Generally speaking, when applying for a provident fund loan, you can only use your own provident fund, but after you get married, you can use the provident fund of both spouses. If both husband and wife have provident funds, the loan amount will be higher. Provident fund loans calculate the loan amount based on the employee's provident fund balance, which is relatively stricter than commercial loans.

What are the requirements for applying for a provident fund loan

1. The borrower can provide valid proof of residence.

2. Have a stable job in the local area, a reliable source of income, and be able to repay the loan on time.

3. The provident fund must have been paid continuously for at least 6 months before the loan, and the deposit period of the provident fund cannot be less than 12 months.

4. The borrower has an excellent credit report, and the borrower and his spouse have no outstanding provident fund loans.

5. Agree to use the purchased house as a mortgage for a guarantor recognized by an active guarantee agency.

6. Meet other conditions stipulated by the lending bank.

What is the provident fund loan process?

1. When the borrower applies for a provident fund loan at the management department of the provident fund management center where he or she has deposited the provident fund, and chooses the guarantee center to provide guarantee, the borrower should submit documents including: All materials required for personal loan application, including the materials required for guarantee application, including personal and spouse’s ID cards, household registers, marriage certificates, divorce certificates, proof of down payment for house purchase, house purchase contract, housing provident fund deposit certificate, etc.

2. After the management department passes the preliminary review of the loan application, it will issue a "Guarantee Application Review Notice", print out the "Loan Contract", "Mortgage (Counter Guarantee) Contract" and other relevant legal documents, and transfer all individual loan Submit the information to the Guarantee Center.

3. The Guarantee Center will review the guarantee application. If the borrower meets the guarantee conditions, the Guarantee Center will issue a "Guarantee Application Approval Letter"; if the borrower entrusts an intermediary agency to handle the provident fund loan, the guarantee application procedures will be handled by the agency. The agency is responsible for acting as an agent and collecting guarantee service fees. (Note: The agency agency must have the qualification certification of the Beijing Housing Provident Fund Management Center and sign a cooperation agreement with the guarantee center)

4. The borrower pays the guarantee based on the approved "Guarantee Application Approval Opinion" Service fee. The Guarantee Center issues invoices for guarantee service fees, and stamps the official seal of the Guarantee Center on approved legal documents such as the Loan Contract, Mortgage (Counter Guarantee) Contract, and Collection Contract.

5. The reviewed personal loan application materials (including the stamped contract) will be forwarded by the Guarantee Center to the Housing Provident Fund Management Department; if an intermediary is entrusted to handle the application, the intermediary will be responsible for the transmission of the above information.