Users can't use the decoration loan to repay the mortgage. The renovation loan line is an exclusive line, which can only be used to pay renovation-related expenses, and users cannot directly get cash to repay their mortgages. Moreover, even if the mortgage is successfully repaid, because the loan funds are used illegally, it is easy to be monitored by the bank, and subsequent users may need to pay off all the decoration loans at one time.

Please use the loan funds strictly according to the purpose of decoration loan, and users should bear the consequences of illegal use.

loan limit

Maximum loan amount of housing provident fund

1. The loan amount shall not exceed the borrower's family repayment ability within the loan period.

Loan amount = the sum of the total monthly wages of the borrower and his spouse ×× the repayment ability coefficient of the employee × 12 (month )× the loan period. The repayment ability coefficient of employees is determined according to the different loan years, which is 35% in 1 to 10 and 40% in1to 30 years. Total monthly salary = monthly contribution of individual account housing provident fund ÷ (unit contribution rate+individual contribution rate)

For example, the monthly housing provident fund deposit in the borrower's housing provident fund account is 65,438+060 yuan, and the individual and unit deposit rates are 8%. The monthly housing provident fund deposit in the spouse's housing provident fund account is 286 yuan, and the individual and unit deposit rates are 65,438+03%, so the borrower's monthly salary is 65,438+060 ÷ (8%+8.

2. The loan amount shall not exceed a certain percentage of the house price.

The purchase of commercial housing, cooperative housing, affordable housing (Anjufang) and self-built housing, the loan amount does not exceed 70% of the house price or construction cost;

Now living in public houses, rebuilding houses and overhauling self-occupied houses, the loan amount shall not exceed 50% of the house price or house repair cost;

The loan amount for purchasing a private house shall not exceed 70% of the appraised value and transaction price of the house;

The loan amount for the replacement of public housing shall not exceed 50% of the compensation fee for the replacement of public housing assessed by the replacement enterprise, and if the property right of public housing is purchased at the same time, the loan amount shall not exceed 50% of the compensation fee for the replacement of public housing and the total selling price of public housing.

2015 On March 30th, the central bank issued a notice: households with 65,438+houses and outstanding mortgages applied for commercial loans to buy ordinary self-occupied houses again, and the minimum down payment ratio was reduced to not less than 40%; Use the provident fund loan to purchase the first set of ordinary self-occupied housing, and the minimum down payment ratio is 20%; Those who own 1 house and have settled their mortgage will apply for provident fund loans again to buy ordinary self-occupied houses, with a minimum down payment of 30%.

3, the loan amount does not exceed a certain multiple of the balance of housing provident fund deposit.

The loan amount shall not exceed 15 times of the balance of housing provident fund paid by both husband and wife of the borrower.

Can I apply for a bank loan for renovation?

Decoration can be done in the bank. Home improvement loan, also known as decoration loan, generally refers to a commercial loan launched by banks or other consumer finance companies, mainly personal credit loans for the purpose of family house decoration, that is, unsecured credit loans.

At present, the single loan amount of personal housing renovation loans issued by banks should not exceed 6,543.8 yuan +0.5 million yuan in principle (some loans also exceed 6,543.8 yuan +0.5 million yuan), and the loan amount should not exceed 50% of the total cost of renovation projects (for example, if renovation needs 300,000 yuan, the loan cost should not exceed 6,543.8 yuan +0.5 million yuan). As a financial service provided by decoration companies, decoration loans do provide more choices for consumers to spend less on decoration.

Extended data:

Personal decoration loans also need to pay attention to the following aspects:

1, personal decoration loans are loans issued by banks and borrowers to decorate their own houses. Decoration mainly refers to the decoration or processing of the house with decoration materials, and the house must be its own.

2. The decoration loan in the loan has special requirements, that is, it is necessary to sign relevant information such as housing renovation contract and budget with the decoration enterprise approved by the relevant departments. Some banks will require owners to have some financial support and start investment projects before using loans.

According to the regulations of the bank, personal consumption loans are generally not allowed to withdraw cash. The bank will transfer the money to the account of the decoration company.

4, the loan period is generally not more than 5 years.

References:

Decoration loan _ Baidu Encyclopedia

Loan decoration has gradually become the "standard" of home furnishing enterprises-Home-People's Network.

How to calculate the loan for hardcover rooms?

Hello, the loan for hardcover room is calculated according to your principal. For example, if the annual interest rate is 5%, the annual interest of a loan of 6,543,800 yuan+10,000 yuan will be 5,000 yuan. Specifically, it will be determined by the loan contract.

Can part of commercial loans and part of provident fund loans buy a house?

Hello, you can apply for some commercial loans and some provident fund loans to buy a house. Generally, this situation is that the amount of provident fund loans is not enough, plus some commercial loans, which are called portfolio loans in the industry.