Commercial loans can be converted into provident fund loans. Qualified customers can go to the bank to redeem the property and cancel the mortgage, and then go to the provident fund center to register the mortgage. Because the business-to-public transfer can only be converted into a pure provident fund, if the amount is not enough, the user will need to repay part of the loan in advance. Or the customer pays a deposit and uses another house as collateral.

Conditions for converting commercial loans into provident fund loans

1. No bad credit record, normal reversion of commercial loans for more than 1 year;

2. If all applications have been withdrawn Provident fund must be paid normally for more than 1 year;

3. Houses that undergo "business-to-public transfer" must have registration records and legal residential development projects;

4 . To convert a commercial loan to a provident fund loan, you must obtain the consent of the original commercial loan bank;

5. If the house to be converted from a business to a public company has the same property rights, you need to sign a certificate of consent to the mortgage. And apply for notarization;

6. If the marital status of the couple changes, relevant certificates and a notarized certificate of legal ownership of the property must be provided.

How to calculate the difference between a commercial loan and a provident fund loan?

As for the difference between a commercial loan and a provident fund loan, it is actually the remaining unpaid loan of the commercial loan minus the amount of the commercial-to-public loan applied for. , the resulting amount is the difference.

After the customer successfully applies for the transfer of the business to a public company, he must first pay off the balance (which must be settled with his own funds deposited into a special deposit account opened by the transfer bank) and apply for relevant guarantees. After completing the procedures, the loan will be approved smoothly. Everyone also needs to note that the applied business-to-public loan amount must be within the maximum housing provident fund loan amount stipulated by the local housing provident fund management center and the original commercial loan balance before the business-to-public business can be accepted.

Of course, in some areas, after employees apply for business-to-public loans and get approval from the provident fund management center, they will require employees to use self-raised funds to pay off the business loans in advance and go through the guarantee procedures, and then the center will issue the business-to-public loans. public loan. Since the regulations may differ in various regions, customers who are unclear are advised to call the staff of the local housing provident fund management center directly (the national unified hotline is: 12329).