The main difference between provident fund loans and commercial loans for buyers lies in (1) quota (2) loan interest rate (3) process.
(1) Commercial loan: the down payment for the first suite is at least 30%, the down payment for the second suite is at least 60%, and the loan for the third suite is suspended. Provident fund loan: the first suite needs a down payment of 30% (in Beijing, it can be 20% for ordinary houses under 90 square meters), and the second suite needs a down payment of at least 60% (each province has a limit on the amount of provident fund loan, and Beijing varies slightly according to its credit rating, ranging from 8 million 800- 1.04 million). ), the third suite stopped lending. (Mainly refers to residential buildings, commercial and residential buildings are not divided into one set and two sets, and the down payment is at least 50%).
(2) Loan interest rate The current benchmark interest rate for commercial loans is 6.55. Commercial loans can be divided into two repayment methods: average capital and equal principal and interest. To put it simply, matching principal and interest means that the monthly repayment amount remains unchanged, and the average capital is getting less and less every month, but the pressure is great at first. The benchmark interest rate of provident fund loans is: 4.5 The current situation in Beijing is A, and the first suite is basically the benchmark interest rate, but some properties can be given a 9-9.5 discount because of different cooperative banks. B. The interest rate of the second suite is basically 1. 1 times. For example, the first home loan is 800 thousand, 30 years, calculated at the benchmark interest rate. The business needs to repay interest of 1029800 yuan, and the provident fund loan needs to repay interest of 659300 yuan.
(3) Loan Process The process of commercial loan is: both parties sign the sales contract-evaluation-face-to-face signing of the bank-loan approval-transfer-mortgage registration-provident fund loan is: both parties sign the sales contract-evaluation-preliminary examination of the provident fund management center-face-to-face signing-transfer-loan-mortgage registration.