For borrowers who have paid in full for more than five years in a row and have stable income, good credit and the ability to repay the principal and interest of the loan, they can be extended for one to five years.
If you retire in five years, you can borrow for four to five years, and those who meet the above conditions can be extended 1 to five years.
The term of the housing provident fund loan is calculated according to the lowest of the following two items.
(a) the term of first-hand property loans shall not exceed 30 years, and the term of second-hand property loans shall not exceed 20 years.
(2) The sum of the borrower's age and the loan term shall not exceed 5 years after the statutory retirement age. The legal retirement age is generally calculated according to the age of 55 for women and 60 for men.
If two or more people purchase the same house and apply for housing provident fund loans, the longest loan period shall be calculated.
Extended data:
Letter of credit clause
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. To participate in the housing provident fund system, if you want to apply for a housing provident fund personal purchase loan, you must also meet the following conditions: that is, the housing provident fund has been continuously paid for at least 6 months before applying for the loan. Because, if the employee's behavior of paying housing provident fund is abnormal and intermittent, it means that his income is unstable and he is prone to risks after issuing loans.
3. One of the husband and wife has applied for a housing provident fund loan, and neither of them 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 repayment ability, 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 risky to lend to housing provident fund, 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 conditions of provident fund loans and commercial housing loans must be the same.
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