Commercial loans can be converted into portfolio loans. Individual commercial loans or provident fund loans can be converted into portfolio loans. As for whether to pay off the previous mortgage before turning it into a portfolio loan, it depends on local policies. After commercial loans are converted into portfolio loans, provident fund loans and commercial loans need to be repaid separately, but the mortgage interest will be lower than the full commercial loan interest.

In addition, after commercial loans are converted into portfolio loans, users must pay off provident fund loans and commercial loans before they can apply for provident fund loans again.

1. What are the advantages of applying for a portfolio loan?

1. First of all, the definition of portfolio loan is that mortgage can be divided into two parts, one is to use provident fund loans, and the other is to use commercial loans, so its interest is also calculated separately. The interest rate of provident fund loans is much lower than that of commercial loans, so the overall interest of portfolio loans will be much less than that of applying for pure commercial loans. So you can save a lot of money.

2. When applying for provident fund loans, you may encounter insufficient loan amount. You should know that there is a maximum amount of provident fund loans. The use of portfolio loans can solve the problem of insufficient provident fund loans. Portfolio loan is a combination of provident fund loan and commercial loan. If the loan is insufficient, you can apply for commercial loan. So you can increase the loan amount.

2. What are the precautions for applying for portfolio loans?

1. If buyers want to apply for portfolio loans, they need to pay provident fund loans. Because portfolio loans include provident fund loans and commercial loans, buyers must be employees who pay the provident fund on time and the provident fund account is still in a normal state of payment.

2. When applying for portfolio loans, buyers should use the amount of provident fund loans as much as possible, because the interest rate of provident fund loans is relatively low, which can effectively save interest rates, extend the term of provident fund loans as much as possible, and shorten the term of commercial loans to a great extent, so as to reduce the monthly repayment amount and save the loan cost.

3. If the buyer intends to repay the loan in advance, then after applying for the portfolio loan, the commercial loan should be repaid in advance, and the provident fund loan can be repaid in a hurry, because in the portfolio loan, the loan interest rate of the commercial loan is higher than that of the provident fund loan. If the commercial loan is paid off first, the borrower can save a lot of mortgage interest.

Can commercial loans be converted into portfolio loans?

Commercial loans can be converted into portfolio loans. Individual commercial loans or provident fund loans can be converted into portfolio loans. As for whether to pay off the previous mortgage before turning it into a portfolio loan, it depends on local policies.

In addition, after commercial loans are converted into portfolio loans, users must pay off provident fund loans and commercial loans before they can apply for provident fund loans again.

Provident fund loans refer to loans enjoyed by employees who pay housing provident fund. According to the national regulations, all employees who have paid the provident fund can apply for provident fund loans according to the relevant provisions of provident fund loans.

According to the regulations, employees who have paid housing provident fund for a certain number of years or more (the number of years varies from city to city, such as 12 months or more in Changsha) can apply for provident fund loans when the funds for purchasing, building, renovating or overhauling their own houses are insufficient.

Provident fund loans refer to individual housing provident fund loans, which are issued by local housing provident fund management centers. With the housing provident fund paid by employees who apply for provident fund loans, commercial banks are entrusted to provide mortgage loans to housing provident fund depositors who purchase, build, renovate or overhaul their own houses and retired employees who pay housing provident fund during their employment.

The loan conditions are: the employees of the unit have signed labor contracts for more than three years (or signed 1 year labor contracts for three consecutive years); Normal continuous monthly housing provident fund deposit exceeds a certain period; Not exceeding the statutory retirement age; The borrower has a stable economic income and the ability to repay the principal and interest; The borrower agrees to handle the mortgage registration and insurance; Provide the guarantee method agreed by the local housing provident fund management center and its sub-centers; At the same time, submit the relevant documents required by the bank.

Letter of credit clause

1. Only employees who participate in the housing provident fund system are eligible to apply for housing provident fund loans, and employees who do not participate in the housing provident fund system cannot apply for housing provident fund loans.

2. To participate in the housing provident fund system, if you want to apply for a housing provident fund personal purchase loan, you must also meet the following conditions: that is, the housing provident fund has been continuously paid for at least 6 months before applying for the loan.

3. One of the husband and wife has applied for a housing provident fund loan, and neither of them can get a housing provident fund loan until the principal and interest of the loan are paid off. Because the housing provident fund loan is a kind of "housing security" financial support to meet the basic housing needs of workers' families.

4. When applying for a housing provident fund loan, the loan applicant must have a relatively stable economic income and repayment ability, and there are no other outstanding debts that may affect the repayment ability of the housing provident fund loan. When employees have other debts, it is risky to lend to housing provident fund, which violates the principle of safe operation of housing provident fund.

5. The term of the provident fund loan shall not exceed 30 years. For portfolio loans, the loan conditions of provident fund loans and commercial housing loans must be the same.

Commercial loans can be converted into portfolio loans. Individual commercial loans or provident fund loans can be converted into portfolio loans. As for whether to pay off the previous mortgage before turning it into a portfolio loan, it depends on local policies.

In addition, after commercial loans are converted into portfolio loans, users must pay off provident fund loans and commercial loans before they can apply for provident fund loans again.

Provident fund loans refer to loans enjoyed by employees who pay housing provident fund. According to the national regulations, all employees who have paid the provident fund can apply for provident fund loans according to the relevant provisions of provident fund loans.

According to the regulations, employees who have paid housing provident fund for a certain number of years or more (the number of years varies from city to city, such as 12 months or more in Changsha) can apply for provident fund loans when the funds for purchasing, building, renovating or overhauling their own houses are insufficient.

Provident fund loans refer to individual housing provident fund loans, which are issued by local housing provident fund management centers. With the housing provident fund paid by employees who apply for provident fund loans, commercial banks are entrusted to provide mortgage loans to housing provident fund depositors who purchase, build, renovate or overhaul their own houses and retired employees who pay housing provident fund during their employment.

The loan conditions are: the employees of the unit have signed labor contracts for more than three years (or signed 1 year labor contracts for three consecutive years); Normal continuous monthly housing provident fund deposit exceeds a certain period; Not exceeding the statutory retirement age; The borrower has a stable economic income and the ability to repay the principal and interest; The borrower agrees to handle the mortgage registration and insurance; Provide the guarantee method agreed by the local housing provident fund management center and its sub-centers; At the same time, submit the relevant documents required by the bank.

Letter of credit clause

1. Only employees who participate in the housing provident fund system are eligible to apply for housing provident fund loans, and employees who do not participate in the housing provident fund system cannot apply for housing provident fund loans.

2. To participate in the housing provident fund system, if you want to apply for a housing provident fund personal purchase loan, you must also meet the following conditions: that is, the housing provident fund has been continuously paid for at least 6 months before applying for the loan.

3. One of the husband and wife has applied for a housing provident fund loan, and neither of them can get a housing provident fund loan until the principal and interest of the loan are paid off. Because the housing provident fund loan is a kind of "housing security" financial support to meet the basic housing needs of workers' families.

4. When applying for a housing provident fund loan, the loan applicant must have a relatively stable economic income and repayment ability, and there are no other outstanding debts that may affect the repayment ability of the housing provident fund loan. When employees have other debts, it is risky to lend to housing provident fund, which violates the principle of safe operation of housing provident fund.

5. The term of the provident fund loan shall not exceed 30 years. For portfolio loans, the loan conditions of provident fund loans and commercial housing loans must be the same.

Can commercial loans be converted into portfolio loans?

Commercial loans can be converted into portfolio loans. Individual commercial loans or provident fund loans can be converted into portfolio loans. As for whether to pay off the previous mortgage before turning it into a portfolio loan, it depends on local policies.

After commercial loans are converted into portfolio loans, provident fund loans and commercial loans need to be repaid separately, but the mortgage interest will be lower than the full commercial loan interest.

Commercial loans are loans used to supplement the working capital of industrial and commercial enterprises, usually short-term loans with a term of 9 months. Such loans are the main part of commercial bank loans, generally accounting for more than one third of the total.

Commercial loans, also known as individual housing loans, are loans provided by commercial banks and housing savings banks approved by the People's Bank of China for urban residents to purchase ordinary housing for their own use.

Matters needing attention

1. Submit a loan application: When you have signed a house sales contract, you can apply for a commercial loan from the bank. Whether it is a first-hand mortgage or a second-hand mortgage, it is necessary to submit the complete materials approved by the bank to the bank for review, which is the most important step in the commercial loan process.

Mainly including ID card, household registration book, original and copy of marriage certificate; Foreign household registration needs to provide temporary residence permit or residence permit; Income certificate issued by the work unit; Sales contract, down payment invoice or receipt; Wage flow or other proof of assets in the past six months. In addition to the above five materials, different banks have different requirements for commercial loans, and other materials required by loan banks should be inquired in detail.

2. Investigation accepted by the bank: After receiving the application materials of the loan applicant, the bank will review the materials. The general review time for commercial loans is 15 working days, and the longest time shall not exceed 1 month.

During the bank investigation, the loan applicant will be asked to supplement some information according to the situation. Therefore, the loan applicant needs to keep in touch with the bank during this period.

3. Bank verification and approval: the loan bank will verify several aspects: the situation of the house, the qualification and credit status of the borrower, etc. This is an important link in the process of commercial loans. If the credit of the loan applicant is not good, it will directly lead to the failure of the loan application, so it is very important to accumulate good personal credit in life.

4. Both parties shall go through relevant formalities: the bank informs the loan applicant that after the loan is approved, it is necessary to open an account in the bank, get a debit card and sign a loan contract. At the same time, handle mortgage, guarantee, pledge, insurance and other related guarantee procedures. When signing a loan contract and handling the guarantee formalities, you must know the detailed rules in the contract in detail and make clear your rights and obligations so as to avoid unnecessary misunderstanding.

5. Bank loan: After all loan procedures are completed, the bank transfers the loan funds to the account of the real estate developer, and the loan relationship is established, and the lender repays the loan according to the regulations.

Can commercial loans be converted into portfolio loans?

Of course.

Conditions for converting commercial loans into portfolio loans:

1. The loan applicant must pay the housing provident fund to the housing provident fund management center on time, in full and continuously within six months before applying for the loan;

2. The purchased house is a self-occupied ordinary house;

3, a stable source of economic income and the ability to repay the principal and interest on time;

4. Provide the guarantee company recognized by the Center as repayment guarantee or the securities recognized by the bank as pledge;

5. The loan applicant has obtained the house ownership certificate, house ownership certificate and state-owned land use certificate of the purchased house;

6. Both husband and wife of the loan applicant shall not have outstanding provident fund loans.

The process of converting commercial loans into portfolio loans:

1. First of all, you need to fill out the Application Form for Converting Commercial Housing Loan to Provident Fund (Combined Loan).

2. Relevant materials need to be prepared, such as household registration book, ID card, marriage certificate (married), repayment details of original commercial loan, original commercial loan contract, etc.

3. The borrower must meet the local provident fund loan conditions, have a stable income and a certain repayment ability, and have a good personal credit.

4. The borrower applies for housing provident fund loans to the real estate credit department of CCB in all districts and counties with a copy of the house purchase contract and the developer's housing sales license, ID card, housing provident fund savings magnetic card and seal (if the husband and wife use housing provident fund loans, they need to bring marriage certificates and other relationship certificates), and fill out the Application Form for Individual Housing Provident Fund Loans (Combined Loans).

5. According to the information provided by the borrower, the loan bank evaluates whether the borrower meets the loan conditions, calculates the loan amount and determines the loan term.

6. After the bank examines the borrower's application, the borrower signs a loan contract and a mortgage contract with the bank (if there is no house guarantee, a pledge contract is signed).

7. After signing the loan contract, go to the relevant departments for housing provident fund loans (portfolio loans).

8. Handling mortgage insurance procedures: After handling mortgage or pledge procedures in the property right department, go to the loan bank to handle home insurance procedures together with the housing ownership certificate, mortgage contract (pledge contract), loan contract, mortgage certificate and other loan materials.

9. Sign a repayment agreement and transfer money: If the repayment is withheld by a savings card, the borrower will go to the savings outlet to handle the repayment withholding savings card and sign a withholding agreement with the loan bank. The bank will transfer the money to the selling unit for the loan of repairing the building, and the borrower will withdraw it according to the loan contract.

Can commercial loans be converted into portfolio loans? Let's stop here.