How to convert a commercial loan into a housing provident fund loan

1. Conditions for converting a commercial loan into a provident fund loan

1. A commercial loan must meet the following conditions when converted into a provident fund loan: When the original commercial loan is converted into a provident fund loan, the principal balance must be less than the loanable amount of the applicant's provident fund; a guarantee recognized by the center can be provided; the provident fund has been paid in full for more than 6 months continuously; both the applicant and his wife must not have outstanding provident fund loans. ; The original commercial loan has been repaid normally for more than one year, and the repayment record is good.

2. Legal basis: Article 26 of the "Housing Provident Fund Management Regulations".

Employees who have paid housing provident funds can apply for housing provident fund loans from the Housing Provident Fund Management Center when purchasing, constructing, renovating, or overhauling their own homes. The Housing Provident Fund Management Center shall make a decision on whether to grant a loan within 15 days from the date of accepting the application, and notify the applicant; when granting a loan, the entrusted bank shall handle the loan procedures.

2. What conditions and materials are needed to apply for a commercial loan?

1. Conditions to be met when applying for a commercial loan

The borrower must be over 18 years old, the applicant must be no more than 70 years old for the loan, have a down payment for a house and a stable job, with a monthly salary of More than 2 times the repayment amount. He needs to provide proof of income and no bad credit history.

2. Information required when applying for a commercial loan

How to convert a commercial loan into a provident fund loan

1. Can a commercial loan be converted into a provident fund loan?

Commercial loans can be converted into provident fund loans, but the following conditions must be met:

1. The provident fund is in normal deposit status when the borrower works in the place where the provident fund loan is applied for and applies for the loan;

2. The applicant or the unit where the applicant works together with the applicant has paid housing provident fund for the borrower for a full month or more in accordance with regulations;

3. The applicant has a stable economic income and Ability to repay the loan;

4. The applicant agrees to provide an approved loan guarantee method;

5. The applicant and *** the same applicant including their spouse, except for applying for a loan converted to provident fund There are no loans or other debts that have not been repaid;

6. The "House Ownership Certificate" or "House Notice Registration Certificate" involved in converting the commercial loan to a provident fund loan has been issued and the mortgage registration procedures can be completed;

7. The normal repayment period for commercial loans includes more than 10 years and no overdue repayment record;

8. Portfolio loans cannot be applied for converting commercial loans into provident fund loans;

9. To convert a commercial loan into a provident fund loan, you can only apply for a pure provident fund loan;

2. How to convert a commercial loan into a provident fund loan?

1. Consult and accept. Applicants for loan refinancing should go to the original commercial loan bank for consultation. If they meet the conditions for refinancing, bank staff should guide the borrower to correctly and completely fill in the "Personal Housing Provident Fund Refinancing Folder".

2. Submit information. Submit relevant information required by the lending institution.

3. Loan acceptance. For eligible borrowers, the trustee bank will conduct a pre-loan trial calculation in the provident fund system, and based on the trial calculation results and loan repayment ability, negotiate with the borrower to determine the loan amount, term, interest rate and repayment method; the trustee bank will conduct a pre-loan trial calculation in the provident fund system. Conduct a preliminary review. If the application fails the preliminary review, the borrower will be notified of the reasons in a timely manner.

4. Sign the contract. The loan applicant signs a loan (mortgage) contract with the original commercial loan bank, and at the same time signs a guarantee contract with the guarantee company designated by the management under the guidance of the bank.

5. Pre-deposit funds. The borrower deposits the difference between the balance of the original commercial loan and the re-loan with its own funds into a special deposit account opened by the re-loan bank to settle the original commercial loan in advance.

6. Loan disbursement. The bank that manages the disbursement of loan funds and has on-loan notices the on-loan borrower to simultaneously settle the original commercial loan with provident fund loan funds and the borrower's pre-deposited funds.

3. How to convert commercial loans into provident fund loans (process)

7. Apply for mortgage. The guarantee company will handle the cancellation procedures for the original commercial loan real estate mortgage, and complete the registration procedures for transferring the provident fund loan mortgage.

How to convert a commercial loan for a house purchase into a provident fund

There are many situations where you get a loan from a commercial bank because you are buying a second-hand house or the developer does not support a provident fund loan. The loan interest rate of a commercial bank It is much higher than the provident fund, and the provident fund itself does not generate any income, which is a double loss for those with provident funds. Therefore, if you buy a house with a commercial loan and have provident fund, it is best to switch to a provident fund loan. For example, if you take a loan of 280,000 from a commercial bank with a term of 20 years and equal principal and interest, then the monthly repayment will be about 1,830 yuan per month, while the provident fund only costs 1,400 yuan. /month, if you have money in your provident fund account, you can also apply for hedging. If you hedge 1,000 yuan per month, the actual monthly loan repayment will only be 400 yuan, which is very cost-effective for salaried workers.

First, go to the provident fund center where the property is located for consultation, and ask for the materials to be prepared and the details that need to be paid attention to. You must first ask whether your situation allows you to convert a commercial loan into a provident fund loan. There are many conditions for converting a business into a public company. You must meet certain conditions before you can get a loan. Otherwise, you may be afraid that if you repay the loan here, you will be passive if the loan cannot be obtained there.

Second, repay the loan at the commercial bank and go to the bank to print half a year's bank statements and proof of loan settlement. Please note that the provident fund is required to submit preliminary review materials within thirty days after the bank issues a settlement certificate. If it is overdue, the application will not be processed.

Third, prepare the materials required by the Provident Fund one by one, and submit the materials to the special review window of the Provident Fund Center for preliminary review. After the preliminary review is over, wait for the Provident Fund Center to notify you of the interview, usually via text message. Be sure to pay attention to avoid missing the time.

Fourth, the original documents from the initial review must be brought with you to the interview, and the provident fund center must scan and enter them into the system. There are several processes after the interview. Generally, there is a process description. Applicants can follow the process.

Fifth, after the interview is completed, go to the real estate center to handle the mortgage procedures. Five days later, pay the fee and send the mortgage procedure registration form to the provident fund center. For mortgage procedures, you need to bring your ID card, real estate certificate and provident fund related forms.

Sixth, to apply for loan mortgage, take your real estate certificate to the real estate center to apply for mortgage, and hand in the mortgage fee note to the provident fund center. At this point, all the formalities for business-to-public transfer have been completed, and we are patiently waiting for the loan.

How to convert a commercial loan to a housing provident fund loan

Operation steps for converting a commercial loan to a housing provident fund loan: 1. For individuals who meet the conditions for a housing provident fund loan, there are three ways to convert a commercial loan to a provident fund loan. choose. 2. Customers can first raise funds by themselves to settle the original bank loan, cancel the mortgage on the original property, and after re-mortgaging, the provident fund center will release the money to the customer's deposit account. 3. The customer pays a deposit and uses another house owned by himself or his spouse or his immediate family members as a mortgage. The provident fund center can lend money to the customer and return the deposit after the customer repays the original loan.

Article 24 of the "Housing Provident Fund Management Regulations" If an employee has any of the following circumstances, he or she may withdraw the balance in the employee's housing provident fund account: (1) Purchase, build, renovate, or overhaul self-occupied housing (2) Retirement or retirement; (3) Completely losing the ability to work and terminating the labor relationship with the employer; (4) Leaving the country to settle down; (5) Repaying the principal and interest of a house purchase loan; (6) The rent exceeds the family salary income of the prescribed ratio.

There are a thousand Hamlet among a thousand people. No two identical leaves can be found in the world. Everyone has different opinions and views. For the same thing, everyone can There will also be different judging criteria. My answer may not be the most standard or correct, but I hope it can be of some help to you and get your approval. Thank you!

How to convert commercial loans into provident fund loans

Commercial loans can be converted into provident fund loans through the following process:

1. Loan consultation. Applicants for refinancing should go to the original commercial loan bank for consultation. If they meet the conditions for refinancing, they can fill in the "Personal Housing Provident Fund Refinancing Folder" to apply.

2. Submit information. Submit relevant information required by the lending institution.

3. Loan acceptance. The trustee bank reviews whether the borrower meets the conditions and negotiates with the borrower to determine the loan amount, term, interest rate and repayment method.

4. Sign the contract. The loan applicant signs a loan (mortgage) contract with the original commercial loan bank, and at the same time signs a guarantee contract with the designated guarantee company under the guidance of the bank.

5. Pre-deposit funds.

The borrower deposits the difference between the balance of the original commercial loan and the re-loan with its own funds into a special deposit account opened by the re-loan bank to settle the original commercial loan in advance.

6. Loan disbursement. The Commercial Loan Bank releases the loan funds and then notifies the re-lender to use the provident fund loan funds and the borrower's pre-deposited funds to settle the original commercial loan at the same time.

7. Apply for mortgage. The guarantee company will handle the cancellation procedures for the original commercial loan property mortgage and register the new mortgage for the provident fund loan.

1. Housing provident fund loans refer to local housing provident fund management centers using the housing provident funds paid by employees and their units, and entrusting commercial banks to pay housing provident funds to current employees who have paid housing provident funds and during their employment. House mortgage loans issued to retired employees. The housing provident fund refers to the long-term housing savings deposited by state agencies, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions and their employees. The housing provident fund paid by employees and the housing provident fund paid by the employee's unit for employees are personal savings deposited by employees in accordance with regulations and specifically used for housing consumption expenditures, and belong to the individual employees. When an employee retires, the principal and interest balance will be paid in one lump sum and returned to the employee himself.

2. Commercial loans are loans used to supplement the working capital of industrial and commercial enterprises. They are generally short-term loans, usually 9 months and no more than one year at most, but there are also a small number of medium and long-term loans. This type of loan is the main component of commercial bank loans, generally accounting for more than one-third of total loans.

How to convert a commercial loan into a provident fund loan

There are two ways to convert a commercial loan into a provident fund loan.

One is to repay first and then lend, and the lender himself Pay off the commercial loan first;

The other is to use the loan to offset the loan. The lender must pay off the difference between the principal and interest balance of the commercial loan greater than the business-to-public loan in advance.

To apply for a "commercial loan to provident fund loan", the borrower should meet the following 7 conditions at the same time:

1. Meet the city's housing provident fund loan application conditions;

2. The borrower must be the borrower or spouse of the original housing loan (must be the buyer);

3. The original commercial home purchase loan has not been settled and the bank agrees to the borrower's early settlement of the loan;

4. The original commercial house purchase loan has been repaid for more than one year (inclusive), the credit record is good, and there is no overdue loan balance;

5. The property purchased has been obtained from the local real estate registration department The issued house ownership certificate, and it is a steel-concrete structure;

6. Commercial loans that can be mortgaged on the purchased property can be converted into provident fund loans;

7. Have not applied for housing before Provident fund loan.

Extended information:

Changing a commercial loan to a provident fund loan is actually a transfer of claims between the commercial bank and the provident fund center. At this time, the creditor-debt relationship between the borrower and the commercial bank Transformed into a creditor-debt relationship between the borrower and the Provident Fund Center, that is, the borrower changed from repaying the loan to a commercial bank to repaying the loan to the Provident Fund Center.

Commercial loans and provident fund loans are actually two types of loans that are completely different in nature. There are differences between the two in many aspects such as the subject of loan funds, objects, and interest rate review guarantees. Therefore, once a loan is issued, there are many problems in the transfer of claims, such as loan guarantee methods.

How to convert a commercial loan into a provident fund loan? Introduction to two methods

In recent times, the issue of "converting business to public" has once again attracted attention. Converting commercial loans to provident fund loans is the choice of many home buyers. After all, there are many restrictions on housing provident fund loans. Therefore, many people have to choose commercial loans to buy houses, and then convert the commercial loans into provident fund loans after meeting the conditions. So how do you convert a commercial loan into a provident fund loan? Let’s take a look at how to convert a commercial loan into a provident fund loan.

How to convert a commercial loan to a provident fund loan

If you want to convert a commercial loan to a provident fund loan, you need to meet three conditions. First, the original lending bank agrees to convert a commercial loan to a public company. If a commercial lender wants to convert a housing loan into a provident fund loan, he first needs to communicate with the bank to see if the bank agrees to convert the commercial loan to a provident fund loan, because the provident fund loan interest rate is lower than the commercial loan interest rate. For the bank, converting a business loan to a public company means that Bank interest income will be reduced, so many banks will require commercial loans to reach a certain number of years before they can be converted into provident fund loans.

Secondly, you must meet the local provident fund loan conditions. If you want to transfer from business to public, you also need to understand the loan conditions stipulated by your local housing provident fund management center. Only users who meet the provident fund loan conditions can apply for provident fund loans. Usually, when applying for a provident fund loan, you need to have continuously paid the housing provident fund for 12 months before the loan can be applied. In addition, there are also restrictions on the loan amount. The specific regulations of the local housing provident fund management center shall prevail.

In addition, if you want to convert a commercial loan into a provident fund loan, you also need to issue a property ownership certificate for the house you purchased. Because the bank needs to use your property ownership certificate as a mortgage, you need to apply for a commercial loan to provident fund loan. When buying a house, you need to have a property ownership certificate.

There are generally two ways to convert commercial loans into provident fund loans, as follows:

1. Repay first and then borrow. In this method, the borrower first applies to the local housing provident fund center for converting a commercial loan into a provident fund loan. After the provident fund management center receives the loan application, it will review the loan. After review and approval, the lender will use self-raised funds to transfer the loan to a provident fund loan. The commercial loan must be paid off in full, and then the guarantee and other procedures must be completed. After completing the relevant procedures, the commercial loan can be converted into a provident fund loan.

2. Use loans to offset loans. Loan-to-loan means that the borrower first applies to the local housing provident fund center for converting a commercial loan into a provident fund loan. After the provident fund management center agrees, it first repays the interest on the commercial loan that is higher than the provident fund loan, and then goes through the loan renewal procedures. After the guarantee procedures are completed, the commercial loan can be converted into a provident fund loan.

The above are the two methods of converting commercial loans into provident fund loans and how to operate them. In fact, it is good to convert a commercial loan into a provident fund loan, because the interest rate of a provident fund loan is relatively low. After all, the amount of your loan is not low, and the interest generated by the bank is really quite a lot. Therefore, it is good to convert a commercial loan into a provident fund loan. choose.