1. First of all, according to the Implementation Measures for Individual Housing Provident Fund Loans, the borrower applying for such loans must meet the following conditions: the borrower is an individual who normally pays the housing provident fund in the "provident fund center"; The borrower purchases affordable housing recognized by the lender; Have permanent residence in cities and towns or valid residence status; Have a stable occupation and income, and have the ability to repay the loan principal and interest; There is a contract for the purchase of housing or relevant supporting documents; The borrower agrees to mortgage the property listed in the house sales contract signed with the developer to the lender, giving the lender the priority of mortgage and compensation as a guarantee for repayment of principal and interest; The borrower has the ability to pay not less than 30% of the funds needed for house purchase; Other conditions stipulated by the lender. 2. After meeting these conditions, you can apply for a loan from the bank with your ID card, the purchase contract signed by the real estate company, the monthly income certificate (salary table) and the provident fund deposit certificate issued by the provident fund center. Generally speaking, in order to ensure the safety of funds, banks should conduct certain audits on the credit and economic strength of borrowers. The interest rate of this kind of loan is lower than that of commercial loan. Within five years (including five years), the monthly interest rate is 3.45‰ and the annual interest rate is 4.14%; The monthly interest rate for more than 5 years is 3.825‰, and the annual interest rate is 59%. According to the state regulations, the maximum amount of provident fund loans cannot exceed twice the amount of housing provident fund paid by borrowers within their retirement age. 4. The state stipulates that the loan period is one to ten years, but not more than twenty years at most. Banks generally require borrowers to repay interest first and then principal. Generally speaking, banks have three ways to determine how much loans to give to borrowers and the loan period. 1. The loan amount is determined by 10 times the balance of housing accumulation fund paid by the borrower. 2. 40% of the borrower's total salary is used as the loan amount that can be applied. 3. According to the borrower's monthly repayment ability and the bank's monthly loan interest rate of 3.825‰, the approximate repayment period can be calculated by substituting the corresponding formula. In addition, the bank will "repay the loan" to the provident fund in March each year, and the reduction amount will not exceed 12 times of the monthly repayment amount of that year. In other words, the provident fund you pay can not only apply for a loan with a lower interest rate, but also help you repay part of the loan amount. After all this is clear, we will enter the final stage of housing provident fund loan to buy a house: deposit 30% of the down payment into the account opened by the real estate company in your loan bank; Apply for a savings card at your loan bank so that the bank can deduct the loan amount from the card every month in the future; Sign a loan contract. At the same time, we must mortgage the house, buy insurance and finally notarize it. These things are handled by the bank and the expenses are borne by the borrower.
Legal objectivity:
Regulations on the administration of housing provident fund
Article 26
Workers who have paid housing provident fund may apply for housing provident fund loans from the housing provident fund management center when purchasing, constructing, renovating or overhauling their own houses.
The housing provident fund management center shall, within 05 days from the date of accepting the application, make a decision on whether to grant the loan or not, and notify the applicant;
If the loan is granted, the entrusted bank shall handle the loan formalities.
The risk of housing provident fund loans shall be borne by the housing provident fund management center.