Second-hand housing loans can be converted from business to public, and new housing loans and second-hand housing loans can be converted from business to public. There are some conditions that need to be met to handle the business transfer, and the provident fund loans in many cities are saturated all the year round. In this case, the conversion from business to public cannot be handled.

Provident fund loan conditions

1, with full capacity for civil conduct;

2. Have a fixed residence or valid residence status in the local town, and the income is relatively stable;

3. The housing accumulation fund has been paid continuously and normally for more than 6 months, and its account has paid more than 1 year;

4. No provident fund loan balance and other bad debts;

5. During the period when the borrower fails to repay the loan principal and interest in full, he may not withdraw the housing provident fund or apply for a housing provident fund loan;

6. The age of the housing provident fund guarantor and the term of the secured loan shall not exceed the statutory retirement age.

What's the difference between provident fund loans and commercial loans?

1, the loan interest rate is different.

The benchmark interest rate for commercial loans is 4.9%, and the benchmark interest rate for provident fund loans for more than five years is 3.25%.

2. The loan ratio is different.

For the same house, if the first commercial loan can be 70%, then the first pure provident fund loan can be up to 80%.

3. The loan process is different.

Commercial loans should be reviewed before transfer, and provident fund loans should be reviewed after transfer.

4. The approval time is different.

Commercial loans take about 20 working days, and provident fund loans take about 40 working days. Commercial loans are faster than provident fund loans.

5. The sources of loans are different.

Commercial loans mainly come from public funds raised by commercial banks and other lending institutions, while provident fund housing loans are funds paid by provident fund collectors.

6. Users are different.

Commercial mortgage loans are open to all eligible public, while provident fund loans are only open to provident fund payers.

7. Interest has different uses.

The interest of commercial mortgage is the profit of commercial behavior and belongs to relevant investors, while the interest of provident fund is used according to the policy and can only be used for the construction of affordable housing.