The housing loan guarantee shall be jointly and severally guaranteed by the housing property right guarantee company recognized by the provident fund management center. At the same time, the borrower mortgaged the house to the guarantee company as a counter-guarantee. Housing property guarantee companies provide guarantees for individual housing provident fund loans, which is a reform measure to reduce loan links, improve the quality of loan intermediary services and reduce loan risks.

What are the advantages of provident fund loan guarantee?

1, the procedure is simple. Where the loan guarantee conditions are met, the collateral is implemented and the guarantee requirements are complete, the guarantee center will complete the examination and approval of the guarantee application at the preliminary examination of the loan application.

2, the cost is low. The guarantee does not need to handle property and personal insurance, but only charges a low-cost guarantee fee, reducing procedures and expenses. If the borrower entrusts the guarantee center to register the mortgage, there is no need to pay the mortgage registration fee separately.

3. Full guarantee. During the loan guarantee period, if the borrower does not change the guarantee method, the guarantee center shall bear all the guarantee responsibilities for the borrower to repay the debt.

4. Under special circumstances, the guarantee center shall undertake corresponding repayment obligations.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.