Zero down payment seems to be beneficial in the immediate future, but it is harmful in the long run. On the surface, zero down payment lowers the threshold of buying a house, reduces the pressure of capital turnover of buyers, and enables those who do not have the conditions to buy a house to realize their dream of buying a house.
But in fact, it did not really reduce the cost of buying a house. On the contrary, the monthly loan amount is increased by raising the total contract price of the house, which increases the repayment burden of the buyers. Through marketing tactics, zero down payment not only achieved the goal of "wool is on sheep", but also transferred the debt risk to buyers.
0 down payment risk of buying a house
1, the bank strictly forbids 0 down payment to buy a house. According to Article 2 of the Notice of the People's Bank of China on Regulating Housing Finance Business, the management of individual housing loans is strengthened, and it is forbidden to issue "zero down payment" individual housing loans. The People's Bank of China reiterated that commercial banks should strictly assess the actual value of the collateral and go through the mortgage registration procedures when issuing personal housing mortgage loans.
The ratio of the loan amount to the actual value of the collateral (loan-to-deposit ratio) shall not exceed 80%, and it is strictly forbidden to issue "zero down payment" personal housing loans to borrowers. Many people don't know this rule, so when you sign a 0 down payment contract with a third-party company, you may not get a loan from the bank.
Not only can you not apply for a down payment loan, but you can't buy a house through a loan, because the bank will strictly check the source of the down payment and will not give you a loan if you see a down payment of 0.
2. Increase the monthly payment burden. Buying a house with a down payment is generally a person with temporarily poor economic conditions or a young person without savings. Because the source of 0 down payment is a third-party loan with interest, and it is required to pay off the down payment within a period of time, the monthly payment for several years after buying a house is relatively high, which is a great test for the financial pressure of buyers.
And even if you are lucky enough to get a bank loan, if the follow-up bank re-examines the situation of 0 down payment, it is possible to recover the loan in advance. Once the mortgage pressure increases, it will affect the quality of life and may collapse because of insufficient repayment ability.