Finance & Money · 首付比例 · Updated 2026-10-25
What Is Down Payment Ratio?
Definition
Minimum down payments in China are 15% (first home) and 25% (second) after the 2024 easing. Higher down payments cut interest but drain liquidity — keep an emergency fund first.
Formula
Loan = price × (1 − down %); down payment = price × ratio + taxes/fees
Worked Example
On a 3M home at 3.0%: 15% down means 10,751/month and 1.32M interest; 30% down means 8,854/month and 1.087M interest.
Common Misconception
"The lower the down payment, the more you lose" - not necessarily. If your investments beat the mortgage rate long-term (easy at housing-fund 2.6%), paying less up front is better; the decision is an opportunity-cost comparison.
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