Guangzhou has implemented the “provident fund individual housing discount loan” for more than a month, and there have been many successful cases of using provident fund discount loans to purchase houses. It is reported that subsidized loans are only for portfolio loans. The biggest advantage may be that the loan time is shorter. Currently, most of the buyers who use this method are improvement buyers. Since interest rates have been cut five times this year, the difference between commercial loan interest rates and provident fund loan interest rates is no longer large. Industry insiders suggest that if you want to get a loan approved quickly, you can use a combination loan to enjoy the benefits of provident fund low interest rates and quickly disburse funds.
Improvement buyers like to use subsidized loans
Since provident fund subsidized loans significantly shorten the approval and disbursement time for pure provident fund loans or original combination loans, owners are relatively willing to accept provident fund subsidized loans. Enhanced. Judging from November data, portfolio loans increased by 50% month-on-month.
However, overall, there are not many buyers in the market who have a clear understanding of this. Therefore, those who meet the conditions will generally recommend subsidized loans to them first, and buyers are also relatively receptive to this. Because the loan approval speed is indeed faster than that of provident funds, the main buyers who use this method are improvement buyers. They mainly deal with more transaction cases from Bank of China and China Construction Bank. Currently, 90% of the transactions submitted for approval have been approved.
Currently, the market is dominated by improvement buyers, so property prices are generally on the high side. Buyers who need to use combination loans will recommend provident fund discount loans to them. As long as buyers meet the provident fund loan conditions, they can apply. Approved.
Short lending time and high acceptance by sellers
The provident fund discounted loan method requires the bank's preliminary review, scanning the information to the provident fund center and other internal processes. The provident fund center will review and approve whether it is consistent with the provident fund loan. standards, so the approximate approval time for subsidized loans takes 12 to 15 working days, so it can be completed in about one and a half months from case approval to loan disbursement; while the approval time for commercial loans is about ten working days shorter than that for Provident Fund subsidized loans, but The lending time is roughly the same. Not only can you enjoy the benefits of low interest rates from the provident fund, but the waiting time for a loan can also be significantly shortened, which greatly promotes the closing of transactions between buyers and sellers.
Experts suggest: Apply for housing provident fund discount loans if the amount is sufficient
The so-called "provident fund individual housing discount loan" means that commercial banks use bank funds to provide housing provident fund loans and commercial bank individuals Borrowers who meet the housing loan conditions are granted subsidized loans, and the borrower pays interest to the bank according to the commercial housing loan interest rate. The interest difference between the subsidized loan and the provident fund loan is paid to the borrower by the Guangzhou Housing Provident Fund Management Center on a monthly basis. Employees who meet the provident fund loan conditions can voluntarily choose to wait for a provident fund loan or apply for a provident fund discount loan. Borrowers who use subsidized loans are regarded as using provident fund loans, and the relevant policies and regulations of Guangzhou housing provident fund loans are applicable. Currently, three banks, China Construction Bank, Bank of China and Guangzhou Rural Commercial Bank, can accept discount loan business.
Through subsidized loans, buyers can enjoy the low interest rates of the provident fund and get loans quickly. However, once the loan-to-deposit ratio reaches or falls below 70%, the subsidized loan will be forced to be converted into a commercial loan, and the provident fund will The management center will no longer provide interest discount services. It is reported that the Guangzhou Provident Fund Center plans to invest 5 billion yuan a year in subsidized loans. Currently, provident fund subsidized loans are widely accepted, but will the quota be used up?
According to bank feedback, there are more than 200 transactions in more than a month. Even based on the 6,000 second-hand unit transactions in Guangzhou in November, the proportion of combined loans is roughly around 15% to 20%. It’s 1 million yuan, and the loan amount is only a few hundred million yuan. Interest rates have been cut five times this year, and the interest rates for commercial loans and provident fund loans are no longer much different. At present, pure provident fund loans still have to wait for a long time. If you want to get a loan quickly, it is recommended to use a combination loan, that is, the provident fund loan limit is not After it is fully used, apply for a small commercial loan, so that the interest expense will not increase much, but the disbursement speed will be much faster.
(The above answer was published on 2015-12-26, please refer to the actual current relevant house purchase policies)
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