Housing provident fund loan is essentially a kind of entrusted loan. Provident fund loans are different from most commercial loans, and their essence is entrusted loans. The source of funds is the provident fund deposits paid by units and individuals.
What's the difference between provident fund loans and bank loans?
1 Different loan targets: provident fund loans are for employees who have paid housing provident fund, while bank mortgage loans are for everyone, and they can apply for housing loans if they meet the corresponding loan conditions.
The loan process is different: the provident fund loan is applied to the housing provident fund management center and then distributed through commercial banks, which are only the executing agencies. The bank's mortgage loan is applied to a commercial bank, and the decision is made by the bank.
3 loan interest rates are different: the interest rate of provident fund loans is generally lower than that of bank mortgage loans, because provident fund loans are policy loans, while bank mortgage loans are commercial loans that need profit.
4 Different sources of loans: the main source of funds for provident fund loans is the housing provident fund paid by the insured employees, while the source of funds for bank mortgage loans is deposits or other wealth management funds.
Bank loan refers to an economic behavior that banks lend funds to people in need of funds at a certain interest rate according to national policies and return them within the agreed time limit. Generally, you need a guarantee, a house mortgage, proof of income and good personal credit information before you can apply.
Application conditions
Borrower's requirements
1.1natural person aged 8-60 (Hong Kong, Macao, Taiwan, mainland China and foreigners are also allowed)
2 have a stable occupation, stable income and the ability to repay the principal and interest of the loan on schedule.
3. The borrower's actual age plus the loan application period shall not exceed 70 years old.
Information to be provided by the borrower
1. Couple ID card, household registration book/temporary residence permit, and foreigner household registration book.
Two copies of marriage certificate/divorce certificate or judgment/single certificate.
3 proof of income (format specified by the bank)
4. Copy of the business license of the unit (with official seal)
5. Credit certificate: including education certificate, other real estate, bank running water, large deposit certificate, etc.
6. If the borrower is an enterprise legal person, it must also provide the annual business license, tax registration certificate, organization code certificate, articles of association and financial statements.
Note: From May, 20 10, foreign residents who want to buy a house in Beijing must also provide the tax payment certificate of recent 1 year or the social security certificate of 1 year and other materials that can prove that they have worked in Beijing for 1 year.
The seller shall provide materials.
1. Husband and wife's ID card, household registration book and marriage certificate (marriage certificate or single certificate)
2. Real estate license
exceptional case
Information for foreigners to buy a house:
Taiwan Province Provincial People-Mainland Travel Pass (Taiwan Compatriot Certificate), household registration vine (which can prove marital status), approval form for purchasing houses in Beijing, and mortgage notarial certificate (entrusted to handle later house purchase and mortgage registration).
Hong Kong people-Hong Kong identity card, marriage certificate, mortgage notarized certificate (entrusted to handle the later house ownership certificate and mortgage registration)-Koreans-notarized translation of China passport, notarized translation of Chinese name, notarized translation of household registration book (which can prove marital status) and notarized mortgage notarized certificate (entrusted to handle the later house ownership certificate and mortgage registration).
Other nationalities-notarization of Chinese translation of passport, Chinese translation of name, Chinese translation of marriage certificate, notarization of mortgage (entrusted to handle the registration of house ownership and mortgage in the later period).
The seller shall provide the enterprise with the following information:
Legal person's ID card, original and photocopy of business license, organization code certificate, resolution of selling board of directors, articles of association, power of attorney, trustee's ID card, proof of collection account (the above materials must be stamped with official seal) and real estate license.
What's the difference between commercial loans and provident fund loans?
The differences between commercial loans and provident fund loans are as follows:
1, loan conditions: the commercial loan object is qualified through credit investigation; Provident fund loans must be paid by on-the-job employees and paid in full within a certain period of time.
2. Type of house: you can use provident fund loans to buy ordinary houses, but you can't use provident fund loans to buy commercial houses and villas; Commercial loans are not limited by the type of house.
3. The loan process is different from the examination and approval institution.
4. Different loan interest rates: the loan interest rate of provident fund is low, and the interest is low; The interest on commercial loans will be higher.
5. Different sources of funds.
This is the end of the introduction about the source of provident fund loans and who made the provident fund loans. I wonder if you have found the information you need?