Mortgage originated from "Mortgage" English Cantonese transliteration, the last century 90's, with the export of commercial housing were introduced, in advancing the reform of the housing system China, mortgage business experienced by foreign banks to the banks, the foreign currency to RMB, foreign people to Chinese, by rapid evolution niche to mass, has become a hot topic among the.

   Mortgage is a concern, there are four reasons: one is to leverage, can realize the need to purchase or wealth, two do not have the chattel mortgage, make an inventory of assets, financing function, three are complex, need certain professional, four is exaggerated, the it looks like the whirling.

   Mortgage is closely linked with our real life, in the side of the story can be found everywhere, the combination of case to introduce several common mistakes.

A, choose repayment more money?

   This is almost the most mentioned topics. The matching principal law and matching the principal law common for example: credit funds from the occupied amount and time, matching interest law must pay more to the loan principal and interest, but in a year for the month fixed mortgage interest, also can match the province products; and matching the principal law while saving interest, but the previous month supply pressure. If you consider early repayment, inflation, the cost of financing and other factors, between the two is hard to tell which is better, to choose their own way can only be based on individual circumstances.

   The benchmark interest rate to 5.94% for example: borrowing 800000 yuan, a period of 20 years, matching interest 5703.79 yuan for the month, the first month of the matching principal repayment 7293.33 yuan.

   Mr. A is a white-collar, family monthly income 12000 yuan, DIR (income repayment ratio) is limited, can only choose matching service law, but through the matching specific information products (such as: Bohai home province "good benefits -", "the development of deep deposit, loan" Everbright "every province") as to save interest purposes.

   Mr. B is in the senior management, monthly family income of more than 20000 yuan, year-end bonus of not less than 100000 yuan, as soon as possible loan settlement plan, this situation can choose matching principal law, even according to the DIR to shorten the loan period. B customers in the choice of mortgage banks, should pay attention to whether the row has a restrictive provisions on the early repayment, to charge prepayment penalty.

Two, long term or short?

   The first problem with different approaches but equally satisfactory results. Long term for the month low, interest cost is high; short term for the month high, repayment pressure. The term to be matched with the revenue and expenditure expectancy, accounting for more than high, family financial flexibility is small, once the accident, impact on the life of large. The reality of life in the "housing slave", is for the pressure is too large, lack of financial flexibility, resulting in a lower standard of living, and even bad loans overdue. Therefore, the bank will usually recommend borrowers choose a longer repayment period, when the financial situation change, the early repayment to reduce interest cost.

   Mr. W is self-employed, income is better, in October 07 year mortgage 3000000 buy a villa, due to relatively optimistic about the expected income, and personal aversion to debt, Mr W chose for a period of 5 years, the annual interest rate of 7.65%, 60000 yuan for the month. But in the 08 years since the second half, financial problems, difficult to maintain more than 50000 yuan per month for the month, Mr. W had to borrow all around, even overdue. Finally through "to the mortgage" loans extended period, to alleviate the financial burden.

   Like Mr Y and Mr W, but Mr. Y doesn't want to own large repayment pressure, coupled with the enterprise financing cost is much higher than the personal mortgage interest rates, the choice of a period of 20 years, the annual interest rate of 7.83%, the month for only 2 yuan, in the global economic crisis, Mr Y's income although decreased, but did not have a negative impact on daily life.

Three, the benefits are that banks earn?

   Customers often hear about: - 1000000 to 2000000, the benefits are that you make to the bank! Zhayiting really like something, on the level of interest rates, 10 years down, interest will be over, but the actual situation is far from being so. On the mortgage benefits, I believe that friends have heard "America Granny and Chinese woman" story, natural without them; at the time value of money and too abstract. Here I'm just an ordinary person home mortgage story:

   At the beginning of 2003, miss L to the unit housing reform to 240000 yuan housing subsidies, because no longer housing distribution unit, miss L at a friend's introduction, Beijing is located in the East sanhuan a large residential one-time purchase of 2 sets of houses, 1 sets of 60 square meters of the 1 bedroom for rent, the other 1 sets of 110 square meters two rooms Erting used to live. Because it is a period of the property, refined decoration price only 6800 yuan / m2, 2 sets of house price only 1160000 yuan.

   Miss L unit housing reform subsidies do Shoufu, to apply for mortgage loans 920000 yuan, took out 100000 yuan to pay taxes and public repair fund, buy furniture, electrical appliances. Because the geographical position is superior, large-sized apartment soon to the price of 4500 yuan a month to rent out, also received 3 months rent deposit, to pay property costs and heating costs.

   5 years of the loan interest rate of 5.76% at the time, Ms. L for a period of 25 years loans, the monthly repayment 5800 yuan, deduct 4500 yuan rental income, miss L monthly actual net repayment 1300 yuan, which was a monthly salary of only 3000 yuan of miss L, the burden is not light, she also had a "housing slave" life.

   But time is not long, miss L units began to rise, from 5000 yuan to 8000 yuan, a few years later reached 10000 yuan. With the improvement of the income, miss L is a good harvest of love, while prices with the follow-up development projects and Metro Line 10 opened to traffic, the highest more than 20000 yuan. Miss L to 18000 yuan per square meter price to sell the rental of large-sized apartment, not only to pay off all loans, retrieved on bank premises licence, also got 200000 cash. Look at the time not to purchase colleagues still worried for the house, miss L is very proud of his first choice.

Four, timely repayment really so important?

   The answer to this problem involves personal credit, is a special topic of concern. There have been many borrowers have had such thoughts: loans as long as the monthly return of just a few days ago, a few days later not what relationship; even some mortgage customers, because the house price falls or with developers, property companies have disputes, take the "default" means to carry out the so-called "human rights", which will give yourself credit report "stain", bring the negative influence for the future financing behavior.

   With the people's Bank credit system perfection and popularization, banks in the loan approval of more and more borrowers past credit investigation, credit report is also known as the residents of the "second card", those who had serious adverse credit records, is likely to be outside the bank credit to.

   Mr. Z is from Beijing, a few years ago foreigners in Beijing purchase a car in Beijing, not on the license, Mr. Z's foreign friend by the name of Mr. Z loan to buy a car, car from a friend, for the month from friend to bear. One, Mr. Z in applying for a credit card, bank credit to poor refused, then Mr. Z learned friends abroad, because has been broken for several months, Mr Z has to compensate for the remaining loan, after many setbacks to the car back. Since then Mr Z often apply for mortgage loans, are rejected by the bank loans, even the wife is also affected by the. Mr. Z will provide a detailed description and supporting materials, to prove himself is not subjective intent, to get bank acceptance.

Five, bank mortgage may pay what cost?

   This problem is the most concerned. For banks, mortgage is creation of interest income, rather than the intermediate business income, in addition to collect overdue penalty interest and a few banks early repayment default payment, any fees charged by banks is to ensure the smooth flow of and the security of credit assets.

   The first is the insurance premium. In the past, the mortgage business, banks usually require the borrower to compulsory insurance to the bank as the "first beneficiary" housing insurance, as against the "who benefits who pays" principle, the requirements for popular borrowers, or borrowers and banks check evidence of both parties at court, so this rule gradually abolished, present only in the mortgage and consumer loans the car will be a variety of mortgage loans to minority.

   The second is the guarantee fee. Yishoufang mortgage loans in general by the developers to provide security, do not charge any security costs; the secondary housing mortgage loans with mortgage loans after the first, also won't guarantee fee, but if the Guarantee Corporation first loan security after the mortgage (usually called "see the deed tax loan"), then the borrower is required to pay the corresponding guarantee fee, some banks due to competition, also have the borrower to pay the charges; personal mortgage loans usually uses the first mortgage loan, the bank does not guarantee fee, but in actual operation, some borrowers by professional security agencies to the bank for loans, will be agencies charge different levels of security services; bank provides the standard car loans are generally vehicle mortgage plus Guarantee Corporation full guarantee, because during the loan Guarantee Corporation shall bear the corresponding liability, so Guarantee Corporation will loan to the borrower according to guarantee fee.

   Third is the assessment fees. Usually only in the secondary housing mortgage loans and personal mortgage loans, due to the need to determine the amount of loan according to the market price of collateral, banks generally require the borrower to provide a certificate issued by the professional assessment agencies recognized by the evaluation report, at present this fee is paid by the borrower.

   Fourth is the mortgage registration fee. In the mortgage process of housing mortgage and car mortgage loans, due to the collateral ownership registration or change registration, relevant departments will receive a fee, stamp duty and other small fee, if a bank outside of the professional service agency, will be required to pay the agency fees, these costs are usually paid by the borrower.

   Fifth lawyers fees. Past bank commissioned a law firm shall bear the customer - service, Banchanquanzheng, agency mortgage registration work, the borrower to pay the lawyer's fees, but due to terminate the agency relationship, mortgage fees has become the past. It is worth mentioning that, with the effect of increasing mortgage loan stock and the economic crisis, individual customers non-performing loans, after repeated collection is invalid, the bank will entrust a lawyer to file a civil lawsuit, the costs incurred by breach of the borrower.

   Mr. T to apply for a mortgage loan in the bank, because of various reasons, for months without repayment, and banks are playing "hide and seek", eventually because of bad loan to be sued the bank, received a court summons, Mr. T took the initiative to contact the bank for repayment, and ensures that no "default", but because the bank has to initiate proceedings, eventually Mr T in the back and impose a punitive interest arrears, also paid the bank fees and court costs, is The loss outweighs the gain.

Six, the implementation of interest rate on the mortgage

   The real estate industry is beneficial to the people's livelihood, is always the focus of regulation and control policy, and interest rates are the most direct, the most effective policy guidance, the most intuitive tool, mortgage interest rates have become the implementation of mortgage subject nowadays is the most sensitive.

   From October 29, 2004 to December 21, 2007, the long-term loan interest rates 9 times in the central bank raised its benchmark interest rate more than 5 years, from 5.76% to 7.83%. In September 27, 2007, Chinese PBC and CBRC jointly issued "on the strengthening of commercial real estate credit management notice" clear requirements, have been using loans to buy houses, but also apply for second (inclusive) or more housing, the proportion of loans for the first payment shall not be less than 40%, the interest rate broke surface 10%. In December 11, 2007 issued the "Supplementary Notice" clearly identified second sets of housing, this policy to avoid mortgage risk at the same time, also curb the excessive growth of mortgage business.

   The second half of 2008, against the impact of a global economic crisis, countries around the world have introduced economic stimulus plan, for stimulating domestic demand consideration, the people's Bank of Chinese from September 16, 2008 to December 23rd to cut interest rates 5 times, more than 5 years of the benchmark interest rate from 7.83% to 5.94%. In October 22, 2008, the people's Bank of China announced that, since October 27, 2008, will limit the commercial individual housing loans interest rates for loans to expand 0.7 times the benchmark interest rate. This means that more than 5 years mortgage interest rates as low as 4.158%, has been close to the provident fund loan 3.87% level.

   At present, the banks have issued detailed rules for the implementation of mortgage interest rates, mainly reflected in the second set of housing and the quality of customer defined, the difference is quite large, which requires the borrower choice, many more, in order to find a more suitable for their own preferential interest rate.

   Mr. D's mortgage rates in the 30 percent off new deal before the central bank, enjoy 15% off preferential. In 2009, Mr. D has been active contact with the bank, hope that the year 6.6555% annual interest rate (7.83% of the benchmark interest rate changed to 4.158% (15% off) 5.94% of the benchmark interest rate 30 percent off), but because Mr D does not meet the conditions for the conversion rate, only 5.049% (5.94% of the benchmark interest rate 15% off). After friends introduced, Mr. D will mortgage to another bank, enjoy a 30 percent off discount, can save hundreds of dollars a month.

   To make a long story short, the mortgage is not mysterious, as a type of retail business, its technical content is not high. Standing in the angle of bank is to do the "matching", pay attention to differ from man to man in operation, recommend suitable varieties for the right customers; stand in the customer point of view is to master the basic knowledge, choose a professional organization operation, especially with the bank staff to fully exchange, verify to professional independent third parties when necessary, so as not to be deceived.

(the abridged published in the "popular financing" in 2009 sixth period always the 312nd period, subject to avoid misunderstanding "5 home")