When does repayment start after the mortgage loan is disbursed?

When do you start repaying a home loan?

1. Generally speaking, whether it is a first-hand house or a second-hand house, repayment usually starts from the second month of the bank loan. payment.

2. Among them, the issue of off-plan housing is more complex and difficult to judge. Developers can only take out mortgages after obtaining a pre-sale permit. Generally, you can only apply for a pre-sale permit if you are building a multi-story house.

3. When some people buy a house, the house has not yet started construction and they cannot obtain a mortgage loan. When buying a house, the bank only approves the loan in advance. The loan can only be issued after the house has obtained a pre-sale permit, and then the loan will be issued next month.

4. It usually takes more than a year from buying a house to paying, depending on whether the construction progress of the house meets the pre-sale conditions.

Home loan repayment methods

House repayment period is more than one year, which can be divided into equal principal repayment and equal principal and interest repayment.

1. Equal principal repayment

It is the amount paid monthly, and the same amount of principal and balance of the month are paid monthly.

Features: Because the monthly repayment amount is fixed and the interest rate will become lower, lenders will have a lot of pressure at first, but as time goes by, every Monthly repayments will also be reduced.

2. Equal principal and interest repayment

During the repayment period, a certain amount of the loan (including principal and interest) is paid monthly.

Features: Compared with the equal principal and interest repayment method, its disadvantage is that the cost is higher. The interest rate paid every month accounts for the majority of the monthly payment. As the principal is gradually returned, the proportion of the principal also changes. of improvement. However, the monthly repayment amount of this method is fixed, which can systematically control the family's income. It also facilitates the family to determine its repayment ability based on its own economic situation.