Fuzhou raises down payment to 30% for 1st-time homebuyers

Updated: 21 Mar 2010
Share this news?...Click box   Bookmark and Share
Read more on down payment   homebuyer   Fujian  
Most banks in Fuzhou have raised the minimum down payment requirement for first-time homebuyers from 20 percent to 30 percent.
 
Those banks that still allow a 20 percent down payment have tightened their housing loan requirements -- only people who have a solid credit history and are purchasing a home less than 10 years old are allowed a 20 percent down payment. 
 
 
Editorial Message  
This site contains materials from other clearly stated media sources for the purpose of discussion stimulation and content enrichment among our members only.
whatsonxiamen.com does not necessarily endorse their views or the accuracy of their content. For copyright infringement issues please contact editor@whatsonxiamen.com
Share this news?...Click box   Bookmark and Share
Comments Area ( Total Comments: 1 )
xinwenman Commented on 21 Mar 2010
Not alot of young people would have cash to put a down payment for 20% already and now push to 30%. Though the intention is to put a break on the speculators for quick money, however it has caused stress to genuine homeowners who only need a roof over their heads. Looks like one would expect prices to drop until it reaches to an affordable level. What would be the waiting period?
  
Meet Xiamen locals and Internationals at WOX