In the past half year, interest rates have gradually stabilized, and the property market has also experienced a significant correction period. In addition, the government has relaxed the mortgage ratio to 70%, and the threshold for first-time buyers is indeed higher than a few years ago when the property market was at a historical high. dropped. Since first-time buyers are required to purchase mortgage insurance when applying for a high-percentage mortgage, the related premiums have always been an important part of calculating expenses when buying a property. Have readers noticed in the premium table that even if the mortgage-to-percentage ratio applied for is higher than 70%, The charging percentage is 0%? Does this mean no premium is required?
The government has relaxed the mortgage ratio limit to 70%, provided that the buyer must be a first-time home buyer and the property must be used for self-occupation. According to the current mechanism, if a buyer obtains a high-percentage mortgage, that is, the portion of the mortgage that exceeds 70%, for example, an 80% mortgage, 10% will exceed the government's mortgage-percentage limit. For this 10% mortgage, the buyer will need Purchase mortgage insurance.
First home buyers can benefit
However, looking at the HKMC premium table, there are many insurance premium percentages that are "0", which means the buyer does not have to pay. In other words, the buyer buys mortgage insurance but does not have to pay, which is equivalent to the mortgage insurance company "gifting" insurance. The reason is that when the government announced the relaxation of mortgage ratios, mortgage insurance companies launched premium discounts for first-time homebuyers. As long as the mortgage ratio is between 70% and 75%, that is, 70% to 75%, there is a "high chance" that the relevant insurance will be "free."
According to the HKMC premium table information, if a first-time homebuyer purchases a property with a property price of NT$15 million or less and does not have any other mortgage, regardless of whether he uses a floating-rate mortgage or a fixed-rate mortgage, if he applies for a mortgage loan ratio of 75% or below, the premium will be zero. . If a first-time homebuyer purchases a property with a property price of NT$15 million or less and has other mortgages, such as a parking space mortgage, the maximum mortgage ratio will be reduced by 10%, which means that the maximum mortgage ratio can only be 60%. As for mortgage insurance fees, they will be reduced to 60% to 65% of new mortgages, but there is no need to pay premiums. If the buyer is not a first-time homebuyer, has no other mortgage, and purchases a property below NT$15 million, he or she will not be able to enjoy the first 5% mortgage premium exemption. For more than 70% of the excess mortgage percentage, premiums must be paid; for 70% to 75% of the mortgage insurance fee, it is 0.15% of the loan amount.
And if the buyer is not a first-time homebuyer and still has other mortgages, such as a property mortgage, if he purchases a property below NT$15 million, he will have to pay premiums for any mortgage that exceeds 60% of the mortgage range. How to calculate the purchase price of properties exceeding NT$15 million? If the property price exceeds 15 million yuan, the mortgage insurance company does not provide relevant discounts for first-time buyers. If the mortgage ratio exceeds the range of 60% or more, premiums must be paid. For example, if a buyer applies for a 70% mortgage, which exceeds the 10% mortgage ratio, the premium is 0.3% of the loan amount; if the buyer has other mortgages, the mortgage ratio will also drop by 10%, which means the mortgage ratio exceeds the 50% mortgage ratio. You need to pay a premium for each loan, which is also 0.3% of the loan amount.