How much is the down payment for Toronto housing loan?

The number of mortgage sets, actual mortgage interest rate, mortgage ratio and mortgage period of the first-hand house shall be subject to the approval of the bank; (Under normal circumstances: the first home loan, the down payment of ordinary housing is not less than 30%, and the benchmark interest rate is implemented; The down payment for the second home loan is not less than 60%, and the benchmark interest rate is raised by10%; Three suites are not allowed.

At present, there is a big difference between buying a new house and buying a second-hand house in the calculation of loan down payment. When handling a new house loan, the down payment shall be based on the market price at the time of purchase, and the loan proportion shall be determined according to the number of personal loans and the credibility of personal loans.

Different from the new housing loan, the second-hand housing loan is based on the "second-hand housing evaluation price" as a reference. The so-called appraisal price is based on the market situation at that time, and the professional appraisal institution designated by the bank evaluates and calculates the value of the property.

Generally, the evaluation price of second-hand houses is lower than the market price. Appraisal prices are mostly 80%-90% of the market value of second-hand houses, and some houses will be lower.