Many people think that provident fund is a welfare policy for employees to buy a house, which can be used to pay the down payment for buying a house. Actually, it is not, because the provident fund can only be withdrawn after it is used first, that is, the purchaser can only go through the withdrawal procedures after providing the relevant proof materials for the purchase. You can borrow money from your family or friends to pay the down payment, and then use the extracted provident fund to pay back the money.
The procedures and conditions for purchasing houses with provident fund loans are as follows:
First, the housing provident fund loan process:
1, first trial:
The housing provident fund management center conducts a preliminary examination of the materials submitted by the applicant, including the applicant's qualification, loan amount, loan period, etc. After passing the preliminary examination, the center will issue the Notice of Collateral Review and Evaluation.
2. Assessment:
The applicant holds the Notice of Collateral Examination and Evaluation to the appraisal institution designated by the Center to appraise the value of the purchased house. Affordable housing does not need to be evaluated.
3. Review:
The applicant holds the evaluation report issued by the evaluation agency and the preliminary examination materials required by the center to the center for loan review. Meet the conditions, the center issued the "housing provident fund management center entrusted loan investigation notice".
4. Guarantee procedures:
The applicant holds the "Notice of Investigation on Entrusted Loan Guaranteed by Housing Provident Fund Management Center" and goes through the guarantee formalities according to the guarantee method he chooses. If mortgage+guarantee is selected, the guarantor shall issue a written guarantee; If you choose mortgage+insurance or third-party guarantee, you should apply for insurance in an insurance company or go through the formalities of entrusted guarantee in a guarantee institution.
5. Sign a loan contract.
6, housing fund management center and the entrusted bank signed a loan agreement.
7. The borrower directly submits a loan application to the housing provident fund management center, and the entrusted industry can summarize the borrower's application materials as needed and submit them to the housing provident fund management center for approval.
8 housing fund management center approved the amount, duration and interest rate of each loan, and signed an entrusted loan contract with the entrusted bank.
9. According to the entrusted loan contract, the entrusted bank shall go through the loan procedures after signing the Mortgage Contract for Housing Provident Fund Entrusted Loan, the Pledge Contract for Housing Provident Fund Entrusted Loan and the Guarantee Contract for Housing Provident Fund Entrusted Loan with the borrower respectively.
10. The entrusted bank directly transfers the loan to the designated account opened by the seller in the entrusted bank.
Second, the housing provident fund loan conditions
1. Individual urban workers and their units must pay the housing accumulation fund continuously for one year.
2. If the borrower purchases a commercial house, it must have self-raised funds of not less than 30% of the total house price as the down payment.
3. The borrower has stable economic income, good credit and the ability to repay the principal and interest of the loan.
4. If both husband and wife normally pay the housing provident fund in full, only one party is allowed to apply for a housing provident fund loan.
5, a family can only apply for a housing provident fund loan to buy a house at the same time.
6. The lender must have permanent residence or valid residence status in the town of this province (city).
7. Agree to use the purchased house as collateral.
The use of provident fund to buy a house needs to meet certain conditions and is subject to some restrictions. First of all, buyers need to have enough deposit records in the provident fund management department and need to meet the local purchase qualifications. Secondly, according to the policies of different regions, buyers may need to meet certain age requirements, marital status, purchase purposes and other conditions. In addition, when using the provident fund to pay the down payment, buyers generally need to meet certain proportion requirements, usually a certain proportion of the total house price. At the same time, buyers also need to pay attention to the relevant provisions of provident fund loans, such as loan amount and repayment period. In short, the use of provident fund to buy a house needs to meet a series of conditions and is subject to certain restrictions. Property buyers should understand local policies and go through relevant procedures as required.
Legal basis:
Measures for the administration of commercial housing sales:
Chapter V Delivery Article 30 A real estate development enterprise shall deliver the commercial housing that meets the delivery conditions to the buyer on schedule according to the contract. If the delivery is not made on schedule, the real estate development enterprise shall bear the liability for breach of contract. If the delivery needs to be postponed due to force majeure or other reasons agreed by the parties to the contract, the real estate development enterprise shall promptly inform the buyer.