Applying a combination loan is currently the first choice for many families who want to buy a house, but what are the conditions for applying for a combination loan to buy a second-hand house?

First of all, we must understand that personal housing portfolio loans generally refer to the collective name of housing provident fund loans and housing commercial loans. Specifically, if the housing provident fund loan amount applied for by an employee to purchase a house cannot meet the needs and is less than 80% of the purchased house price, he or she can apply for a personal housing commercial loan. The total amount of the two loans shall not exceed 80% of the house price. This is called a combination loan. . Only employees who have paid provident fund can apply for portfolio loans.

Combined loans are provident fund loans and commercial loans used at the same time. They are generally used when personal loans exceed the maximum limit of provident fund loans stipulated by the local government. If you want to buy a high-end residence, you need a loan of 500,000 yuan, and the local provident fund management center stipulates that the provident fund can provide a maximum loan of 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.

The loan targets employees who have paid housing provident funds in full and on time, and can be used to purchase various types of housing in cities and towns in mainland China. The commercial personal housing loan part of the loan items in the portfolio loan is subject to the personal housing loan interest rate. The provident fund loan portion is based on the individual housing provident fund loan interest rate.

Taking China Construction Bank as an example, applying for a China Construction Bank personal housing portfolio loan must comply with both the housing provident fund management department’s regulations on provident fund loans and the Construction Bank’s regulations on self-operated personal housing loans. The basic conditions that should be met are:

(1) Have legal status;

(2) Employees who have paid housing provident fund 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 supporting documents required by the lending bank;

(5) Have self-raised funds of more than 20% of the total price of the purchased (overhauled) house, and guarantee that it will be used to pay the down payment of the purchased (overhauled) house;

( 6) Have assets approved by the lending bank for mortgage or pledge, or/and a legal person, other economic organization or natural person with sufficient solvency as a guarantor;

(7) Meet the regulations of the local provident fund management department Borrowing conditions; (8) Other conditions stipulated by the lending bank.

(The above answers were published on 2015-08-18, please refer to the actual current relevant house purchase policies)

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