How to get a loan in an area without purchase restrictions? The latest policy and practical guidance for 2024
Recently, many places across the country have relaxed their property market purchase restriction policies, and areas without purchase restrictions have become the focus of home buyers. How to successfully obtain a loan in an area without purchase restrictions? This article combines hot topics across the Internet in the past 10 days (as of June 2024) to sort out the latest policies and practical points.
1. The latest developments in loan policies in areas without purchase restrictions
| city/region | First home loan interest rate | Second house accreditation standards | Loan ratio upper limit |
|---|---|---|---|
| Guangzhou Zengcheng/Conghua | 3.8% | Accept the loan but not the house | 70% off the first set |
| Chengdu outer suburbs five districts | 4.0% | If you don’t own a house but have a loan, it counts as your first home. | 60% for second set |
| Wuhan Economic Development Zone | 3.9% | Owning a house in other places without a mortgage is considered your first home | 80% for first set |
2. Core conditions for loan application
1.Credit requirements: Overdue no more than 6 times in the past 2 years, no current overdue
2.Proof of income: Monthly income needs to cover more than 2 times of monthly payment
3.age limit: Primary lender’s age + loan term ≤ 70 years old
4.Material list: ID card, household register, income certificate, house purchase contract, down payment voucher
3. Answers to popular questions (top 3 searches in the past 10 days)
| question | solution | Things to note |
|---|---|---|
| Can provident funds from other places be used? | 11 cities support off-site provident fund loans | Requires continuous payment for 12 months |
| How do freelancers get loans? | Provide bank statement + tax certificate | Some banks require asset guarantees |
| Portfolio loan approval time | 2 weeks for commercial loan + 4 weeks for provident fund loan | Materials need to be submitted simultaneously |
4. Comparison of bank interest rates (latest in June 2024)
| bank | First home interest rate | Second house interest rate | Loan time limit |
|---|---|---|---|
| ICBC | 3.85% | 4.45% | 10 working days |
| China Construction Bank | 3.82% | 4.40% | 7 working days |
| China Merchants Bank | 3.78% | 4.35% | 5 working days |
5. Guide to avoid pitfalls
1.Be wary of the "zero down payment" trap: The zero down payment promoted by some developers may involve illegal financing
2.Verify regional policies: Different regions in the same city may have differentiated policies
3.Calculate taxes in advance: Special deed tax standards (such as 1.5%) may apply to areas without purchase restrictions.
4.Pay attention to loan conditions: Some banks require capped lending
Summary: Loans in areas without purchase restrictions require comprehensive evaluation of policies, bank preferences and personal qualifications. It is recommended that home buyers give priority to the banks designated for cooperative real estate projects. The latest data shows that in 2024, the average loan approval time in areas without purchase restrictions will be 3-5 working days faster than in areas with purchase restrictions.
check the details
check the details
en
