Reported 8 months ago
Xin Qing'an mortgages have become a popular choice for first-time buyers, especially with the 5-year grace period and 40-year mortgage as a short-term payment method. A trial calculation for a 40-year Xin Qing'an mortgage of 10 million yuan shows interest payments reaching 5.5 million yuan, totaling 15.5 million yuan to repay. While attractive monthly payments are possible with a 40-year term, delaying principal repayment increases interest significantly. It's advised to carefully consider the most suitable mortgage option and prepare for economic uncertainties.
Source: YAHOO