The provident fund paid by employed people every month ranges from hundreds to thousands of yuan. How to make the best use of this considerable amount of funds when buying a house is a question that many netizens are concerned about.

First of all, the main value of the housing provident fund is to purchase a personal residence. Since you have paid your personal housing provident fund, you naturally have the right to apply for a housing provident fund loan and enjoy the benefits of low-interest home purchase loans. The advantage of housing provident fund loans is that the interest rate is low, which is about 1 percentage point lower than that of commercial housing loans. The interest rate for commercial loans is 4.77% for a term of less than 5 years and 5.04% for a term of 5 to 30 years. The provident fund loan interest rate is 3.6% within 5 years and 4.05% from 5 to 30 years. So how to use provident funds when buying a house? Here are four tips you can learn from.

1: Cleverly raise the limit

Taking Beijing as an example, the maximum provident fund loan limit for an individual is 1.2 million yuan, and the provident fund loan limit for a couple is also 1.2 million yuan. If a couple If you purchase two houses before marriage, you can apply for a provident fund loan of up to 2.4 million yuan. If financial conditions permit, it is a good idea to purchase two houses before marriage, one to live in and one to rent, and use rent-to-support loans.

Two: Combination loan

If the amount of provident fund loan you applied for is not enough to pay the house price, you can apply for a personal housing commercial loan at the same time. This kind of loan that combines the two is called for portfolio loans. The capital source of the combination loan is partly entrusted by the Housing Fund Management Center and partly the bank's own funds. The maximum amount is 600,000 yuan and shall not exceed 80% of the total house price. The maximum loan term is 30 years.

Three: Optimization of loan period

In order to ensure the safety of loan funds and improve the efficiency of the use of funds, the approval procedures for the portfolio loan can be completed at one time, but the bank will not be responsible for the actual payment of the loan. It is not a one-time payment, but payment in installments according to the actual progress of housing construction. This model can organically combine ordinary home purchase loans with personal financial management. It can not only meet the need to pay developers according to the progress of housing construction, but also enable borrowers to plan and use funds in a more reasonable manner, thereby reducing interest payments and reducing home purchase costs.

Four: Repayment method combination

A loan combination can be divided into two or three "sub-loans". Once the loan term is up, each "sub-loan" can be selected Repay the loan principal and interest in different repayment methods. Based on the actual situation of uneven family annual income and monthly income, the borrower designs a loan principal and interest plan through a combination of repayment time intervals and repayment amount calculation methods, so that the family income and capital arrangements match the loan repayment plan, and improves the Efficient use of funds and reduced financing costs.

(The above answer was published on 2017-03-03, please refer to the actual relevant current house purchase policies)

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