The provident fund cannot pay the down payment. Although housing provident fund can be said to be the most important function of buying a house, many property buyers still have some misunderstandings about it. For example, many buyers think that provident fund loans can pay down payment. In fact, this is all wet. Because you can only apply for provident fund loans if you pay the down payment first, you can't pay the down payment first and then apply for provident fund loans.

In any of the following circumstances, employees may apply for withdrawal of the storage balance in the housing provident fund account:

1, purchase, build, renovate or overhaul the owner-occupied housing with ownership;

2. Repay the principal and interest of the house purchase loan;

3. renting a house for self-occupation;

4, retired, retired (or reached the statutory retirement age);

5, completely lose the ability to work, and terminate the labor relationship with the unit;

6. Leave the country to settle down;

7, non city registered permanent residence workers and units to terminate the labor relationship;

8, the account moved out of the city, and terminate the labor relationship with the unit;

9. Laid-off workers, male 45 years old (including 45 years old), female 40 years old (including 40 years old), laid-off and unemployed for more than 12 months;

10. When an employee dies or is declared dead, his successor or recipient applies for withdrawing the storage balance in the employee's housing provident fund account.

To sum up, the provident fund can make a down payment, because you can only apply for a provident fund loan by paying a down payment first, so you can't.

Legal basis:

Article 2 of the Regulations on the Management of Housing Provident Fund

These Regulations shall apply to the deposit, withdrawal, use, management and supervision of housing provident fund in People's Republic of China (PRC).

The term "housing accumulation fund" as mentioned in these Regulations refers to the long-term housing accumulation fund paid by state organs, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions, private non-enterprise units and social organizations (hereinafter referred to as units) and their employees.