The amount of portfolio loans can be chosen by yourself, as long as it is the final monthly payment that individuals can afford. Generally speaking, the loan amount of provident fund loans is limited, and the interest rate of provident fund loans is much lower than that of commercial loans, so it is most cost-effective to make up the provident fund loans first, and then make up the insufficient part with commercial loans. However, the actual treatment should be based on your own needs.

What is a portfolio loan?

When buyers apply for bank loans to buy a house, some salespeople will suggest that buyers buy a house through portfolio loans, but many buyers are not clear about what portfolio loans are. In fact, portfolio loan means that buyers mainly meet the conditions of provident fund loans, so buyers can apply for provident fund loans and commercial loans at the same time, that is, borrowers can use the purchased urban self-occupied housing (or other guarantee methods recognized by banks) as collateral, and apply for personal housing provident fund loans and personal housing commercial loans from banks at the same time.

How to apply for a portfolio loan

1, sign the contract

After obtaining the personal housing loan quota of the provident fund, the borrower applies for a portfolio loan from the loan bank with the Notice of Entrustment of Personal Housing Loan of the Provident Fund issued by the Provident Fund Management Department. After receiving the notice that the bank agrees to the loan, the customer needs to sign a loan contract and a guarantee contract with the loan bank respectively for the provident fund personal housing loan and the self-owned account housing loan, and notarize the contract as appropriate.

2. Handle mortgage loans and insurance.

After the signing of this contract, necessary procedures such as mortgage registration and insurance shall be handled in accordance with national and local laws and regulations. Mortgage registration and insurance fees shall be borne by the borrower, and the original insurance policy shall be kept by the loan bank during the mortgage period.

Step 3 open an account

Customers who choose to entrust deduction for repayment should open a special savings passbook account, savings card or credit card account in the loan bank. At the same time, the seller shall open a special deposit account in the loan bank.

4. Sign the repayment agreement

If the borrower uses a savings card to withhold repayment, it shall go to the savings outlets to handle the repayment withholding savings card and sign a withholding agreement with the loan bank, and the entrusting unit shall sign an agreement with the loan bank.

5. Bank remittance

The borrower shall go to the loan bank to handle the payment formalities according to the time agreed with the loan bank, and the loan bank will transfer the money to the house selling unit, and the borrower will withdraw it according to the loan contract.

6. Repay on time

The borrower shall repay the provident fund personal housing loan and self-owned bank housing loan on schedule according to the repayment plan and repayment method agreed in the loan contract. At present, there are two repayment methods: entrusted bank deduction and counter repayment.