What's the difference between provident fund loans and commercial loans?
First, the loan terms are different.
Creditor:
The object of commercial loans is a natural person who has passed the credit investigation and has repayment ability. Generally speaking, people with outstanding credibility and repayment ability can apply for commercial loans. In addition to the requirements of commercial loans, employees who have paid the provident fund must pay in full for a certain number of years before they can handle it.
Type of house:
To buy ordinary housing, you can use provident fund loans, buy commercial houses and villas, but you can't use provident fund loans; On the other hand, commercial loans are not limited by housing types.
Second, the loan amount is different.
Provident fund loans, with high constraints; Commercial loans are not limited by the amount. Taking Beijing as an example, the high amount of the first home loan is 6.5438+0.2 million yuan. As shown in the figure below, the loan will reach 3 million.
quota
Even if the loan amount calculated according to the provident fund loan formula is 2 million, due to the limit of the loan amount, the loan can only reach 654.38+0.2 million. As for commercial loans, as long as they have a good personal reputation, strong repayment ability and meet the loan conditions, they can borrow 3 million mortgages.
Third, the loan process and the examination and approval authority are different.
Provident fund loans need to make a request to the provident fund management first, and undertake the preliminary examination of the provident fund management. After passing the preliminary examination, the housing fund management department shall issue a certificate before handling the provident fund loan. The demand for provident fund mortgage has been audited by the provident fund management, and the decision is in the provident fund management, and the bank is only the executing agency.
After signing the house purchase contract, the borrower can directly provide relevant information to the relevant bank handling agency or the developer who signed the cooperation agreement with the bank, and then can handle the commercial loan. Commercial mortgage is mainly approved by banks, and the decision is made by banks.
The commercial loan process is simple, and the provident fund loan process is chaotic. It takes about 20 working days for commercial loans and 40 working days for provident fund loans.
Fourth, the loan interest rate is different.
interest rate
Provident fund loans are characterized by low interest rates and low interest rates. The interest of commercial loans is the surplus of commercial activities and belongs to the relevant personnel, while the interest of provident fund is used according to the policy and can only be used for the construction of affordable housing.
5. Different sources of funds.
Provident fund loan is a loan policy that all employees who pay housing provident fund can enjoy. At that time, the main body of provident fund loan management was the residential provident fund management in various cities, and the source of funds was the residential provident fund paid by individual employees and their units, which can be simply understood as "taking from the people and using it for the people". Commercial loans are one-time loans sold to banks and other financial institutions with real estate as collateral. The main body of commercial residential loan management is commercial banks, and the source of funds is the self-operated funds of commercial banks, that is, the deposits of residents or units absorbed by banks
Understand the difference between provident fund loans and commercial loans. When buying a house, you can choose the appropriate loan method according to your actual situation.