In most cities, the down payment ratio of new housing provident fund is 30%, and that of second-hand housing is 40%. However, when using the provident fund to buy a house, the buyer must pay the down payment first, and then withdraw the balance from the provident fund management center, but the withdrawal balance cannot exceed the total house price.
After receiving the application materials, the staff of the provident fund management center shall review the applicant's qualifications, loan amount, loan term, loan information and other materials as required, and put forward preliminary opinions.
After signing the loan contract, the applicant shall go through the formalities of home insurance and mortgage registration, and the expenses incurred in this process shall be borne by the borrower. After completing the insurance and mortgage procedures, the bank will transfer the loan amount to the account designated by the borrower and the borrower according to the contract, and send the loan receipt to the borrower.
Legal basis:
"Regulations on the Management of Housing Provident Fund" Article 24 Employees may withdraw the balance of the housing provident fund account under any of the following circumstances: (1) purchasing, building, renovating or overhauling their own houses; (2) retirement; (three) completely lose the ability to work, and terminate the labor relationship with the unit; (4) Having left the country to settle down; (5) Repaying the principal and interest of the house purchase loan; (six) the rent exceeds the prescribed proportion of family wage income.