What Is a Minimum Down Payment?

When buying a house, in general, the down payment is 30%. Calculate your loan life and loan amount based on your proof of salary and your age.

Down payment

Several banks and official sources said on Monday that the central bank will introduce

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It is said that the CBRC has clearly expressed the hope that the down payment ratio of commercial loans will be increased from the current 30% to 40% -50%. Gong Ping, deputy general manager of Beijing Central Plains' third-level marketing department, believes that the purpose of this measure is basically consistent with the purpose of a series of regulatory policies recently introduced. They are all aimed at combating speculation, using the regulatory role of financial leverage, and suppressing demand To stabilize housing prices. Because from this period of time, the rise in house prices across the country has accelerated, according to figures from the National Development and Reform Commission, the sales prices of houses in 70 large and medium-sized cities nationwide increased by 7.1% year-on-year in June. Although in terms of supply, the state and local governments are also taking measures to speed up and increase the supply of housing, and even subdivide it into a structural supply allocation. Take Beijing as an example. Eight were launched and will be listed in large quantities next year. It is expected that there will be more than 20,000 residential supplies, but due to the incompleteness of many purchase details and eligibility information, it will take 1-2 years for new houses to be acquired. During the development and construction period, real supply cannot be formed in a short period of time, nor can it have a certain degree of impact and effect on the market in the short term like policies that curb demand. Therefore, raising the down payment on loans is also an alternative method of regulating the property market.

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Recently, rumors across the country will increase

Minimum down payment for second home purchase is reduced to 20%

The Ministry of Housing and Urban-Rural Development, the Ministry of Finance, and the People's Bank of China issued the Notice on Adjusting the Minimum Down Payment for Housing Provident Fund for Individual Housing Loans at the end of August 2015. The Notice requires that from September 1, Residents whose homes have already settled their corresponding home purchase loans, and if they apply for housing provident fund entrusted loans to purchase homes again to improve their living conditions, the minimum down payment ratio is reduced from 30% to 20%. Beijing, Shanghai, Guangzhou, and Shenzhen may, on the basis of the unified national policy and in accordance with local conditions, independently determine the minimum down payment ratio for applying for a housing provident fund entrusted loan to purchase a second home.

This is five months after the adjustment of the "330" provident fund policy, and another adjustment to the provident fund related policies. Looking back on March 30 this year, the Central Bank, the Ministry of Housing and Construction, and the China Banking Regulatory Commission jointly issued the "Notice on Issues Concerning Personal Housing Loan Policies". After the provident fund policy was adjusted, the first set of ordinary self-owned housing provident fund loans no longer distinguished by area and were uniformly adjusted to the minimum down payment. 20%. Prior to this adjustment, the minimum down payment ratio for the first set of ordinary self-occupied housing fund loans below 90 square meters was 20%; for those over 90 square meters, the minimum down payment ratio was 30%. At the same time, the "330 Policy" supported the use of provident funds to purchase two suites, and proposed to deposit housing workers and families who own a house and have settled the corresponding purchase loans to apply for housing provident fund entrusted loans to buy ordinary homes to improve living conditions. , The minimum down payment ratio is 30%.

The down payment for the purchase of two housing units by the housing provident fund has been reduced again. For households that own a house and have settled the corresponding purchase loan, compared with the "330" New Deal, the down payment ratio has dropped from 30% to 20%, which is no longer the same as the first one. different.

Market analysts believe that the adjustment of the provident fund may have a certain promoting effect on improving demand. According to the provident fund new policy, a house with a total price of 1 million yuan, the original down payment required 300,000 yuan, now 200,000 yuan, to improve the home purchase cost has been reduced.

Market participants have a more consistent view that the new provident fund policy will have different impacts on different cities, especially for third- and fourth-tier cities, the effect will be more obvious. "From the perspective of the actual operation process, there may be pressure in key second-tier cities. On the one hand, it is an established fact that house prices have risen, and on the other hand, there may be risks of insufficient provident fund loans. Therefore, it is expected that in the actual implementation process, Cities will face better policy support. Second-tier cities may choose the best option and adjust the provident fund loan policy. Said Yan Yuejin, research director of the Think Tank Center of the E-House Research Institute.

For first-tier cities, it doesn't make much sense to adjust the down payment ratio of two houses to 20%. This is because first-tier cities have higher housing prices, with a total price of several million units. For example, in Beijing, the maximum loan amount is 1.2 million yuan. For the vast majority of home buyers, this 1.2 million line is not enough. If you want to use the housing provident fund, you also need to increase the proportion of down payment. ^[1]