank can choose to convert the interest calculation period into actual days to calculate interest, that is, 365 days per year (366 days in a leap year), and each month is the actual number of days in the Gregorian calendar. The interest calculation formula is:

Interest = principal x actual days x daily interest rate

These three calculation formulas are essentially the same, but since the interest rate conversion only takes 360 days a year, when the actual interest rate is calculated, the year will take 365 days to calculate, and the results obtained will be slightly biased. Which formula is used specifically to calculate, the central bank has given financial institutions the right to make their own choices. Therefore, the parties and financial institutions can agree on this in the contract.

(3) Compound interest: Compound interest means to add interest to interest at a certain rate. According to the provisions of the central bank, if the borrower fails to repay the interest within the time agreed in the contract, compound interest will be charged.

(4) Penalty interest: The lender fails to repay the bank loan within the prescribed period, and the penalty interest on the defaulter according to the contract signed with the parties is called the bank penalty interest.

(5) Overdue liquidated damages for loans: the nature is the same as penalties and penalties for the defaulting party.

(6) Formulation and filing of interest calculation methods

The national commercial bank legal person's calculation and settlement rules and the method of interest calculation for deposit and loan business shall be reported to the head office of the People's Bank of China and notified to customers; regional commercial banks and urban credit cooperatives shall be reported to the People s Bank of China branch, provincial capital (capital) cities The central branch records and informs the customers; the rural credit cooperative county federation legal person can formulate the calculation and settlement rules and interest calculation methods of the deposit and loan business according to the actual situation of the county rural credit cooperative, and report it to the People's Bank of China branch, the provincial capital (capital) city center Sub-branch for the record, and the rural credit cooperative legal person will inform the customer.

(VII) Reference basis:

1. "Regulations on the Management of RMB Interest Rates" Yinfa [1999] No. 77.

2. "Circular of the People's Bank of China on Issues Concerning the Interest Rate of RMB Loans" Yinfa [2003] No. 251.

3. Notice of the People's Bank of China on the Calculation and Settlement of Interest on RMB Deposits and Loans Yinfa [2005] No. 129.

houses

1. Borrower's valid ID card and account book;

2. Proof of marital status, if you are unmarried, you need to provide a non-marital certificate, and if you are divorced, you must provide a court civil mediation or divorce certificate (specify that you have not remarried after divorce);

3. Married need to provide valid identity card, household registration book and marriage certificate of spouse;

4. Borrower's

1. Residential housing: the loan amount can reach 70% -80% of the appraised value
2. Apartment houses: the maximum loan amount does not exceed 60% of the appraisal price
3. Villas: The maximum loan amount does not exceed 70% of the appraisal price
4. Commercial housing: the maximum loan amount does not exceed 60% of the appraisal price

1. The borrower fills out an application for housing mortgage before submitting the loan, and submits the following proof of the bank: the borrower's fixed economy issued by the borrower's unit

There are three types of guarantee methods to prevent borrower loan risks: mortgage, pledge and guarantee. Before borrowing, it is necessary to fully understand the true purpose of the borrower's loan (live or invest), the source of income and the status of the family, and prevent it by setting a reasonable guarantee. From the perspective of practicability, feasibility and convenience, housing mortgage should be the most important guarantee method. There are two types of pledge: movable property pledge and right pledge. It is almost impossible for the borrower to find movable assets that are roughly equivalent to the value of the house and are recognized by the lender. With rights as pledge, the rights required by the lender are limited to the deposit slip and bonds. Either there are few people in securities or there is no need to apply for a loan. Units or individuals with sufficient reimbursement capacity can act as guarantors for other people's loans. Under normal circumstances, most people are unwilling to bear such risks. It can be seen that housing mortgages should be used as the most important defense against loan risks.

I. Have legal residence status;

Have a stable occupation and income;

Ability to repay the principal and interest of the loan on schedule;

4.Pledged or pledged assets approved by the lending bank, or (and) guaranteed by a guarantor that meets the required conditions;

5. There is a contract or agreement to purchase a house;

6. When applying for a loan, the construction bank has a deposit of not less than 30% of the funds required to purchase the house; if a prepayment for the purchase of the house has been paid to the housing unit, the original and copy of the payment receipt need to be provided.

7. Other conditions stipulated by the loan bank.

I. Repay your mortgage in a timely manner

The principle of good faith is the imperial clause of civil activities, and it is also a clause that we must abide by when performing our contracts. As the parties to a mortgage contract, it is our obligation to make timely and full repayments in accordance with the terms of the contract. Now the country has implemented the inter-bank credit system. If you do not repay the loan in a timely manner, you will enter the black list of the bank's credit system, which will affect your future business in the bank, so each of us must repay in time in accordance with the contract.

Second, carefully choose the repayment method

Generally, the mortgage loan contract is a standard clause contract. There are generally two types of repayment methods. One is the equal principal and interest repayment method. This method is to repay the same amount of loans (including the principal) during the repayment period. Gold and interest), because the monthly repayment amount is fixed, family income can be controlled in a planned way, and it is also convenient for each family to determine their ability to repay loans according to their own income. The other is the equal principal repayment method: the principal is repaid monthly in equal amounts, and then the interest is calculated based on the remaining principal. Therefore, because there is more principal in the initial period, more interest will be paid, so that the repayment amount is in the initial stage It is more, and it decreases monthly in the subsequent time. The advantage of this method is that it reduces the interest expense because it pays a larger amount in the early stage, which is more suitable for families with strong repayment ability. When signing a loan contract, you can choose the repayment method according to your actual situation, so as to avoid breach of contract.

3. Reasonable use of housing provident fund

The housing provident fund is the long-term housing savings fund deposited by the unit and its employees, and is the main form of housing distribution monetization, socialization and legalization. The housing provident fund system is an important housing social security system stipulated by national laws, which is compulsory, mutual assistance and guarantee. Units and individual employees must fulfill their obligation to deposit housing provident funds according to law. One of the advantages of the housing provident fund is that it has lower interest rates than commercial banks. If your unit pays the housing provident fund for you, you can use the housing provident fund loan to repay the mortgage. This will not only reduce your monthly repayment pressure. Compared with the total loan repayment, the total expenditure of using housing provident fund loans is less than the total loan of commercial banks.

4. Reasonably determine the term of the loan

Mortgage loan contracts generally have provisions for early repayment. Early repayment must be approved by the bank, because early repayment of the loan will affect the bank's forward earnings. In actual life, banks usually charge a liquidated penalty for early repayment. Of course, the policies of different banks will be different. Therefore, when signing a mortgage contract, buyers must choose a reasonable loan term according to their actual conditions, so as not to arrive in advance. Repaying loans causes unnecessary losses to myself.