Commercial loans can be repaid with provident funds. There are generally two types, referred to as annual repayment and monthly repayment. Annual offset refers to withdrawing the housing provident fund account balance from the trustee bank once a year to offset the loan principal at once, and recalculating the monthly repayment amount based on the remaining loan principal and repayment period after the offset. Monthly offset refers to the withdrawal directly from the client's provident fund account every month to repay the principal and interest of the loan for that month.

What is the process of buying a house with a commercial loan?

1. Handling the interview

The interview process is actually the process of collecting the information and spare parts required by the buyer and seller to apply for the loan. , which is also the process of signing a loan contract. When signing a loan contract, be sure to fill in the loan amount, loan period, repayment method and discounted interest rate clearly. The required spare parts vary depending on the situation of the person handling it, but the commonly used documents include ID card, household register, real estate certificate, marriage certificate, bank statement, and online contract signing. Other spare parts are prepared by ourselves according to the bank's requirements and our own circumstances.

2. Report to the bank for appraisal

In the online signing contract provided to the bank during the interview, there is a column for the online signing price, and the house appraisal price involves the transfer and payment of taxes. Generally, the appraisal The final loan appraisal price will be given based on the online signing price and the actual condition of the house, and the appraisal price shall not exceed the actual transaction price of the house. The appraisal report is issued by an appraisal agency recognized by the bank. Some appraisal agencies require an on-site inspection of the condition of the house, and some require real photos of the house for appraisal.

3. Bank approval

Banks will review the authenticity of the documents provided by the buyer and seller. Some banks will also verify whether the bank statements provided by the buyer are authentic. Banks will control based on their respective lending quotas. If a bank's lending quota is small, approval will be relatively difficult. In comparison, loan approvals are faster in the first half of each year than in the second half.

4. Approval of qualified loans

After the loan is approved, the bank will notify you and the transfer can be processed after 2 working days.

5. Loan after transfer

You can obtain the real estate certificate and other warrants within 5-10 working days after the transfer. The bank will take away the other warrants on the day you get the certificate. 5 —The loan can be released within 10 working days. About one month after the loan is disbursed, the buyer will go to the bank where the loan was issued to get the mortgage contract, and repay the loan on time according to the repayment plan in the contract.