Even in 2017, the government’s control over commercial loans has not relaxed. Looking at the current situation, the government’s restrictions on commercial loans are becoming increasingly severe. Fortunately, there is a provident fund that can reduce everyone’s burden.

Of course, many home buyers have this idea: the amount of provident fund loan is positively related to the provident fund balance.

Depending on the applicability of the policy, the amount of a general provident fund loan is usually 15 to 20 times the balance, and most home buyers are well aware of this. Therefore, after many people join the workforce, they refrain from using their provident funds no matter what circumstances they encounter, for fear that it will affect their provident fund loans when they buy a house in the future.

Is there really a positive correlation between the loan limit and the provident fund balance?

Does the greater the balance, the higher the loan limit?

In fact, it is not the case. The provident fund loan limit is different. It has a lot to do with the provident fund balance in the applicant's name, but the loan amount is also intricately linked to other factors.

Let’s take a look at what other factors affect the loan amount.

Let me share an example first. Netizen Mr. Xu and his colleagues have worked in the same company for 2 years. During these 2 years, Mr. Xu has never withdrawn the provident fund. His colleague has withdrawn once because he rented a house. But now, two years later, when they were applying for provident fund housing loans, unexpected results occurred.

Mr. Xu, who originally thought that having a large balance would be an advantage, did not get a high-amount loan as he wished, and was almost rejected by the bank. Colleagues who had been worried about low quotas actually received higher quotas. This makes Mr. Xu a little confused: doesn’t the greater the provident fund balance, the higher the loan limit?

It can be seen that the provident fund balance is not the only factor that affects the loan limit. Why is there such a difference?

It turns out that although Mr. Xu has never withdrawn his provident fund in 2 years, his credit card has overdue three times in a year (emphasis added!!!). Although my colleague withdrew his provident fund for emergencies midway, his credit score remained good.

In the end, it turned out that the credit problem affected the loan limit, and Mr. Xu regretted it after realizing it...

In addition to personal credit status affecting the provident fund loan limit, the region Differences will also result in different amounts. In some cities, the provident fund account balance does not even affect the limit.

Xiao Xiao only takes Beijing as an example to analyze the decisive factors of provident fund loan amount.

1. Down payment: According to current property market policies, the down payment for a first home in Beijing is RMB 35, and the provident fund loan amount that can be applied for cannot exceed RMB 65 of the appraised value of the house.

2. Monthly income, monthly deposit amount, and years: There is a calculation formula for this. Based on the applicant’s monthly income and personal housing provident fund monthly deposit amount plus the borrowing period, the maximum loan amount = (family monthly income-Beijing basic living expenses Standard)/average monthly loan repayment amount per 10,000 yuan for the loan application period. The monthly income in the calculation formula = individual monthly housing provident fund payment amount/housing provident fund payment ratio.

3. Appraisal value of house purchase area: Judging from the currently implemented policies, applicants who purchase policy houses or first self-occupied houses with a complete building area of ??less than 90 square meters (inclusive), The maximum amount of a single provident fund loan is 1.2 million yuan. For those purchasing non-policy housing or second homes with a construction area of ??more than 90 square meters, the maximum loan amount is 800,000 yuan.

Xiao Xiao even heard from an enthusiastic citizen in Beijing that he withdraws his provident fund every month and still got a loan of more than 1 million when buying a house.

It can be seen that the amount of housing provident fund in Beijing depends on the down payment, monthly deposit amount, loan period, house appraisal value, etc. Although the account balance has no direct impact on the loan amount, applying for this loan requires the applicant to pay provident fund for 6 consecutive months.

The amount of the provident fund loan will also be linked to the applicant's loan repayment ability, house price and other factors, so what we can roughly determine is: the applicant's provident fund balance will not directly affect the loan amount, and the provident fund needs to be applied for Loan customers should focus more on credit status, home purchase status, etc.

(The above answer was published on 2017-02-08, please refer to the actual relevant current house purchase policies)

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