The fixed number of years of provident fund and commercial loan can be different. Under normal circumstances, the term of provident fund loans will be shorter. If you buy a new house or a second new house within five years, you can borrow for 25-30 years, and other second-hand houses can borrow for 5- 15 years according to the age of the house, and the longest period is not more than 5 years after retirement. The term of commercial loans can generally be longer, up to 30 years. The term of each loan is determined by the commercial bank through consultation with the borrower according to the borrower's age, working years and repayment ability.

What are the conditions for buying a portfolio loan?

1. The portfolio lender applying for house purchase has legal status;

2. The portfolio lenders who apply for house purchase are employees who pay the housing provident fund in full and on time;

3. The portfolio lender applying for house purchase has stable economic income, and the portfolio lender applying for house purchase has good credit and the ability to repay the loan principal and interest;

4. The portfolio lender applying for house purchase has a legal and effective house purchase and overhaul contract and other supporting documents required by the loan enterprise bank;

5. The portfolio lender applying for house purchase has self-raised funds of more than 20% of the house price, and guarantees that this money will be used to pay the down payment of the house purchased;

6. There is something mortgaged or pledged with the approval of the loan enterprise bank, or a legal person, other economic institution or natural person with sufficient ability to repay the loan as a guarantor;

7. The portfolio lender applying for house purchase meets the loan conditions stipulated by the local provident fund management.

What is the process of mortgage portfolio loan?

1. The portfolio lender applying for house purchase submits a written application to the local housing provident fund management department and submits relevant materials; After obtaining the amount of individual housing loan from the housing provident fund, the portfolio lender who applies for the house purchase applies for the portfolio loan from the loan enterprise bank with the Notice of Entrustment of Individual Housing Loan from the provident fund management department. After the application is approved, it is necessary to sign a loan contract and a guarantee contract with the loan enterprise bank and notarize it.

2. After signing the contract, go through the necessary formalities such as mortgage registration insurance at the loan bank, pay the mortgage registration and insurance fees, and hand over the original insurance policy to the loan bank for safekeeping; Customers who choose to entrust deduction for repayment open a special savings passbook account for repayment at the loan bank. At the same time, the seller shall open a special deposit account in the loan enterprise bank.

3. The lender applying for housing portfolio fills in the deposit certificate of housing portfolio loan at the bank accounting front desk, and then the loan enterprise bank directly transfers the loan to the borrower's deposit account according to the contract.