There are regional restrictions on housing provident fund purchases. Because the housing provident fund is not universal across the country and is paid in different regions, employees can generally only buy houses in the city where they pay the housing provident fund.
Of course, some areas have opened provident fund loan services in other places. If the provident funds of the city where you want to buy a house and the city where you have paid your provident fund are interconnected, then employees can buy a house in another place. Note that different regions have different regulations. For details, you can consult the staff of the local housing provident fund management center.
Provident fund loans refer to loans enjoyed by employees who have paid housing provident funds. According to national regulations, all employees who have paid housing provident funds can apply for personal housing provident fund loans in accordance with the relevant provisions of provident fund loans.
Provident fund loans refer to personal housing provident loans. They are local housing provident fund management centers. They use the housing provident funds paid by employees who apply for provident fund loans to entrust commercial banks to purchase, build, renovate, and overhaul self-occupied housing. House mortgage loans issued to housing provident fund depositors and retired employees who paid housing provident funds during their employment. Employees who have paid housing provident funds for a certain period of time or more according to regulations (the period in each city is different, for example, it is more than 12 months in Changsha) can apply for provident fund loans when they have insufficient funds to purchase, build, renovate, or overhaul their own houses.
The conditions for the loan are: the unit’s current employees sign a labor contract for more than 3 years (or sign a 1-year labor contract for 3 consecutive years); pay the housing provident fund normally and continuously on a monthly basis for more than a certain period; the legal limit is not exceeded Retirement age; the borrower has stable economic income and the ability to repay principal and interest; the borrower agrees to handle housing mortgage registration and insurance; provide a guarantee method agreed by the local housing fund management center and its affiliated sub-center; and submit relevant documents required by the bank, such as House purchase contract or house pre-sale contract, house property ownership certificate, land use certificate, proof of provident fund deposit, etc.
Loan conditions
1. Only employees who participate in the housing provident fund system are eligible to apply for housing provident fund loans. Employees who do not participate in the housing provident fund system cannot apply for housing provident fund loans.
2. Those participating in the housing provident fund system who want to apply for a housing provident fund personal home purchase loan must meet the following conditions: that is, they must have continuously paid and deposited the housing provident fund for no less than six months before applying for a loan. This is because if employees’ behavior of paying housing provident funds is abnormal and intermittent, it means that their income is unstable and risks will easily arise after the loans are issued.
3. If one spouse applies for a housing provident fund loan, neither spouse can obtain another housing provident fund loan before the principal and interest of the loan are repaid. Because housing provident fund loans are financial support provided to meet the basic housing needs of employee families, and are a type of "housing security" financial support.
4. When applying for a housing provident fund loan, the loan applicant must have a relatively stable economic income and the ability to repay the loan, and must not have a large amount of outstanding debt that may affect the repayment of the housing provident fund loan. capacity for other debts. When employees are burdened with other debts, granting housing provident fund loans is very risky and violates the principle of safe operation of housing provident funds.
5. The maximum term of provident fund loans shall not exceed 30 years. When applying for a portfolio loan, the loan terms of the provident fund loan and the commercial housing loan must be consistent.