Precautions when applying for decoration loan

2022-07-22
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I bought a new house and didn't have any extra savings on hand. What to do at this time? Many people think of the way of decoration loan to solve this problem. However, we should pay attention to some problems when applying for decoration loans. Only by paying attention to these problems can we ensure the smooth progress of applying for loans and repayment after loans. Next, the small editor of the housing finance office will specifically introduce to you the precautions when applying for decoration loans

precautions when applying for decoration loan:

first, choose the right lending institution to apply for decoration loan.

at present, there are many loan ways available to borrowers. Borrowers should compare three loans when applying for loans, and make reasonable choices in combination with their own conditions to ensure the smooth acquisition of loans. The same loan may be different, and the conditions of borrowers required by loan institutions are also different

II. Prepare the loan procedures in advance when applying for decoration loan

before applying for decoration loan, the borrower had better consult the lending bank about "what procedures are required for loan" in order to prepare in advance, so as to save the loan approval time. Generally, before the borrower applies for a loan, the loan manager will tell the borrower some information he needs. At this time, the borrower had better prepare it all at once

third, when applying for decoration loans, you should choose a suitable repayment method

when applying for decoration loans, the borrower should choose a suitable repayment method according to his own repayment ability and capital needs, so as to ensure the smooth repayment of the loan and avoid excessive capital pressure. For the repayment of bank loans, there are two repayment methods: equal principal and equal principal and interest:

the characteristic of the equal principal and interest method is that the monthly repayment amount is the same. In the distribution proportion of "principal and interest" in the monthly supply, the proportion of interest repaid in the first half of the period is large and the proportion of principal is small. After the repayment period is over half, it gradually turns to a large proportion of principal and a small proportion of interest. The total interest paid is more than the equivalent principal method, and the longer the loan term, the greater the difference in interest. However, since the repayment amount in this way is the same every month, it is suitable for family expenditure plans, especially young people, to use the principal and interest method, because with age or job promotion, income will increase

the characteristic of the equal principal method is that the monthly repayment amount is different. It divides the loan amount equally according to the total number of months of repayment (equal principal), plus the monthly interest of the remaining principal of the previous period, forming a monthly repayment amount. Therefore, the repayment amount of the equal principal method in the first month is the most, and then decreases month by month, and the more, the less

IV. repayment in full and on time after obtaining the loan

after receiving the loan, the borrower must repay in full and on time in accordance with the provisions of the loan contract, leaving a good personal credit record, which will be conducive to the handling of bank credit business in the future

this situation is usually encountered when applying for decoration loans. Apply for an unsecured loan. Generally speaking, the amount is not enough. Apply for a house mortgage loan, and you can't use that much money

the mortgage rate of Shanghai real estate finance exchange is about 80%. The loan is made rapidly in 24 hours. The loan period is 1 month to 5 years. Repayment can be made in advance and extended. The interest is paid quarterly after the principal. The monthly interest rate of Shanghai real estate mortgage loan is about 0.5%. Accept real estate mortgage loans and real estate secondary mortgage loans in Shanghai, Beijing, Shenzhen, Hangzhou and Zhengzhou

these are the five matters that need to be paid attention to when applying for decoration loans. The Xiaobian of the housing finance institute hopes to provide these information, which can provide some useful help for borrowers when applying for decoration loans

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