Combined loans refer to borrowers who meet the conditions for personal housing commercial loans and also deposit housing provident funds. They can also apply for personal housing provident fund loans while applying for personal housing commercial loans, that is, the borrower can The purchased urban self-occupied housing in this city (or other bank-approved guarantee methods) can be used as a mortgage to apply for a personal housing provident fund loan and a personal housing commercial loan from the bank at the same time.

Two principles should be followed when choosing a combination loan

1. The principle of the optimal combination of combination loans. If a home buyer chooses a combination loan, they should have as many provident fund loans as possible and commercial loans As little as possible. Because the interest rate of provident fund loans is much more favorable than that of commercial loans, you can save more interest;

2. The loose principle of down payment. The down payment cannot use up all the cash on hand, so as not to affect the payment of the house payment due to loan approval, but this also needs to be combined with personal affordability.

What are the advantages and disadvantages of combination loans

1. The advantages of combination loans are: the interest rate of the loan is relatively low. Because it is combined with a provident fund loan, the interest rate of the loan is definitely lower than that of a pure commercial loan, but it is definitely higher than that of a provident fund loan.

2. The disadvantages of combination loans are: it is complicated to apply for. Two kinds of loans need to be processed at the same time and double review is carried out, so the waiting time for the loan is relatively long.

The advantages and disadvantages of combination loans are obvious. If you are in a hurry to use money, it is best to take a commercial loan. If you are not in a hurry, and the loan amount is definitely sufficient with a provident fund loan, try to use a provident fund loan. If you repay If it’s not enough, use a portfolio loan.

How to repay a mortgage portfolio loan

Consolidated loans cannot be repaid at the same time because the two loan types use different repayment methods. Two separate accounts need to be set up and the two portions are lent separately. The provident fund loan part adopts the free repayment method, and the commercial loan part adopts the repayment method confirmed by the commercial bank.

1. The provident fund part can be repaid freely, that is to say, we can set a lower repayment amount every month, but the monthly supply must be greater than this amount. If you have more money in your provident fund account, you can sign up for the monthly transfer repayment service. If you repay the monthly repayments, you will pay them back through your provident fund account first. If your account is insufficient, your bank's repayment discount will ease your burden.

2. The commercial loan part is the same amount of principal and equal principal and interest. Business loans can automatically deduct funds from the bonded repayment account every month, so the insurance business is to deposit enough funds in your repayment account every month. At the same time, in combination loans, the loan terms of provident fund loans and commercial loans must be consistent.