There are three ways to repay mortgage with provident fund.
One-time repayment method. Withdraw the balance of provident fund from the housing provident fund account and repay the loan in one lump sum. Many people repay their loans in this way after retirement. After the loan is repaid, if there are still outstanding loans, the remaining loan principal and repayment period will be recalculated to determine the future monthly repayment amount.
Stop repaying the loan for several months. Withdraw the balance from the provident fund account and repay the loan in advance. After repaying the loan in advance, the lender may stop repaying the loan for several months. (The time to stop repayment depends on the loan amount repaid in advance, but it cannot exceed 12 months. After the repayment period ends, the lender shall continue to repay the loan on a monthly basis. The interest owed during the suspension period is not subject to penalty interest or compound interest, and will be deducted from the monthly repayment after the suspension. Some property buyers have changed their income at a certain stage (such as illness, childbirth, unemployment, etc.). ), and they often use this method to repay loans.
Monthly repayment method. Withdraw the provident fund directly from the provident fund account every month to repay the loan. When the amount of housing provident fund withdrawn is insufficient, the lender shall make up the repayment amount in time.
If you apply to repay the loan with the provident fund, you can directly apply to the loan bank and sign the Power of Attorney for Withdrawing the Housing Provident Fund and Returning the Housing Loan (hereinafter referred to as the Power of Attorney). After the loan principal and interest are settled, the power of attorney will automatically terminate. If one-time repayment is adopted or repayment is stopped for several months, the power of attorney will be signed in June+0-March, 5438, and the provident fund will be repaid in April-June; Sign the power of attorney in April-August, and repay the loan from the provident fund in September-65438+10; If the power of attorney is signed in September-65438+February, the provident fund will be repaid in April-June of the following year. If monthly repayment is adopted, the provident fund will be repaid after 3 1 day accepted by the bank.
If the purchaser uses the housing provident fund to handle individual housing loans, housing portfolio loans or commercial housing loans, he may apply for repayment of the provident fund. The spouse and immediate family members of the purchaser can use their own provident fund to repay the loan.
To change the repayment method of provident fund, you must apply to the loan bank for a change of entrustment, and sign the Letter of Entrustment for Withdrawing Housing Provident Fund and Returning Housing Loan, but the change of repayment method of provident fund must be completed one year after the original entrustment or entrustment change. Before the principal and interest of the loan are settled, the buyer can sign the Letter of Termination of Entrustment for Withdrawing Housing Provident Fund and Returning Housing Loan with the loan bank, and go through the formalities of termination of entrustment, but it is not allowed to entrust the housing provident fund to repay the loan again within one year.