Conditions for converting commercial loans into provident fund loans
1. The customer has paid the housing provident fund locally, and the housing provident fund has been paid on time for more than 12 months (6 months is required in some areas, please consult the customer service of the handling bank for details), and the current status of the provident fund account is normal.
2. The original commercial loan has been repaid for one year, all on time, and there is no overdue situation, and personal credit is good.
3. I have never applied for a housing provident fund loan before, and there is no outstanding provident fund loan under my name.
4. The purchased property has obtained the house ownership certificate issued by the local real estate registration department.
5. The amount of the business-to-public loan applied for is within the maximum amount of the housing provident fund loan stipulated by the local housing provident fund management center and the balance of the original commercial housing loan.
6. The application must be made by the borrower of the original commercial loan himself or as the spouse of co-borrower (if the marital status of the borrower changes, relevant credit information is required), and the consent of the original commercial loan handling bank is obtained.
Procedures for transferring commercial loans to provident fund loans
1. Submit the application
To convert commercial loans into provident fund loans, you must first prepare relevant information and submit it to the bank. Such as ID card, previous loan contract, etc. , must be submitted. When submitting, you must fill in the business transfer application form.
2. Bank audit, waiting for notice.
After the bank receives your application and submitted materials, it will review them. You just need to wait for the notice. After the approval, the bank will inform you to go through the relevant procedures.
3. Credit investigation and loan repayment calculation
After receiving the notice from the bank, you need to go to the bank for credit investigation and loan repayment calculation. The bank will review your personal credit report and let you make a pre-loan trial calculation in the provident fund system to see how your repayment ability is.
Step 4 sign a contract
When you pass the credit investigation and repayment calculation, the bank will sign a contract with you, not only with the bank that handles commercial loans, but also with the guarantee company designated by the provident fund management center.
Step 5 make up the difference
Make up the difference, because the amount of provident fund loans is often less than the amount of commercial loans, so when you convert commercial loans into provident fund loans, you still need to make up the difference between the original total commercial loans and the total provident fund loans.
This part of the difference will be deposited in the deposit account opened by the provident fund loan, which will be used to restore the loans of commercial banks. As for the remaining loans that have not been paid off, they need to wait until the provident fund loans are issued.
Step 6 lend a loan
Lending, when you have completed all related matters with the commercial bank and the guarantee company designated by the provident fund management center, the bank will start to issue loans and wait for the provident fund management center to issue loans;
This part of the loan is used to settle the remaining outstanding loans of the original commercial bank.
7. Real estate mortgage and handover
After a commercial loan is converted into a provident fund loan, you must go to the original commercial loan bank to go through the formalities of cancellation of real estate mortgage and registration of provident fund loan mortgage. After the mortgage and handover of real estate are completed, you only need to repay on time according to the repayment plan.