Buying a house with provident fund is really cheap, but it should also be calculated according to your loan time and loan amount.

According to the highest loan standard for buying a house by provident fund, the interest rate of general loans should be 3.75%, which is about half of that of commercial loans.

If calculated according to the same loan term, the loan amount is 500,000 yuan, and the possible interest of commercial loans is about 300,000 yuan, then the interest of buying a house with provident fund under the same circumstances is about13 ~140,000 yuan. Therefore, the standard of 500,000 yuan can be as cheap as16 ~170,000 yuan.

Provident fund purchase house

Extended reading:

How to buy a house with provident fund?

1. Submit a written application for housing provident fund loan to the housing provident fund management core, truthfully fill in the housing provident fund loan application form and submit the materials.

2. The core of housing provident fund management conducts a preliminary examination of the applicant's materials, including the applicant's qualification, loan amount and term. After the preliminary examination is passed, the management core issues the Notice of Collateral Examination and Evaluation. After receiving the notice of mortgage review and evaluation, the applicant will take the notice to the designated evaluation institution to evaluate the value of the house to be purchased. If you can afford it, there is no need to evaluate it.

3. The applicant has obtained the "Assessment Report, Assessment Report, Housing Fund Management Core Guarantee Entrusted Loan Investigation Notice" issued by the assessment agency. When handling the guarantee procedures, the applicant shall handle the guarantee procedures in accordance with the guarantee method of his choice with the Notice of Investigation on Entrusted Loan with Core Guarantee of Housing Fund Management.

4. Sign a loan contract. After the loan contract is approved, the applicant can sign the loan contract, and the whole process is completed. It should be noted that, under normal circumstances, applying for housing provident fund loans must meet the requirement that individual urban workers and their units must pay housing provident fund continuously for one year.

How much cheaper can the provident fund buy a house?

With regard to the same loan amount and repayment period, provident fund loans can save tens of thousands of yuan in interest than commercial loans. Take a 400,000 house as an example, with a loan of 280,000. If the term of the commercial loan is 25 years, the monthly repayment is 172 1 yuan, and the total repayment for 25 years is 5 16300 yuan, and the total interest paid is as high as 236,300 yuan. It is also a provident fund loan with a fixed term of 25 years, with a total interest of184,400 yuan.

Housing accumulation fund refers to the long-term housing savings paid by state organs, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions, private non-enterprise units, social organizations and their employees.

The definition of housing provident fund includes the following five aspects:

(1) The housing accumulation fund is only established in cities and towns, and the housing accumulation fund system is not established in rural areas.

(2) Only on-the-job employees can establish the housing accumulation fund system. Unemployed urban residents and retired workers do not implement the housing provident fund system.

(3) The housing accumulation fund consists of two parts, one part is paid by the employee's unit, and the other part is paid by the employee. After the employee's individual deposit is withheld by the unit, it will be deposited into the individual account of the housing provident fund together with the unit deposit.

(4) The long-term nature of housing provident fund deposit. Once the housing provident fund system is established, employees must be paid continuously in accordance with the regulations during their employment, and shall not be suspended or interrupted except for employees' retirement or other circumstances stipulated in the Regulations on the Administration of Housing Provident Fund. It embodies the stability, unity, standardization and compulsion of housing provident fund.

(5) Housing accumulation fund is a personal housing savings fund specially used by employees for housing consumption expenditure, which has two characteristics of accumulation and specificity.

Second, housing provident fund loans are more cost-effective than other loan methods.

At present, there are mainly the following types of housing provident fund loans: individual housing commercial loans and individual housing portfolio loans.

1, housing provident fund loans refer to housing mortgage loans issued by local housing provident fund management centers to employees who have paid housing provident fund in their own units and entrusted commercial banks to employees and retired employees who have paid housing provident fund during their employment. For residents who have participated in the housing provident fund deposit, loans to buy a house and low-interest loans for housing provident fund should be the first choice. Housing provident fund loans have the nature of policy subsidies, and the loan interest rate is very low, which is not only lower than the loan interest rate of commercial banks in the same period, but also lower than the deposit interest rate of commercial banks in the same period. In other words, there is a spread between the mortgage interest rate of the housing provident fund and the bank deposit interest rate. At the same time, when handling mortgage and insurance related procedures, the housing provident fund loan will be charged by half.

2. Personal housing commercial loan is a kind of loan that China citizens apply to the bank for the purchase of commercial housing, and it is a self-operated loan issued by the bank with its credit funds. Specifically, a natural person with full capacity for civil conduct applies to the bank for a commercial housing loan as a loan repayment guarantee when purchasing a self-occupied house in a town in this city, with the purchased property housing (or other guarantee methods recognized by the bank) as collateral.

3. Individual housing portfolio loans refer to borrowers who meet the conditions of individual housing commercial loans. While handling individual housing commercial loans, they can apply for individual housing provident fund loans. Borrowers can apply for individual housing provident fund loans and individual housing commercial loans at the same time with the purchased urban self-occupied housing (or other bank-approved guarantee methods) as collateral.

4.20 16 benchmark interest rate for mortgage includes benchmark interest rate for commercial loans and benchmark interest rate for provident fund loans. The benchmark interest rate for 20 16 commercial loans is 4.90% for five years and above, 4.75% for one to five years (including five years) and 4.35% for one year (including one year). 20 16 the benchmark interest rate for housing provident fund loans is 2.75% for five years and below, and 3.25% for five years and above. With the same loan amount and the same repayment time, the interest rate of provident fund is about 2% lower than that of bank loans.

What is the lowest interest rate for buying a house loan?

4. 1%。 According to the Notice on Adjusting Differentiated Housing Credit Policies issued by the Central Bank and the China Banking Regulatory Commission, the lower limit of the interest rate of the first home commercial personal housing loan is adjusted to be no less than the quoted interest rate in the loan market minus 20 basis points, that is, the minimum mortgage interest rate can reach 4. 1%.

How to borrow money to buy a house is the most cost-effective

Many people choose to borrow money to buy a house because of the bad economy, also to relieve their financial pressure. After all, there are not many families who can pay the house price in one lump sum, but there are many ways to borrow money. So how to buy a house with a loan is the most cost-effective? Let's take a closer look with Bian Xiao.

How to borrow money to buy a house is the most cost-effective

First, try to use provident fund loans.

1, try to use provident fund loans. Because from the current loan interest rate in the market, the interest rate of commercial loans will be higher than the interest rate of provident fund loans.

2. If the loan interest rate for more than five years is taken as an example, the interest rate for commercial loans is 6.55%, while the interest rate for provident fund loans is 4.5%, which shows that the interest rate for provident fund loans is about 2 points lower than that for commercial loans.

3. If the loan amount is 500,000 yuan and the loan term is 20 years, it will be calculated according to the repayment method in the average capital. If you use a commercial loan, you need to pay interest of about 328,864.59 yuan. If you use the provident fund loan, you only need to pay interest of about 225,937.48 yuan. It can be seen that provident fund loans will pay about 654.38+10,000 yuan less interest than commercial loans.

4. In addition, if the amount of provident fund loans for buyers is not enough to pay the purchase price, buyers can also take the form of a combination of provident fund and commercial loans, which will be more cost-effective than commercial loans.

Second, choose the repayment method in average capital.

1. There are two repayment methods for housing loans: equal principal repayment and equal principal and interest repayment.

(1) equal principal repayment.

When the lender starts to repay the loan every month, the monthly repayment burden is a bit heavy. However, with the passage of time, the repayment pressure of the lender will gradually ease, because the total interest of the loan is relatively low.

(2) Equal repayment of principal and interest.

The principal in the monthly repayment will gradually increase and the interest will gradually decrease. However, the lender's monthly payment remains unchanged.

2. If the commercial loan is 500,000 yuan and the loan term is 20 years, if the repayment method of the equal principal is adopted, then a * * needs to pay interest of about 328,864.59 yuan; If the repayment method of equal principal and interest is adopted, then a * * * needs to pay interest of about 398,223.63 yuan. Compared with the two, the former will pay about 69,000 yuan more interest, so it is more cost-effective to choose the repayment method in average capital.

The above is the most cost-effective introduction about how to borrow money to buy a house. If you want to buy a house with a mortgage loan, you'd better choose the repayment range that you can afford, and then try to shorten the loan period, so that the loan interest will be much less. I hope the above content will be helpful to everyone.

What is the general interest rate for housing loan?

There are two kinds of housing loans, commercial loans and personal provident fund loans. The interest rates are as follows:

1, the benchmark annual interest rate of commercial loans: 0-6 months (inclusive), and the annual interest rate: 4.35%; 6 months-1 year (inclusive), with an annual interest rate of 4.35%; 1-3 years (including 3 years), with annual interest rate of 4.75%; 3-5 years (including 5 years), with an annual interest rate of 4.75%; 5-30 years (including 30 years), with an annual interest rate of 4.90%;

2. Benchmark interest rate of personal provident fund loans: the benchmark interest rate of short-term loans for less than five years (including five years) is 2.75%; The benchmark interest rate for long-term loans over five years is 3.25%. However, the loan interest rate should be comprehensively evaluated according to the business variety, credit status and guarantee method applied by the lender.

The process of buying a house with a loan

1, to understand the credit situation.

First of all, if you want to borrow money to buy a house, buyers must first check whether the personal credit information meets the loan conditions, and the inspection-free house is also optimistic. When they are ready to buy, they find that their credit information is unqualified and they are in a passive position.

Step 2 know the bank

Before applying for a loan, buyers can go to the bank for consultation, asking about the loan application conditions, interest rate, approval time and lending time, and then comparing them and choosing a bank with high cost performance.

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