1. Property
Commercial loan: it can be used to buy a house and do business.
Provident fund loan: it can be used to purchase commercial housing, existing commercial housing, self-occupied commercial housing, affordable housing, two-limited housing, housing reform housing, fund-raising housing and second-hand housing. Among them, affordable housing, limited housing, housing reform housing and fund-raising housing belong to policy housing.
2. Loan amount (taking Beijing as an example)
Commercial loan: 35% down payment for the first suite and 65% loan.
Provident fund loans: At present, the minimum down payment ratio of personal housing provident fund loans for the first and second suites is 20%, the maximum amount of the first home loan is 1.2 million yuan, and the maximum amount of the second home loan is 800,000 yuan.
3. Loan interest rate (taking Beijing as an example)
Commercial loan: the benchmark interest rate is 4.9%.
Provident fund loan: At present, the personal loan interest rate of housing provident fund 1-5 years is 2.75%; The loan interest rate for 6-25 years is 3.25%. The loan interest rate of the second house is 1. 1 times that of the first house.
4. Loan eligibility (taking Beijing as an example)
Commercial loan: open to all eligible members of the public (with legally stable income and valid identification).
Provident fund loans: employees who have paid housing provident fund in Beijing can apply for housing provident fund personal loans if they buy their own houses in Beijing and meet the conditions for payment, and neither husband nor wife has outstanding housing provident fund personal loans or housing provident fund policy-subsidized loans. Among them, the deposit of housing provident fund must meet one of the following three conditions:
(1) If you purchase policy-oriented housing, you should set up a housing accumulation fund account 12 months or more (inclusive), and deposit it in full for 6 months before applying for a loan, and it is in the state of deposit when applying for a loan (see question 5 for the definition of policy-oriented housing).
(2) If you purchase non-policy housing, you should set up a housing accumulation fund account for more than 12 months (inclusive), and deposit it in full for 12 months before applying for a loan, and it is in the state of deposit when applying for a loan.
(3) Retired employees who have paid housing provident fund in the management center during their work can also apply for provident fund loans.
5. Term of loan (taking Beijing as an example)
Commercial loan: The total term of the loan shall not exceed 30 years.
Provident fund loan: the term of individual loan is 1-25 years, and the longest loan can be counted as 70 years old (combined loan can be counted as 65 years old), and the longest loan can not exceed 25 years. When both husband and wife apply for individual housing provident fund loans, the age of both husband and wife should be taken into account when calculating the loan term, and the older one shall prevail. If the house purchased by the loan is a second-hand house, it should also meet the requirement that the remaining service life of the collateral is 3 years longer than the longest loan life.
From the above five differences, commercial loans have the advantages of wide application scope, high cost, long loan life and low threshold, while provident fund loans have the characteristics of low loan interest rate, strict examination, low amount and short loan life.