What is the down payment ratio for an apartment?

The down payment ratio for an apartment is 20-50%, and the specific ratio will be determined according to the nature of the property rights of the apartment purchased.

1. Residential apartments: The property rights are ordinary residences with a property rights period of 70 years. When purchasing, you can apply for provident fund loans, commercial loans and combination loans. Due to the small size of the apartment, you cannot apply for provident fund loans to purchase. The minimum down payment can be as low as 20%; if you apply for a commercial loan, the down payment is usually 30%.

2. Commercial and residential apartments: The property rights are commercial buildings with a property rights period of 40 or 50 years. You can only apply for commercial loans when purchasing, with a minimum down payment ratio of 50% and a maximum loan term of only 10 Year.

Apartment loan procedures

1. The applicant brings the information to the management center for consultation, application, and fills in the application form;

2. After the center approves the application, the applicant Issue the entrustment notice;

3. After receiving the notice, the applicant brings all the original documents to the bank to sign the contract, etc., and at the same time goes through the notarization procedures at the notary office;

4. The applicant holds the signature The good contract information will have to be stamped by the house seller;

5. The applicant will wait until the local real estate management office handles the mortgage registration with the guaranteed loan contract (mortgage contract);

6 1. The applicant takes the registered loan contract (mortgage contract) and notarial certificate to the housing provident fund service hall to receive the transfer notice, and finally goes to the bank to handle the transfer procedures with the transfer notice.

Notes on apartment loans

1. Although apartments can be loaned, the loan interest rate will be higher than that of residential houses, and the down payment will also be high. Apartments are commercial land, and the property rights are generally 40 years, so the loan period for apartments will be relatively short, generally no more than 10 years. Moreover, apartments cannot apply for provident fund loans.

2. When applying for a loan, you must do what you can and only do so in moderation. Some people think that the higher the loan amount, the better, but you must understand that loans require interest payments. The higher the loan amount and the longer the loan term, the higher the interest.

3. The materials submitted for apartment loan must be true and valid. If you submit false materials to the bank, it may affect the review and prevent you from disbursing the loan. If the situation is serious and you cannot get a loan, causing the mortgage loan to be overdue, the developer has relevant regulations and requires you to pay liquidated damages.