Process of transferring commercial loans to provident fund loans
First, you need to apply to a commercial loan bank. Then get the "personal housing announcement fund lending folder", fill it out and submit it to the commercial loan bank. The following materials shall also be submitted at the same time: the identity certificate of the lender, the original and photocopy of the household registration book; Original and photocopy of marital status certificate; Original and photocopy of real estate license and state-owned land use certificate; The original "Housing Mortgage Loan Contract" for commercial loans and the purchase contract; A housing appraisal report issued by a housing appraisal institution recognized by the provident fund management center; All property owners issue notarized written documents agreeing to mortgage; Materials required by other provident fund management centers and banks.
Secondly, after submitting the materials, the bank will inquire about the personal credit report of the borrower and spouse. If it meets the requirements, the bank will conduct a preliminary examination in the provident fund system; After the first trial is passed, according to the requirements of the business of transferring to the public, the bank needs to inform the sub-lender to go through the guarantee formalities with the guarantee company with relevant materials, including at least the personal and spouse identity documents, household registration books, two sets of housing certificates and the loan approval information confirmation form issued by the bank.
Third, this step is to sign a contract. After obtaining the letter of guarantee from the guarantee company, the business-to-public applicant signs a loan contract and a mortgage contract with the provident fund management center, and the commercial loan exceeding the upper limit of the provident fund loan needs to be supplemented with its own funds.
Finally, after the provident fund management center lends money, the guarantee company will help you lift the mortgage procedures of commercial loans and transfer them to the mortgage registration of provident fund loans.
In terms of the maximum loan amount, the maximum loan amount for employees who pay the housing provident fund unilaterally is 300,000, and the maximum loan amount for employees who pay jointly by husband and wife is 400,000. The maximum loan amount cannot exceed the remaining commercial loan amount. The specific loan amount needs to be calculated by the housing provident fund management institution.
In principle, the term of commercial corporate loans shall not exceed the remaining term after the lender's statutory retirement. In order to effectively solve the difficulties of employees in buying houses and the pressure of repayment, the housing provident fund has been introduced, which can be extended by 1 to 5 years on the basis of the statutory retirement period according to the wishes of employees, but the longest is not more than 30 years (the longest is not more than 20 years for second-hand houses).
Converting a commercial loan into a provident fund loan usually refers to a corporate commercial loan, which means that the lender pays off the commercial mortgage in advance and then applies to the provident fund center to repay the remaining loan at the interest rate of the provident fund loan. Of course, the premise is that the borrower has paid the housing provident fund for one year.
Commercial loans are slightly different from bank loans to provident fund loans. The general situation is as follows:
1. The housing loan of a commercial bank must be repaid normally for more than 1 year, and the record of no overdue repayment provided by the original lending bank shall be issued;
2. The property applying for public transfer of business to the public must have handled the house ownership certificate, and there is no other legal dispute about the property;
3. The distributor must obtain the consent of the original commercial loan bank before transferring it to the public;
4. If the marital status of the lender's applicant changes at the time of transfer, relevant certificates and legal property ownership certificates shall be provided.
Summary: When transferring commercial loans to provident fund loans, the remaining repayment period of commercial loans should be considered. It is more cost-effective to convert commercial loans into provident fund loans at the initial stage of repayment; If it is already in the middle and late stage of repayment, the interest has already been paid almost, and it is not recommended to transfer it. If you are prepared to pay off all the loans in advance in the last two or three years, you don't have to consider handling business transfer. Because there are certain expenses in the process of transferring business to the public, it is not necessarily cost-effective, so it is not recommended to transfer loans to the public in the above two cases.