Is it reliable?, CCTV Survey: Scope of "Low Down Payment" House Buying | Advertising | Down Payment
Recently, on the Internet, some house sales advertisements with "low down payment" as a gimmick have been widely spread. What is buying a house with a low down payment?
Chongqing: Some real estate projects have poor sales and launch "low down payment" to attract homebuyers
In a new commercial housing project in Banan District, Chongqing, the reporter saw that about 36% of the two buildings on sale have been sold, and the developer has launched a discount promotion.
For a three bedroom apartment, the registered price is approximately 1.15 million yuan, which is approximately 1.04 million yuan after discount. According to the purchase policy, the down payment for this house is approximately 208000 yuan, and the loan principal is 832000 yuan. In order to attract customers, real estate agents recommend the "low down payment" method of purchasing a house.
Chongqing Nan'an District Real Estate Broker: You can borrow according to the recorded price, for example, if you can borrow 80% of 1.15 million yuan, you can borrow over 900000 yuan. The excess loan is equivalent to paying you a down payment.
This operating method is precisely the previously controversial "low down payment" model. Taking the house mentioned earlier as an example, using 1.15 million yuan as the benchmark price to apply for a loan is about 88000 yuan more than applying for a loan from a bank with 1.04 million yuan. The intermediary said that the extra 88000 yuan can be fully returned to the buyer for the down payment, which is equivalent to a decrease in the down payment ratio.
In another new housing project, the reporter was also asked if it was necessary to apply for a "low down payment". The intermediary stated that this "low down payment" purchase of a house is mainly for some companies with poor sales, eager to liquidate or collect payments, but for some companies with relatively good sales, they must strictly follow the purchase policy.
Expert: "Low down payment" actually means "high evaluation and high loan" to embezzle credit funds
How is buying a house with a "low down payment" like this, and even some intermediaries claiming a "negative down payment" for buying a house, handled, and is there any risk involved?
The reporter learned from a real estate agency in Chongqing that the information required to apply for a "low down payment" is not significantly different from that of a normal home purchase. Homebuyers need to pay the down payment in accordance with the national policy of 20% first. After the bank loans, the developer will return it to the homebuyer through a transfer method.
In the interview, the intermediary also emphasized that the operation of "low down payment" must be carried out through them.
It is understood that this "low down payment" operation method has only begun to appear in the local area since the beginning of this year.
Experts say that the operation of "low down payment" essentially involves artificially raising the evaluation value of houses to obtain credit funds. For homebuyers, it may not necessarily be advantageous. Although the down payment has decreased, the costs of monthly payments, taxes, and other aspects have actually increased. Taking the previous house as an example, although a down payment of 88000 yuan can be reduced, if a "low down payment" loan is used for 30 years, an additional principal and interest of 153100 yuan will need to be repaid.
Cai Zhen, associate researcher of the Institute of Finance of the Chinese Academy of Social Sciences: for banks, for example, the actual value of a house is 1 million yuan, and developers and buyers evaluate it as 1.2 million yuan. Assuming that the loan ratio is 80%, the loan is 960000 yuan. Then once house prices go down, banks are at risk of insufficient collateral. If banks then transmit to the financial markets, it will bring a series of risks.
