Since the inauguration of the new administration, the economy is expected to recover through aggressive fiscal stimulus. The increase in public works will also boost the real estate industry, increasing the chances of a recovery in the housing supply. In that case, it can be predicted that land prices, which seem to have bottomed out, will start to rise again, and housing demand will expand before land prices soar. Now, I will explain What is a Mortgage on a Million Dollar Home?
In addition, there is a growing view that the surge in demand before the consumption tax hike will revitalize the real estate market due to the synergistic effect of the economic recovery and that real estate sales will be active.
At the turn of the economy, there are concerns about changes in land prices and interest rates, but in an environment where there are positive factors for home purchases, home loans, and the housing tax system may be of concern.
In recent years, with low-interest rates expected to continue, financial institutions that handle housing loans are diversifying their products, and competition to acquire loans is intensifying.
Many people are beginners when buying a home. Moreover, it is a high-priced item worth tens of millions of yen. Instead of relying on real estate companies and financial planners, you should start by learning the basics of mortgages yourself.
Mortgages are expensive products for sellers’ financial institutions, such as types of mortgages, comparison of interest rate types, how to choose a financial institution, simulation based on own funds, and repayment methods.
Buyers should acquire the knowledge and information to make smart purchases, and learn how to use home loans with less risk and with a sense of convincing.
With regard to the housing tax system, an outline of the tax system reform was announced, which included content to mitigate the impact of the consumption tax hike. The aim is to extend and expand the housing-related tax breaks that expire at the end of 2013, and raise the maximum amount of tax breaks to 5 million yen in 10 years, the largest amount ever, with the aim of leveling out the last-minute demand before the consumption tax hike. This is what I did.
Mortgage interest rates are currently at an all-time low. In addition, various housing acquisition support measures are still prosperous.
The road to home acquisition is information, selection, comparison, learning, and opportunities expanding.
A mortgage is a financial loan for purchasing a house, etc., and is a product of financial institutions. We handle private financial institutions such as city banks, regional banks, trust banks, credit unions, JA/labor banks, and internet banks. In addition, non-banks such as credit companies specializing in real estate collateralized loans, finance companies, mortgage specialty companies, and non-financial institutions such as life insurance companies also handle mortgage products.
The mainstream of private housing loans is from private financial institutions that handle savings, but Japan Post Bank currently does not handle it except for some.
On the other hand, institutions that handle public housing loans include the Japan Housing Loan Corporation, property housing loans, and local government loans.
The Government Housing Loan Corporation, which has been used by many people, has attractive products such as long-term fixed loans and low-interest rates for those who are worried about purchasing funds. However, at the end of fiscal 2006, the Government Housing Loan Corporation abolished direct financing, with some exceptions, and its operations, such as supporting and supplementing loans to private financial institutions, were taken over by the Japan Housing Finance Agency. Specifically, Flat 35, which is a joint mortgage with a private financial institution.
As a result, the types of products themselves are diversifying, such as intensifying competition and campaigns for housing loan products by companies and financial institutions that handle housing loans.
As the number of housing loan companies increases and the types of private housing loans are becoming more complex and diversified, let’s collect information on housing loan companies, products, campaigns, etc., and acquire smart loan selection techniques.
Diversification of housing loans
In recent years, the development of housing loan products by private financial institutions has intensified, and the number of people eligible for housing loans has expanded.
It is good that the frontage spreads and the number of options increases, but in order for users to take advantage of it, why not consider incorporating a housing loan into your life plan?
First of all, regarding income, if both husband and wife work, there are products such as preferential interest rates and free guarantee fees for borrowing together as a couple. In terms of employment, there is also a preferential interest rate plan for spouse income, such as contract employees, temporary employees, and part-time income.
In the family form, there are plans for supporting children under the age of 20, giving preferential interest rates, and exempting principal repayment for a limited time for childbirth, childbirth, and taking childcare leave.
In terms of property details, interest-rate products related to life energy, such as all-electric, gas-saving housing loans, installation of solar power generation equipment, etc., are also attracting attention.
In terms of repayment, it is possible to flexibly respond to each user’s repayment situation, such as the ability to freely switch between fixed and floating interest rates, the deposit balance linked type, and the mortgage loan with an automatic partial early repayment function. Some financial institutions also offer products that are
Others include insurance-related loans and housing loans exclusively for working women.
It is true that the diversification of housing loans, which can be seen in the development of unique Internet-based products, is evolving day by day, going beyond the framework of conventional housing loan products of private financial institutions. I hope, already have done know What is a Mortgage on a Million Dollar Home?