Loan conditions for renovation of provident fund:
1. The lender must have a permanent residence in this city or a valid residence status;
2. Pay the housing provident fund 12 months in advance and in full from the date of application (only one spouse is allowed to pay the provident fund by loan);
3. The lender needs to have a contract (agreement), owner-occupied housing overhaul contract (agreement) and related materials;
4. Lenders need to have a certain proportion of self-raised funds. For the purchase of commercial housing and affordable housing, the self-raised funds shall not be less than 20% of the total house price (for the purchase of second-hand houses, houses and overhauled houses, the self-raised funds shall not be less than 30% of the total house price);
5. A monthly income certificate issued by a unit with stable economic income and the ability to repay the principal and interest of the loan);
6. Agree to use the purchased house or the house with complete property rights or the house of a third party as collateral, or use the securities recognized by the loan bank, the bank time deposit certificate, or the legal person, organization or third party recognized by the loan bank as pledge.
The benefits of provident fund loans are as follows:
1. Provident fund loan interest rate is low, saving money.
2. Provident fund loans, with flexible repayment methods, can be repaid in advance.
3. With provident fund loans, the loan ratio is high and the down payment pressure is small.
4. With provident fund loans, the loan period is relatively long, and the monthly repayment amount of the lender is relatively small.
5, provident fund loans, loan interest rate concessions are higher.