Can a provident fund loan require a down payment of 10%? What should I do if the down payment of a provident fund loan is not enough?

Generally speaking, provident fund loans cannot require a down payment of 10%. Basically, the down payment ratio is above 20%. If it is a second home, the down payment ratio will be higher. However, provident fund loan rules vary from region to region. Lenders can consult the local provident fund center for more information before applying for a provident fund loan.

Compared with commercial loans, provident fund loans can indeed achieve low down payments, but lenders need to pay attention to the fact that provident fund loans have a maximum limit. For example, if the provident fund loan limit in a certain place is 600,000 yuan, and a customer wants to apply for a loan of 1 million yuan, then he cannot pay according to 20% of the down payment, and needs to make up the insufficient part of the provident fund.

What affects the provident fund loan limit is the provident fund loan balance and the borrower's provident fund deposit base. The larger the borrower's provident fund account balance, the higher the provident fund loan applied for. However, some areas will also restrict lenders. The monthly repayment amount of provident fund cannot exceed half of the provident fund deposit base, which will also affect the amount of provident fund loan.

If the down payment is not enough when applying for a provident fund loan, the lender can first borrow money from relatives and friends, because loans from relatives and friends are relatively free in repayment, and the down payment can be paid first pressure. However, in this case, the lender must not try to borrow online loans to raise a down payment. Once the provident fund center finds out, the loan may be refused.

Generally speaking, if it is a first-time home loan, the down payment ratio when applying for a provident fund loan is not particularly high. In some areas, the down payment for provident fund loans can be as high as 20%. However, if the total price of the house purchased is high, the provident fund loan amount may not be enough. In this case, the lender will either increase the down payment ratio or choose a combination loan, and the shortfall in the provident fund loan will be made up by commercial loans. .

In order to ensure that the mortgage application is as smooth as possible, the borrower can find out clearly from the provident fund center before applying for the loan to see how much down payment he needs to prepare, and give himself time to raise the down payment. Don't Hurry to avoid making mistakes in the rush. Can I use the housing provident fund mortgage if I only pay 10% of the down payment?

Yes, but there is a limit on the total amount of the provident fund loan. If you only pay 10% of the down payment, the loan amount should be relatively high. If the entire provident fund loan is used, the amount may not be enough, so it should be necessary A combination of business loans will do. How much is the down payment for a provident fund loan

The down payment for a housing provident fund loan is generally about 20%, and the monthly payment is calculated based on the loan amount and time.

The application conditions for provident fund loans are:

1. Have a valid permanent residence in the town where the loan is taken, and be able to provide a valid proof of residence;

2. Have a continuous history before the loan The housing provident fund must be paid for more than 6 months, and the cumulative payment time of the provident fund cannot be less than 12 months;

3. The self-raised funds for the first home must account for more than 30% of the total price of the house purchased. The mortgage for a first home below 90 square meters only costs 20%.

Warm reminders for housing provident fund loans to buy a house:

1. Explanation of the down payment of housing provident fund loans for buying a house. The provident fund cannot be directly used as a down payment for buying a house. Citizens need to make a down payment first, and then go to the Housing Provident Fund Management Center to withdraw the balance in their provident fund.

2. The housing provident fund loan limit is the maximum loan limit calculated based on the housing provident fund account balance. The calculation formula is the provident fund account balance plus the provident fund monthly deposit amount multiplied by 2 multiplied by the statutory number of retirement months multiplied by 2;

3. The housing provident fund loan limit is calculated based on the maximum loan limit. If one person applies for a housing provident fund loan, the maximum loan amount is 500,000 yuan. If two or more people purchase the same house and apply for a housing provident fund loan, the maximum loan amount is 800,000 yuan;

4. Housing provident fund The total amount withdrawn cannot exceed the total house payment;

5. After paying off the housing provident fund loan, you can use the provident fund to purchase a house. Whether before or after marriage, if one of the spouses has applied for a provident fund loan, there will be records on the system. If the provident fund loan for the first home has been paid off, and the couple uses the provident fund loan to buy a house again, it will still be regarded as the first home purchase.

Legal basis: Article 16 of the "Housing Provident Fund Management Regulations"

The monthly payment and deposit amount of the employee's housing provident fund is the employee's average monthly salary in the previous year multiplied by the employee's housing provident fund payment. The monthly payment and deposit amount of the housing provident fund paid by the unit for its employees is the employee's average monthly salary in the previous year multiplied by the unit's housing provident fund payment ratio.

Article 17

New employees who join the workforce will start to pay housing provident fund from the second month they join the workforce. The monthly payment amount is the employee’s monthly salary multiplied by the employee’s housing fund. Provident Fund Contribution Ratio Newly transferred employees from the unit will pay housing provident fund from the date the transferred unit pays their wages. The monthly deposit amount is the employee's monthly salary multiplied by the employee's housing provident fund contribution ratio.

Article 18

The contribution ratio of employees and units to the housing provident fund shall not be less than 5% of the employees’ average monthly salary in the previous year; in cities with conditions, it can Appropriately increase the deposit ratio. The specific contribution ratio shall be formulated by the Housing Provident Fund Management Committee, and shall be submitted to the people's government of the province, autonomous region, or municipality directly under the Central Government for approval after review by the people's government at the same level.

Article 19

The housing provident fund paid by individual employees shall be withheld and paid by the employer from their wages every month.