What are the benefits of buying a house with housing provident fund? With the rise of loans to buy a house, it is not so difficult to buy a house, especially using personal housing provident fund loans to buy a house has many advantages over ordinary commercial loans. Then, what are the benefits of using housing provident fund loans to buy a house?
1. The interest rate of provident fund loans is lower than other commercial loans.
Compared with commercial loans, provident fund loans can save a lot of interest with the same loan amount and repayment period.
How much money can you save? Because interest rates are different in different periods and regions, this is not fixed. Generally speaking, the interest rate of housing provident fund loans is about 2 percentage points lower than the benchmark interest rate of housing loans of commercial banks. This percentage point is very large. Of course, this is only a simple calculation, and the difference is actually greater.
2. The proportion of provident fund loans is high and the term is long.
Commercial loans can be up to 70% of the house price, and buyers are under great pressure to make down payment. Housing provident fund loans can be up to 80% of the house price, and the housing provident fund loans have a long term and the corresponding monthly repayment amount is small. Commercial loans can be loaned for up to 25 years, most second-hand houses can be loaned for up to 20 years, and provident fund loans can be loaned for up to 30 years, so the monthly supply pressure is relatively reduced.
3. Provident fund loan repayment is more flexible and convenient.
Buying a house with provident fund loans is also more convenient and flexible than commercial loans. Lenders can decide their own monthly repayment amount, but on the premise that the monthly repayment amount is not lower than the minimum repayment amount stipulated by the bank, lenders can make a reasonable and feasible repayment plan according to their own economic strength. Provident fund loans can be repaid in advance, and lenders can repay part or all of the loan principal and interest in advance without paying liquidated damages.
4. Provident fund loans have fewer restrictions on buying houses.
At present, major commercial banks have many restrictions on second-hand housing loans. It is difficult for banks to apply for housing loans for second-hand houses with excessive housing age, poor real estate area and poor property change ability. However, regarding the purchase of houses with provident fund loans, banks have less restrictions on the age of second-hand houses. You can apply for provident fund loans if the age of second-hand houses and the total number of housing loans do not exceed 50 years.
5. The interest rate of provident fund loans is much lower than that of commercial loans in the same period.
Housing provident fund loans are widely available, and bank accounts of developers with less age restrictions on second-hand houses are not restricted. The borrower can freely choose to repay the loan to the bank, repay the loan in advance, and can choose to repay the loan in part or in whole. After partial repayment without reservation, they can shorten the repayment period, keep the repayment period unchanged, reduce the repayment period, extend the repayment period and increase the repayment amount.