When taking out a loan to buy a house, due to some reasons, many friends are unable to choose a single loan method. So what is a portfolio loan? How should we apply for a portfolio loan? Why apply for a portfolio loan? Let’s take a look.
1. What is a portfolio loan?
The so-called combination loan means that a borrower who meets the conditions for a personal housing commercial loan and also deposits housing provident funds can apply for a personal housing provident fund loan while applying for a personal housing commercial loan, that is, the borrower Using the purchased urban self-occupied housing in this city (or other bank-approved guarantee methods) as collateral, you can apply for a personal housing provident fund loan and a personal housing commercial loan from the bank at the same time.
That is, provident fund loans and commercial loans are used at the same time. They are generally used when personal loans exceed the local provident fund loan limit. For example, to purchase a high-end residence, a loan of 500,000 yuan is required, and the local provident fund management center It is stipulated that the maximum loan provided by the provident fund is 400,000 yuan.
In this case, the remaining 100,000 yuan will be used as a commercial loan, and the interest will not be eligible for provident fund loan interest.
2. Application conditions for portfolio loans
1. Have legal status;
2. Employees who have paid housing provident funds in full and on time;
3. Have stable economic income, good credit, and the ability to repay the principal and interest of the loan;
4. Have legal and valid contracts and agreements for purchasing and overhauling housing, as well as other requirements required by the lending bank Proof documents;
5. Have self-raised funds of more than RMB 20 of the total price of the purchased (overhauled) house, and guarantee that they will be used to pay the down payment of the purchased (overhauled) house;
6. Mortgage or pledge of assets recognized by the lending bank, or/and a legal person, other economic organization or natural person with sufficient repayment capacity as a guarantor;
7. Loans that comply with the regulations of the local provident fund management department Conditions;
8. Other conditions stipulated by the lending bank.
3. How to apply for a portfolio loan
If you plan to apply for a portfolio loan, the initial review procedures are the same as those for provident fund loans. After passing the preliminary review, when the borrower goes to the bank to handle other procedures for a provident fund loan, he must fill in the loan application form for the commercial loan part and go through the relevant procedures in accordance with the bank's requirements.
After the two parts of the loan are approved, they will be allocated by the bank to the account of the selling unit at the same time. In combination loans, the loan terms, borrowing dates and repayment dates of provident fund loans and commercial loans are the same, but with different interest rates.
(The above answer was published on 2015-12-30, please refer to the actual relevant current house purchase policies)
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