In the case of insufficient housing reserve funds, buyers can purchase houses by means of a combination loan. A portfolio loan is actually a combination of commercial loans and provident fund loans. Then, if you are dealing with a portfolio loan, what are the points to pay attention to? Today, Xiaobian will introduce it to you.
1. Use the provident fund loan as much as possible.
After the central bank cut interest rate on May 11, the interest rate advantage of the provident fund loan is more obvious, that is, the annual interest rate is 3.25% under 5 years (inclusive) and 3.75% at 5 years. Therefore, the borrower should use the maximum amount of the provident fund loan and extend the loan period, so that the monthly repayment amount of the provident fund loan can be reduced.
2. Try to shorten the term of commercial loan
Since the commercial loan interest rate is higher than the provident fund loan interest rate, the borrower should try to shorten the term of the commercial loan when handling the combined loan, and try to increase the monthly repayment of the commercial loan if the repayment ability permits. amount.
3. Advance repayment should give priority to repaying commercial loans.
Buyers who use a combination loan to buy a house should give priority to repaying commercial loans in advance if they want to repay the loan in advance. This will save a lot of interest on mortgage loans.
Through the introduction of Xiaobian, I believe that everyone has a certain understanding of the considerations for handling portfolio loans. I hope that the introduction of Xiaobian can bring some help to everyone.