Now we're gonna talk about mortgages. This is a well-known concept, often in financial transactions or in loan operations, where we use our property as a guarantee to ensure that debts are repaid on time. A related question is whether we can use mortgages to purchase property

A mortgage can buy a house

The answer is no. Mortgages fall within the category of consumer loans and are usually subject to certain capital requirements, such as the monitoring of financial flows by banks. If a client wants to buy a house but lacks funds, they can choose to apply for a personal mortgage. Such loans do involve mortgages on real estate, but the loans received are used directly for house purchase costs。

So, are there any doubts about the duration of the mortgage

Housing mortgages can last up to 30 years, but this is influenced by the age of the house and the age of the borrower. The total age of the borrower and the age of the house cannot exceed 65 years. In addition, if the borrower is older, the duration of the loan may be reduced relatively. In addition, the nature of the house may affect the duration of the loan. In general, a maximum of 30 years is spent on home mortgages. In the case of housing of another nature, the duration of the loan may be reduced accordingly, usually for 20 years, 10 years or even 5 years。