In line with the conditions of refinancing, the applicant needs to pay off the commercial loan by self-financing, and apply for the housing provident fund loan to the housing provident fund management institution with the prepared application materials within one month after the original commercial loan is paid off.
Extended data:
Yantai City "Housing Provident Fund Loan Business Instructions" Article 2 Procedures for handling individual housing provident fund loans.
1, loan application. Employees who purchase new commercial housing (faster) shall apply to the housing provident fund management institution that has signed a cooperation agreement with the developer; Employees who buy second-hand houses apply to the housing provident fund management institution where they buy houses (employees in six districts apply to the housing provident fund management institution where they deposit their houses to buy second-hand houses in six districts);
2. Loan process
(1) The borrower submits the complete loan materials to the housing provident fund management institution for approval;
(2) The borrower shall hold the loan approved by the housing provident fund management institution in the city center? "Personal housing provident fund loan entrustment acceptance notice" entrusts banks to handle relevant procedures (such as signing loan contracts, etc.). ), the bank will notify the borrower to go through the relevant procedures;
(3) Entrust the bank to sort out the materials and go through the mortgage pledge formalities at the real estate transaction department (hint: the borrower needs to put on record before buying the auction house of commercial housing; If you buy an existing house, you need a real estate license; If you buy a second-hand house, you need the borrower to cooperate with the real estate transaction department to handle the mortgage);
(4) After the mortgage pledge is proved, the bank will sort out the borrower's materials and send them to the provident fund management agency for review and loan.
3. Loan repayment. If the loan term is 1 year, the principal and interest will be repaid in one lump sum at maturity, and the interest will be paid off with the principal; If the loan term exceeds 1 year, the repayment method of equal principal and interest or average capital will be adopted, and the applicant will repay the loan on a monthly basis from the next month of the loan, and the entrusted bank will deduct the borrower's loan principal and interest on a monthly basis and transfer it to the account of the housing provident fund management institution.
Yantai Housing Provident Fund-Can a commercial housing loan be converted into a housing provident fund loan?