Property buyers need to meet some conditions before they can use the provident fund to pay the down payment. Property buyers should meet the purchase conditions of the local provident fund management department. For example, property buyers should be registered in this city or pay social security or provident fund in this city for a certain number of years. The balance of the provident fund account should be enough to pay the down payment for buying a house. Buyers need to pay enough provident fund in advance before buying a house to ensure that the balance of the provident fund account is sufficient. Property buyers need to apply to the provident fund management department to withdraw the provident fund, and provide relevant materials such as purchase contracts and purchase invoices. Property buyers should provide true and accurate information and abide by relevant regulations and requirements.

Conditions under which provident fund can be used for down payment:

1. Qualification of the purchaser: the purchaser shall meet the purchase conditions of the local provident fund management department, such as the purchaser shall have the household registration in this city or pay social security or provident fund in this city for a certain number of years;

2. The purchaser applies for withdrawing the provident fund: the purchaser needs to apply to the provident fund management department to withdraw the provident fund, and provide the purchase contract, purchase invoice and other related materials;

3. The balance of the provident fund account is sufficient: the balance of the purchaser's provident fund account should be enough to pay the down payment for the house purchase;

4. The down payment ratio of house purchase meets the requirements: different regions may have different regulations on the down payment ratio of house purchase, and buyers need to apply according to the regulations of the local provident fund management department;

5. Buyers have no other bad credit records: Buyers should have no other bad credit records or negative records, such as tax arrears, arrears or bad credit records that may affect the withdrawal of provident fund.

To sum up, when using the provident fund to pay the down payment, buyers should abide by the relevant regulations and requirements to ensure that the use is legal and compliant. Property buyers need to apply to the provident fund management department in time to withdraw the provident fund, provide accurate materials and comply with relevant regulations and requirements, so as to better safeguard their rights and interests in buying houses.

Legal basis:

Article 24 of the Regulations on the Management of Housing Provident Fund

Under any of the following circumstances, employees can withdraw the storage balance in the employee housing provident fund account: (1) purchasing, building, renovating or overhauling their own houses; (2) retirement; (three) completely lose the ability to work, and terminate the labor relationship with the unit; (4) Having left the country to settle down; (5) Repaying the principal and interest of the house purchase loan; (six) the rent exceeds the prescribed proportion of family wage income. In accordance with the provisions of items (2), (3) and (4) of the preceding paragraph, the employee housing provident fund account shall be cancelled at the same time. If an employee dies or is declared dead, the employee's heirs and legatees may withdraw the storage balance in the employee's housing provident fund account; If there is no heir or legatee, the storage balance in the employee housing provident fund account shall be included in the value-added income of the housing provident fund.