Compared with commercial loans, housing provident fund loans have many advantages, but it should be noted that housing provident fund loans still need to pay corresponding interest, but the interest will be lower than commercial loans.
1. How to calculate the interest on housing provident fund loans?
Housing provident fund loan interest = loan principal * loan term * loan interest rate. The loan amount of housing provident fund does not exceed 70% of the house value, and the loan period can be up to 30 years. The loan interest rate fluctuates according to the benchmark interest rate of the central bank provident fund loan. If it is the first housing provident fund loan, the interest rate does not float. The benchmark interest rate of the central bank's provident fund loan is:
1, less than five years (including five years), and the interest rate is 2.75%.
2. For more than five years, the interest rate is 3.25%.
Second, the housing provident fund loan calculation
The calculation of provident fund loan should be determined according to four conditions: repayment ability, proportion of house price, balance of housing provident fund account and maximum loan amount, among which the minimum value calculated by the four conditions is the maximum loanable amount of the lender.
1. The calculation formula of provident fund loan based on repayment ability is: loan amount = [(total monthly salary of the borrower or husband and wife+monthly deposit of housing provident fund of the unit where the borrower or husband and wife work) × repayment ability coefficient 40%- monthly repayment amount of existing loans of the borrower or husband and wife ]× 12 (month )× loan period. The total monthly salary = the monthly contribution of the provident fund/(unit contribution ratio+individual contribution ratio);
2. The calculation formula of provident fund loan based on house price is: loan amount = house price × loan ratio. Among them, the loan proportion is determined according to different types. Generally speaking, if the building area is more than 90 square meters, the loan amount shall not exceed 70% of the purchase price; If the construction area is less than 90 square meters, the loan amount shall not exceed 80% of the purchase price.
3. According to the maximum loan amount, if I use the housing provident fund to apply for a loan provident fund loan and meet the application conditions, the maximum loan amount is 500,000 yuan; At the same time, if the spouse's housing provident fund is used to apply for a loan and the loan application conditions are met, the maximum loan amount is 700,000 yuan.
4. The calculation formula of the provident fund loan based on the balance of the provident fund account is: the amount of the provident fund loan = the borrower and the borrower's provident fund account balance ×20.
Three, the types of housing provident fund loans
Personal housing provident fund loan: it is a preferential housing provident fund loan used by the housing provident fund management center and entrusted by commercial banks to the depositors of housing provident fund who purchase, build, renovate and overhaul their own houses and raise funds to build cooperative houses.
Personal housing provident fund portfolio loan: refers to that when the amount of housing provident fund loan is insufficient to pay the house purchase price, the borrower applies for housing provident fund loan, and at the same time applies for commercial personal housing loan from the entrusted bank, and the two loans together form a portfolio loan. Housing provident fund loans in portfolio loans are approved by the management center, and commercial loans are approved by the entrusted banks.
The real estate developer signs a cooperation agreement on commercial housing mortgage loan with the management center and the entrusted bank, and the real estate developer provides the borrower with a phased guarantee and deposits a deposit according to a certain proportion of the total loan. After completing the property right certificate and mortgage registration, the guarantee responsibility is terminated and the purchased house is converted into mortgage guarantee. The borrower applies for a loan from the management center. After approval, the entrusted bank signs a loan contract with the borrower and goes through the formalities of using the loan.
Personal housing provident fund replacement portfolio loan: firstly, the bank issues commercial housing loans to borrowers (employees who have paid housing provident fund) with bank funds, and then the entrusted bank applies for provident fund loans to the management center on behalf of the borrowers. The borrower's provident fund loan amount is controlled within its basic provident fund loan amount and does not exceed 70% of the commercial housing loan amount, and its basic provident fund loan period is shorter than the commercial housing loan period by more than 1 year.
According to the law, we can know that the interest rate of housing provident fund loans fluctuates according to the benchmark interest rate of central bank provident fund loans. If it is the first housing provident fund loan, the interest rate will not float.
Legal objectivity:
In view of the problem raised by some buyers that "the balance of provident fund in the provident fund account is zero, so the amount of provident fund loan is zero", the amount of Beijing housing provident fund loan is not calculated according to the balance in the lender's provident fund account. At present, the maximum amount of a single housing provident fund loan is 400,000 yuan; The loan amount can be increased by 30% to 520 thousand yuan for loan applicants whose credit rating is AAA in the personal credit evaluation report; The AA category can increase by 15% and reach 460,000. The calculation formula of the maximum loanable amount of the housing accumulation fund of this city is: the remaining amount after deducting the monthly living expenses of at least 400 yuan from the monthly income of the borrower's family (monthly income = the monthly contribution amount of the employee's individual housing accumulation fund ÷ the contribution ratio of the employee's housing accumulation fund), and then dividing it by the monthly repayment amount per 10,000 yuan during the loan application period, which is the maximum loanable amount. At the same time, the specific loan amount and term must meet the requirements of single maximum loan amount, maximum loanable amount and minimum down payment. For example, if you apply for a housing provident fund loan, the individual will pay the housing provident fund in 200 yuan every month, with a deposit ratio of 8%, and the spouse will pay the housing provident fund every month with a deposit ratio of 8%. The loan application period is 10 year, and the purchased house is affordable, with a total house price of 400,000 yuan, so you can borrow at most 330,000 yuan. In addition, the current provident fund loan contract stipulates that early repayment is actually a unilateral breach of contract, so the defaulting party should bear the liability for breach of contract in accordance with the contract, such as paying liquidated damages. However, at present, there is no such provision in the provident fund loan contract, but it is agreed to repay in advance. The specific provision is that after you pay off the principal and interest of the current month, you can repay part or all of the loan in advance. Interest is not charged on part or all of the loan principal repaid in advance after repayment. If the loan is not paid off in full in advance, the prepayment amount of some loans must be an integer multiple of 10000 yuan, at least 10000 yuan. For the remaining loan amount, you can choose to recalculate the monthly repayment amount without changing the loan term, or shorten the loan term appropriately without changing the monthly repayment amount. It is understood that the purchase of owner-occupied housing, you can withdraw the provident fund, but the cumulative withdrawal amount can not be greater than the total purchase price. If you buy a house with a loan, you can also withdraw the provident fund quarterly or annually after buying a house. But one thing to remind you is that when you withdraw the provident fund, you must keep at least one month's deposit in your provident fund account.