How much housing loan can 800 provident fund cover? Are there any limits on the amount of deductions?

If the borrower has only 800 yuan left in his provident fund account after applying for a mortgage, then only 700 yuan can be used to offset the mortgage amount when repaying the loan. The system will automatically debit the borrower's bank card for the remaining monthly payment. The user's provident fund account balance must retain 100 yuan.

In addition, there is no limit to the amount of housing provident fund that can be deducted from housing loans. As long as the provident fund account balance is sufficient, the entire mortgage loan for the month can be deducted from the provident fund account. The borrower's provident fund balance will continue to increase as the company pays monthly, so the actual deductible months will exceed 5 months.

If the borrower's provident fund balance is only 800 yuan and he wants to apply for a provident fund loan, he can apply for a loan of up to 200,000 yuan. Generally, the amount of a provident fund loan is 10 to 20 times the provident fund balance. The loan balance that can be obtained with a provident fund balance of 800 yuan is between 8,000 yuan and 16,000 yuan.

If the borrower is using the provident fund of his spouse, the spouse can go to the local provident fund management center to handle hedging with valid documents such as personal ID card and marriage certificate. After the application is successful, the balance in the spouse's provident fund account will be automatically transferred to repay the mortgage every month.

How much housing loan can 800 provident fund cover?

800 provident fund can cover housing loan of 100,000 yuan to 200,000 yuan. Generally, the provident fund loan amount is 10 to 20 times the provident fund balance. Logically speaking, the loan balance that can be obtained with a provident fund balance of 800 yuan is between 8,000 yuan and 16,000 yuan. However, the state stipulates that if the balance of the provident fund is less than 10,000 yuan, the loan will be calculated as 10,000 yuan. That is to say, although your provident fund balance is only 800 yuan, it is actually calculated based on 10,000 yuan, and the amount you can borrow is approximately between 100,000 yuan and 200,000 yuan.

Take Wuhan City as an example:

1. If you apply for a provident fund loan to buy your first home, the maximum loan amount is 600,000 yuan, and the building area of ??the purchased house is less than 144 square meters. The maximum loan ratio does not exceed 80% of the total price of the house, and the minimum down payment ratio is reduced to 20%; if the building area is more than 144 square meters, the maximum loan ratio does not exceed 70% of the total price of the house purchased, and the minimum down payment ratio is 30% of the total price.

2. If you apply for a provident fund loan to buy a second house and meet the requirements of Wuhan city employee families that the existing housing construction area is less than 144 square meters, the maximum loan amount is 600,000 yuan, deducting the first used housing provident fund loan. After the difference, the maximum loan ratio shall not exceed 40% of the total price of the house. If the building area of ??the purchased house is less than 144 square meters, the minimum down payment ratio is reduced to 20%. If the building area is more than 144 square meters, the minimum down payment ratio will be reduced. It is 30% of the total price of the house.

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The housing provident fund refers to state agencies and institutions, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises and institutions, private non-profit Enterprises, social groups and their employees make equal contributions to long-term housing savings. Starting from July 1, 2017, all housing provident fund management centers across the country will handle the off-site transfer and continuation of housing provident funds through the platform in accordance with the requirements of the "National Operating Procedures for the Transfer and Continuation of Housing Provident Funds in Other Places" issued by the Ministry of Housing and Urban-Rural Development. On July 1, 2021, the People's Republic of China and the Ministry of Housing and Urban-Rural Development determined the national housing provident fund service logo and decided to activate it from now on.

How much can you borrow if you pay 800 yuan per month to the provident fund?

Generally, the loan amount of the provident fund ranges from 10 to 20 times the balance of the provident fund. Under normal circumstances, the balance that can be loaned with a provident fund balance of 800 yuan is between 8,000 yuan and 16,000 yuan.

However, the state has other regulations. If the balance of the provident fund is less than 10,000 yuan, the loan will be calculated based on 10,000 yuan. Even if the provident fund balance is only 800 yuan, it is actually calculated based on 10,000 yuan, and the amount of loan that can be obtained is approximately between 100,000 yuan and 200,000 yuan.

The provident fund loan limit refers to the maximum loan amount that an individual can apply for when using a provident fund loan.

Only employees who have a local urban permanent residence, have established a housing provident fund system for more than 6 months, and have paid housing provident funds as required, can enjoy provident fund loans if they have insufficient funds to purchase and build a house or renovate or overhaul their own housing.

The calculation of provident fund loan amount is determined based on four conditions: loan repayment ability, house price ratio, housing provident fund account balance and maximum loan limit. The minimum value calculated from the four conditions is the maximum loan amount that the borrower can amount.

Loan conditions

The total provident fund deposited by the borrower and his/her family members must reach at least 20% of the expenditure on newly purchased (overhauled) housing; the borrower must have stable economic income and repayment ability of the principal and interest;

The borrower agrees to handle insurance for housing mortgage registration; provides a guarantee method agreed by the local housing fund management center and its affiliated sub-center; and submits relevant documents required by the bank, such as a house purchase contract or a house advance notice. Sales contract, property ownership certificate, land use certificate, provident fund deposit certificate, etc.

Loan amount

The provident fund loan amount is calculated as follows:

The loan amount calculated based on the loan repayment ability

The calculation formula is:< /p>

[(The borrower’s total monthly salary and the borrower’s unit’s monthly housing provident fund deposit amount) × loan repayment ability coefficient – ??the total monthly repayment of the borrower’s existing loan] × loan term (months).

According to the spouse’s quota

[(the total monthly salary of both spouses, the monthly housing provident fund payment amount of the employer where both spouses work) × the loan repayment ability coefficient - the monthly repayment of existing loans of both spouses Total amount] × loan term (months).

The loan repayment ability coefficient is 40%

Total monthly salary = monthly provident fund payment ÷ (unit contribution ratio individual contribution ratio).

The loan amount calculated based on the house price

The calculation formula is: loan amount = house price × loan ratio

The loan amount calculated based on the maximum loan limit< /p>

If you use your own housing provident fund to apply for a housing provident fund loan, the maximum loan limit is 400,000 yuan; if you use your spouse’s housing provident fund to apply for a housing provident fund loan, the maximum loan limit is 600,000 yuan.

If you use your own housing provident fund to apply for a housing provident fund loan, and you make a normal deposit of supplementary housing provident fund when applying for a loan, the maximum loan limit is 500,000 yuan; at the same time, you use your spouse’s housing provident fund to apply for a housing provident fund loan, and when you apply for a loan, you apply for a housing provident fund loan. If you or your spouse make regular contributions to the supplementary housing provident fund, the maximum loan limit is 700,000 yuan.