Housing provident fund loan
Housing provident fund loan is a mortgage loan that local housing provident fund management centers use the housing provident fund paid by employees who apply for provident fund loans, and entrust commercial banks to pay housing provident fund depositors who buy, build, renovate or overhaul their own houses and retired employees who pay housing provident fund during their employment.
The advantage of housing provident fund loan is low interest rate and the disadvantage is complicated process, but it is the best choice for ordinary working class to buy second-hand houses.
Application conditions
1. Only employees who participate in the housing provident fund system are eligible to apply for housing provident fund loans, and employees who do not participate in the housing provident fund system cannot apply for housing provident fund loans.
2. Those who participate in the housing provident fund system must apply for individual housing provident fund loans, and they must also meet the following conditions: that is, the time for continuous deposit of housing provident fund before applying for loans is not less than six months. Because, if the employee's behavior of paying housing provident fund is abnormal and intermittent, it indicates that his income is unstable and he is prone to risks after issuing loans.
3. One spouse has applied for a housing provident fund loan, and neither spouse can get a housing provident fund loan until the principal and interest of the loan are paid off. Because the housing provident fund loan is a kind of "housing security" financial support to meet the basic housing needs of workers' families.
4. When applying for a housing provident fund loan, the loan applicant must have a relatively stable economic income and the ability to repay the loan, and there are no other outstanding debts that may affect the repayment ability of the housing provident fund loan. When employees have other debts, it is very risky to give housing provident fund loans, which violates the principle of safe operation of housing provident fund.
5. The term of the provident fund loan shall not exceed 30 years. For portfolio loans, the loan terms of provident fund loans and commercial housing loans must be the same.
Application process
1. Borrowers applying for housing provident fund loans need to submit a written application to the Municipal Housing Provident Fund Management Center, fill in the housing provident fund loan application form and provide relevant information truthfully.
2. The municipal housing provident fund management center is responsible for reviewing the borrower's qualification, guarantor's qualification, loan amount and loan term, and the completion of the contract. After that, the borrower and the center sign relevant contracts or agreements, and handle insurance according to the provisions of the People's Bank of China.
3. After the completion of the provident fund loan procedures, the municipal housing provident fund management center will issue a loan approval notice to the bank, and the bank will handle the loan transfer procedures after receiving the loan notice.
After seeing the above application conditions and procedures, second-hand house buyers who intend to apply for housing provident fund loans in different places may wish to know more about the implementation degree and specific implementation of the loan policy in different places. If the workplace and the location of the house are not together, you may wish to make enough understanding and preparation in advance, so that the new national policy can really have a practical effect on the purchase of second-hand houses.
(The above answers were published on 20 15- 10-09. The current purchase policy should be based on the actual situation. )
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