After the commercial loan, you are the head of the household, so you can withdraw the provident fund for monthly repayment.
Now the interest rate of provident fund is different in every place, so you need to consult the local provident fund management center.
It is more troublesome to transfer commercial loans to provident fund, so you must apply at the beginning.
Housing provident fund is the source of funds for granting employee housing mortgage loans. Workers who have paid the housing provident fund in full and on time for more than one year and are not in arrears can apply for policy housing loans when purchasing housing approved by the housing provident fund management center.
1. What are the conditions for applying for employee housing mortgage loans?
1, has a proper occupation and stable economic income, has the ability and willingness to repay the loan principal and interest on time, and has a good credit status;
2. There is a registered, legal and effective commercial housing sales contract;
3. Self-raised funds not less than 30% of the total purchase price;
4. Agree to use the purchased house as collateral;
5. Agree to handle comprehensive loan insurance;
6. The guarantor (selling unit) agrees to guarantee until he obtains the house ownership certificate, and submits it to the loan bank and provident fund center for safekeeping after handling the mortgage registration of other rights of the house;
7 other conditions stipulated by the provident fund management center.
2. What is the application procedure for employee housing mortgage loan?
Step 1: Employees who are willing to buy houses should pay the housing accumulation fund, and ask the selling unit (developer or fund-raising institution) about the purchased houses. If the project is a housing provident fund loan project approved by the housing provident fund management center, they can apply for a housing provident fund loan from the selling unit.
Step 2: The borrower prepares the following information and submits it to the sales unit, and the sales unit verifies whether it is the depositor of the housing provident fund:
(1) Identity cards, household registration or other valid residence certificates of the borrower, co-owners of property rights (including spouses) and loan participants;
(2) A legal and effective commercial housing sales contract;
(3) Self-raised funds not less than 30% of the total purchase price have been paid;
(four) proof of income of the borrower and spouse;
(five) proof of marital status (including single certificate);
(six) written opinions of the co-owners of property rights (including spouses) to agree to mortgage;
(seven) other information required by the provident fund management center.
Step 3: Sign a loan contract and apply for individual housing loan insurance at the place notified by the handling personnel, and the bank undertaking housing provident fund loan business will conduct loan review.
Step 4: Apply for mortgage registration of individual housing loan.
Step 5: The Housing Provident Fund Management Center will notify the undertaking bank to lend money after the final review of all loan information.
3. How long is the term of employee housing mortgage loan?
The term of employee housing mortgage loan is: the longest loan term shall not exceed 20 years (in some places, it shall not exceed 30 years), and the longest loan term plus the borrower's age shall not exceed the statutory retirement age.
4. What is the amount of employee housing mortgage loan?
Determine the actual loan amount according to the loanable amount and the maximum amount.
The maximum loan amount is announced by the housing provident fund management center at the beginning of each year, and the loan amount shall not exceed 70% of the total cost of house purchase.
Loan amount = (sum of monthly salary base of housing accumulation fund of the borrower and his family members in the current month) *30%* 12 (month) * loan period (year)
5. What is the annual interest rate of employee housing mortgage loan?
Within 5 years (including 5 years): 4.50%; More than 5 years: 4.95%.
The interest rate of policy mortgage is adjusted with the adjustment of the interest rate of the People's Bank of China.
6. How do employees repay their housing mortgage loans?
1. The loan principal and interest shall be repaid by monthly matching principal and interest method or monthly average capital method.
Monthly equal principal and interest method
Monthly interest rate ×( 1+ monthly interest rate) Loan term (month)
Monthly debt service amount = loan amount ×
(1+ monthly interest rate) loan term (month)-1
In which: monthly interest repayment = loan balance × monthly interest rate.
Monthly repayment of principal = monthly repayment of principal and interest-monthly repayment of interest
(2) monthly average capital method
Monthly repayment of principal and interest = monthly repayment of principal+monthly repayment of interest.
In which: monthly repayment of principal = loan amount ÷ loan period (month)
Monthly repayment interest = loan balance × monthly interest rate
2. The borrower shall deposit the repayment funds in full into the personal repayment account on time from the next month after the loan is issued (if it is withheld by the unit, it will be deducted from the personal salary every month). If the repayment cannot be made in time in the current month, the funds deposited in the next month include penalty interest in addition to the normal monthly repayment.
3. In case of overdue or early repayment on a monthly basis, interest shall be charged according to the actual loan balance.
4. After the loan is paid off, you should go to the contractor bank and the housing provident fund management center to apply for the loan payment certificate, and then go to the real estate exchange to cancel the mortgage. If you repay in advance, you can also use this certificate to surrender to the insurance company according to the actual loan period.