Housing provident fund cannot be used to pay down payment. Housing provident fund loan process: the lender needs to submit a written application to the bank to apply for housing provident fund loans; For the loan application with complete information, the bank accepts the examination in time and submits it to the provident fund center in time; The provident fund center is responsible for approving loans and informing banks of the approval results in a timely manner.

Legal objectivity:

Regulations on the administration of housing provident fund

Article 26

Workers who have paid housing provident fund can apply for housing provident fund loans to the housing provident fund management center when purchasing, building, renovating or overhauling their own houses. The housing provident fund management center shall make a decision on whether to grant loans within 15 days from the date of accepting the application, and notify the applicant;

Where a loan is granted, the entrusted bank shall go through the loan formalities. The risk of housing provident fund loans shall be borne by the housing provident fund management center.

Regulations on the administration of housing provident fund

Article 5

The housing accumulation fund shall be used for the purchase, construction, renovation and overhaul of owner-occupied housing by employees, and no unit or individual may use it for other purposes.