1. Can the housing provident fund be renovated by loan?
House decoration can use provident fund loan, which is another form besides provident fund loan in mortgage to buy a house. The provident fund used for decoration must meet the following conditions: Generally speaking, the area of the house to be renovated is more than 70 square meters, and the age of the house is within 15 years.
Second, the housing provident fund renovation loan conditions
1. The lender must have permanent residence or valid residence status in this city;
2. Push forward from the date of application, and pay the housing provident fund in full for more than 2 months (if both husband and wife pay the provident fund, only one person is allowed to borrow).
3. There are contracts (agreements) and related materials for purchasing houses, building houses and overhauling self-occupied houses according to law.
4. There is a certain proportion of self-raised funds. For the purchase of commercial housing and affordable housing, the self-raised funds shall not be less than 20% of the total house price (for the purchase of second-hand houses or the construction and overhaul of houses, the self-raised funds shall not be less than 30% of the total house price), and the self-raised funds here may be the receipt of the house payment (down payment) not less than 20% of the total house price.
5 have a stable economic income and the ability to repay the principal and interest of the loan (monthly income certificate issued by the unit).
6. Agree to use the purchased house or the house with complete property rights or the house of a third party as collateral, or use securities or bank time deposit certificates recognized by the loan bank as collateral, or provide guarantees by legal persons, organizations or third parties recognized by the loan bank.
Three, housing provident fund renovation loan application method
When applying for a loan, the borrower shall prepare the following materials:
1, identification of the borrower and spouse (ID card, household registration book, marriage certificate or divorce certificate, court judgment, ruling, unmarried or divorce certificate issued by the unit, etc.). );
2. Proof of stable economic income (proof of unit wage income, etc.). );
3, housing provident fund deposit certificate;
4. The purchase contract and agreement signed with the selling unit (approved by the land planning department of self-built housing);
5. I and my spouse * * * fill in the loan application approval form;
6. There must be a receipt for the house payment (down payment) of not less than 20% of the total house payment (self-financing proof of not less than 30% of the total house payment is required for the purchase of private houses, construction and overhaul of self-occupied houses);
7. List of pledge rights and ownership certificate issued by the borrower (or written commitment issued by the guarantor agreeing to provide guarantee). Four, the housing provident fund loan period, interest rate and limit
The loan period of individual housing provident fund is 1 to 20 years. But in principle, it shall not exceed the period from the date of loan issuance to the national legal retirement age (60 years old for men and 55 years old for women).
The calculation formula is: the loan period, the statutory retirement age of the borrower and the current age of the borrower (one year old).
The loan interest rate of individual housing provident fund is subject to the preferential interest rate stipulated by the state, which is lower than the bank mortgage interest rate by 1 percentage point on average. The loan interest rate for 15 years is: monthly interest rate 3.0, annual interest rate 3.6%; The interest rate of loans with a term of more than 5 years is: 3.375 per month and 4.05% per year. In case of legal interest rate adjustment, the corresponding interest rate grade at the beginning of next year will be implemented.
The maximum amount of personal housing provident fund loans generally does not exceed 200 thousand yuan. More than 200,000 yuan shall be examined and approved by the central loan review committee. The loan amount is generally determined by the proportion that the borrower's monthly repayment amount does not exceed 50% of his family income (but the conditions can be appropriately relaxed if he has strong repayment ability).