1 The developer does not accept provident fund loans.
Due to the long mortgage period of provident fund loans, developers are slow to withdraw funds and bear greater risks, so some developers do not accept provident fund loans. If this happens, buyers can only choose commercial loans.
2. The loan amount is limited.
Not that employees can borrow as much as they want, but there is a higher limit. However, if the personal loan amount is insufficient, the husband and wife can jointly apply for provident fund loans, so the loan amount will be higher.
3 provident fund deposit requirements
In addition to the high ceiling, to apply for provident fund loans, it is necessary to meet a certain deposit time. For example, the borrower has continuously paid the provident fund for more than 6 months, and the provident fund account is in a state of deposit, just like Beijing, Shanghai, Guangzhou and other places. However, there are also some cities that need to continuously deposit 12 months or more to get loans, just like Tianjin and Changsha.
4. The account balance has restrictions on the loan amount.
If the account balance is too small, the loan amount you can apply for will be lower, so it is best not to touch the balance of the provident fund account before applying for a provident fund loan.
5 Long loan period
Compared with commercial loans, the procedures of provident fund loans are complicated, and the mortgage cycle is long, ranging from one month to two months or even longer. Therefore, if you are in a hurry to buy a house, don't choose a provident fund loan.
There are restrictions on applying for provident fund loans in different places.
Although the off-site provident fund loan has been opened now, there are still many problems in actual operation. If you want to go back to your hometown to buy a house, you'd better know whether the provident fund can be loaned in different places.
Although the provident fund loan to buy a house has many advantages, it also has the above six disadvantages. Therefore, before using provident fund loans to buy a house, it is best for buyers to consult the local provident fund management center to understand the restrictions, and then decide whether to use provident fund loans according to their actual situation.