1, different types of houses
Housing provident fund loans can only be used temporarily, and other types of houses such as commercial and residential buildings cannot apply for provident fund loans;
The types of houses faced by commercial loans are relatively loose. In addition to residential, commercial and residential dual-use housing can also apply.
2. The loan amount is different from the interest rate.
According to the regulations, the interest rate of housing provident fund loans is fixed at one year. If the interest rate is adjusted during the loan period, and the loan period is only one year, the interest rate will not be adjusted. If the loan term is more than one year, the new interest rate will be implemented from the following year 1 month 1 day, and the amount will depend on local conditions.
The interest rate of commercial loans depends on local banks, and there is generally no upper limit. Specifically, it is based on the total household income, but the interest rate is still much lower than that of commercial loans.
3. The loan term is different.
Provident fund loans require a total loan period of not more than 30 years (omitted everywhere)
On the other hand, commercial loans are more flexible and have a longer repayment period.
4. The approval time and organization are different.
Commercial loans need about 20 working days, and provident fund loans need about 40 times faster than provident fund loans.
Commercial mortgage is mainly approved by banks, which make decisions; Provident fund mortgage needs to be at the core of provident fund management, and banks are only executing agencies.
5. Different requirements
The requirements of commercial loans are good personal credit, no bad credit record and repayment ability.
In the provident fund, in addition to good personal credit, it is also required that the personal provident fund account must be paid continuously, normally and in full from the date of loan.
6. Different sources of loans
Commercial loans come from public funds.
Provident fund housing loans come from the housing provident fund paid by individual employees and their units.
When buying a house, you can apply for provident fund loans and commercial loans, but provident fund loans need to be reviewed by the provident fund management center to determine whether the amount meets the loan conditions.
Moreover, commercial loans only handle the formalities of buying a house by loan, which is more troublesome than commercial loans, which is why many commercial houses do not accept provident fund loans to buy a house.
To sum up, the biggest feature of provident fund loans to buy a house is
The biggest feature of commercial loans is less procedures and more flexibility.
Extended data:
It is understood that many cities in China, such as Fuzhou, Guangzhou, Dongguan, etc., have successively launched the "business to public" business. It is a commercial loan to a provident fund loan.
Commercial loans need to meet five conditions:
1, the original commercial housing loan settlement loan;
2. The repayment of the original commercial housing loan is over 1 year (inclusive), and there is no overdue loan balance;
3. The borrower must be the original commercial couple;
4. The purchased property has been obtained.
5. The borrower has sufficient funds to pay off the original commercial housing loan; If the borrower does not have enough funds to pay off the original commercial housing loan, it shall apply to the guarantee institution of this Municipality recognized by the management center and the entrusted bank with corresponding qualifications.
In addition, countries and regions must also meet the requirements.
information needed
Copy of the applicant's and spouse's ID card (back of ID card);
Three copies of the household registration book of the applicant and spouse;
The applicant's marriage certificate (the marriage certificate needs to copy the photo page and the content page;
The time of unmarried certificate must be counted from the marriage age stipulated by the state;
The certificate of non-remarriage must be counted from the date of divorce or widowhood;
The certificate must be issued by the civil affairs bureau, valid for ten days), one original and two copies; Fill in the complete "Guiyang Housing Provident Fund Loan Application Approval Form" (sealed by the unit), with three originals;
Three originals of loan mortgage contract, loan voucher and other relevant loan procedures;
List of loan balance (repayment in the last six months and loan balance in this month), one original and two copies;
Three copies of housing property certificate, deed tax certificate, land certificate and other documents;
Sign the Registration Form for Housing Mortgage Filing (provided by the guarantee company), original 1 copy.
In addition, all copies must be copied on A4 paper, and the originals must be checked at the handling site.