2. The commercial bank shall apply to the provident fund trustee bank for the borrower's provident fund loan with the relevant materials of the payer.
3, provident fund bank audit materials. The entrusted bank of the provident fund shall examine and verify the relevant certification materials of the borrower submitted by the commercial bank. If it passes the examination, it shall promise the borrower the loanable amount and loan term in writing and notify the commercial bank.
4. Certification materials of commercial banks. The commercial bank shall examine the relevant certification materials submitted by the borrower, and after the examination and approval, promise the borrower the loanable amount and loan term of the commercial loan in writing.
5. Sign a personal housing loan contract. The borrower signs a personal housing loan contract with the bank, and the loan bank transfers the loan amount to the account opened by the selling unit in the bank according to the time agreed in the loan contract.
Advantages and disadvantages of portfolio loan
Advantages: saving interest.
Through calculation, we can see that the biggest benefit of portfolio loan is to save interest for buyers.
To give a simple example, suppose that the loan is 6,543,800 yuan and the loan term is 20 years. The expected annualized interest rate of commercial loans is calculated at 5.40%. The monthly payment of pure commercial loans is 6,822.52 yuan, the combined loans are 600,000 yuan, the commercial loans are 400,000 yuan, the expected annualized interest rate of provident fund loans is 3.50%, and the monthly payment is 6,208.76 yuan, which is 6 13.76 yuan less than that of commercial loans.
The total interest on commercial loans is 542,250.00 yuan, and the total interest on portfolio loans is 427,775.00 yuan. The difference between them is 1 14475.00 yuan. You can save your own interest by combining loans.
Disadvantages: the loan bank is restrictive, with long processing time and high cost.
Although portfolio loans are more economical than commercial loans, the disadvantages of handling portfolio loans are also obvious.
First of all, the bank to be handled must be designated by the provident fund management center, which makes property buyers have certain restrictions on choosing banks, loan products and repayment methods.
Secondly, the processing time of portfolio loans is longer. Because portfolio loans involve both provident fund loans and commercial loans, they need to be reviewed twice, and commercial loans can only be released after the mortgage registration, which also makes portfolio loans take longer than pure commercial loans and pure provident fund loans, resulting in a low acceptance of this loan method by many owners.
Third, in terms of loan processing cost, because the combined loan needs to charge the service fees of the provident fund and commercial loans respectively, compared with commercial loans, the borrower may increase the cost when handling the combined loan.