Extended information:
Commercial loans, in fact, can also be called personal housing loans, and urban residents can go to the bank to apply for commercial loans when buying a house. In this way, you only need to pay the down payment when buying a house, and the balance will be paid in the form of a loan.
The application conditions for commercial loans mainly include:
1. The applicant should be between 18 and 65 years old.
2. The object of commercial loans is urban residents, so the applicant must have permanent residence or valid residence status in cities and towns.
3. The applicant should have a legal and stable job and income, and be able to provide proof of work and income to prove that you have the ability to repay the loan principal and interest on time.
4. Need to provide a house purchase contract, agreement or letter of intent.
5. proof of down payment accounting for at least 3% of the house price is required. However, different banks may have different requirements for down payment.
6. The applicant must have assets recognized by the lender as collateral or pledge, or have a guarantee recognized by the lender.
7. Personal credit should be good, and bad credit records are not allowed on personal credit records.
8. In addition to the above conditions, the lending bank may stipulate other conditions, depending on the bank you are lending.
Change of commercial loan interest rate:
If the user chooses LPR+ fixed interest rate mode, the commercial loan interest rate will not change during the loan term. The user chooses the LPR+ floating interest rate model. When the LPR is adjusted, the commercial loan interest rate will change in the following year. Therefore, whether the interest rate of commercial loans will change is related to the loan interest rate model.
LPR+ basis point fixed interest rate model or floating interest rate model has its own advantages and disadvantages. Users can choose the loan interest rate model according to their own knowledge and needs.
Commercial loans are transferred to provident fund after buying a house:
Commercial loans can be transferred to provident fund loans after buying a house. Users can apply for converting commercial loans into provident fund loans if they meet the conditions for converting commercial loans into provident fund loans. It should be noted that in some areas, commercial loans are required to be paid off before they can be converted into provident fund loans, which requires users to prepare repayment funds in advance. Without sufficient repayment funds, commercial loans cannot be converted into provident fund loans.
however, local regulations allow commercial loans to be directly converted into provident fund loans, so users do not need to pay off commercial loans in advance. As long as the commercial loans are not overdue and users meet the conditions of provident fund loans, they can directly handle the business of converting commercial loans into provident fund loans. Since there is no limit on the loan amount for commercial loans and there is a limit on the amount for provident fund loans, when commercial loans are converted into provident fund loans, you can only apply for provident fund loans within the prescribed amount.
when the amount of provident fund loans is insufficient, users can apply for portfolio loans, which can solve the problem of insufficient amount of provident fund loans. Commercial loans allow users to turn into portfolio loans, but users need to meet the conditions of both commercial loans and provident fund loans.