Why are portfolio loans the first batch of provident funds?
When handling portfolio loans, if the provident fund loan part is approved first, it should only be approved by the provident fund management center relatively quickly, and some customers apply for portfolio loans by approving the commercial loan part first and then the provident fund loan part. Which one to approve first actually depends mainly on the efficiency of the audit. We should know that although the commercial loan part of the portfolio loan and the provident fund loan part were submitted at the same time, they were not reviewed together. Commercial loans are audited by the entrusted banks, and provident fund loans are audited by the local housing provident fund management center. Loan funds are also distributed separately.
After all the provident fund loans and commercial loans are approved, customers will sign loan contracts at outlets within the agreed time, handle mortgage and other related procedures, and then enter the lending process. As for which to allocate first, it also depends on their respective efficiency. Put the provident fund loan part first, and then put the commercial loan part; There are also some commercial loans first, and then provident fund loans. After the loan arrives, the repayment is also paid separately.
In fact, it is much more difficult to apply for a portfolio loan than a single loan. The reasons for the difficulty in applying for portfolio loans are as follows:
1, the lending speed is slow
Because portfolio loans involve commercial banks, housing provident fund management centers, guarantee companies and other institutions, the processing cycle usually takes two or three months or even longer. Therefore, it is best to consult the developers before lending, and they may refuse you to use the portfolio loan. If you buy a second-hand house, it depends on whether the landlord accepts a portfolio loan and is willing to wait.
2. Two loans must be issued at the same time.
Because the approval departments of provident fund and commercial loans are different, both departments need to approve before lending. The loan release time agreed in the contract is generally agreed by the buyer and the seller, and has nothing to do with the provident fund center, which is not responsible for it.
3. The interest rate is not necessarily lower than the pure commercial loan.
Pure commercial loans can usually get a 15% discount, even if the benchmark interest rate changes in the future, this discount will not change. On the contrary, the floating part of commercial loans in portfolio loans is permanent.
4. It must be the same bank.
When applying for portfolio loans, you must apply for provident fund loans and commercial loans in the same bank, and you must also go to a designated bank, and you need to meet the requirements of both commercial loans and housing provident fund loans, otherwise the down payment ratio and loan interest rate standards will rise.
To sum up, portfolio loans are relatively bad loans and may not be suitable for all property buyers. The specific loan method of buyers should be selected according to the actual situation.