How to convert a commercial loan into a housing provident fund loan

If an applicant wants to convert a commercial loan into a provident fund loan, there are currently two main ways, one is to repay first and then borrow, and the other is It is a loan offset method. The details are as follows:

1. Bring our and our spouse’s identity certificates, marriage certificates, household registers, commercial loan contracts, real estate appraisal certificates, repayment bank cards and other information. , contact the bank where the original commercial loan came from and tell us that we need to go through a "business-to-business transfer", and then the staff will tell us what procedures we should follow.

2 The lending bank will review the application and information we submitted. After passing the review, the bank will tell us to go through the relevant procedures, such as signing a "Provide Fund Loan Contract" and "Mortgage Contract" with the lending bank. "wait.

3. Settle the difference between the provident fund loan and the original commercial loan balance and deposit it into the special deposit account of the original commercial loan bank. The bank staff will print a loan statement, and it will be your self-repayment. The monthly payment at the beginning of the loan, the total loan amount, the balance, etc.

Yinsu 4: After we check your credit and calculate the loan repayment, the bank will sign a contract with you. Not only must it sign a loan (mortgage) contract with the bank that handles commercial loans, but it must also sign a loan (mortgage) contract with the provident fund management company. The guarantee company designated by the center signs a guarantee contract.

5 After we have completed all relevant matters with the commercial banks and the guarantee company designated by the Provident Fund Management Center, the bank will start to issue the loan, and then we can wait for the Provident Fund Management Center to issue the loan, and the This part of the loan is used to settle the remaining unsettled loans from the original commercial bank.

6 After the commercial loan is converted into a provident fund loan, you still have to go to the original commercial loan bank to go through the real estate mortgage cancellation procedures, as well as the provident fund loan mortgage registration procedures. After the property mortgage and handover are completed, all you need to do is repay the loan on time according to the repayment plan.

How to transfer a commercial loan to a housing provident fund loan

Converting a commercial loan to a provident fund loan requires handling the business at the local provident fund center. The main process is as follows:

1. Consult the bank and provident fund center

Customers need to first consult the local provident fund management center and the original lending bank. This step is mainly to understand the policy of converting business loans to public companies and understand whether they meet the conditions for converting commercial loans to provident fund loans. , and what is the attitude of the original lending bank towards the conversion of provident fund loans, and whether it supports customers' conversion to provident fund loans.

2. Go to the bank to print relevant information

In this step, the customer needs to follow the provident fund center prompts, contact the lending bank to print the repayment statement and submit an early repayment application. Customers cannot apply for early repayment in the provident fund. The center settled the commercial loan in advance without knowing it, otherwise it would not be able to handle the business of transferring business to public.

3. Submit information to the Provident Fund Center

Generally speaking, the information that customers need to submit include ID card, credit report, income certificate, information obtained from the bank, etc. Specifically, What information is required depends on the notice from the local provident fund center.

4. Settle the commercial loan in advance

If you want to transfer business from business to business, settling the commercial loan in advance is a necessary step. Customers need to contact the original lending bank and transfer The commercial loan must be settled in one go first. It should be noted that the customer must settle the original commercial loan after being prompted by the Provident Fund Center.

5. Go to the bank to retrieve relevant materials

After settling the commercial loan, the customer needs to contact the bank’s account manager to get the loan settlement certificate, original real estate certificate, and the last settlement If you don’t have time, you can negotiate with the bank to mail these documents over.

6. Submit the information to the Provident Fund Center for review

After obtaining the above information, the customer needs to submit it to the Provident Fund Center for review. In order to speed up the efficiency of loan approval, the customer needs to ensure that the submitted information is correct. Or there is something missing, otherwise it will cause trouble in the provident fund loan review.

7. The Provident Fund Center notifies you of the interview

After the customer’s loan information is reviewed by the Provident Fund Center, you will receive an interview notice. The interview is not very complicated, and generally only the customer’s family and family will be consulted. For general questions such as occupation and income, customers should answer the questions truthfully based on their actual situation.

8. Procedures for handling house mortgage

Customers do not have to handle the house mortgage themselves. They can entrust an intermediary to handle the business. Provident fund centers in some areas will also automatically transfer the customer's mortgage to the customer. The information is submitted to the relevant departments for mortgage processing, and customers only need to pay attention to the mortgage progress.

9. The Provident Fund Center arranges the loan

After the mortgage is successfully processed, there will be a mortgage certificate. This is the material that the Provident Fund Center must master. After receiving the mortgage certificate, the Provident Fund Center will arrange After the loan is disbursed, the customer will receive a text message notification and will need to repay the loan as agreed.

It can be seen that converting a business to a public company is a relatively complicated business. If the customer is not very familiar with it, he can understand it in advance or find someone with experience to help him handle it.

Although converting a business to a public company can save customers a lot of mortgage interest, it is not a simple matter to convert a business to a public company. The customer needs to meet many conditions. There will be some differences in the company's policies. Customers can understand them in advance and be aware of them before handling business.

What are the conditions for converting a commercial loan into a provident fund loan?

1. A commercial loan must be converted into a provident fund loan and must meet the following conditions: When the original commercial loan is converted into a provident fund loan, the principal balance must be less than the applicant’s provident fund limit. The amount of the loan; can provide a guarantee recognized by the center; have paid provident fund in full for more than 6 months continuously; both the applicant and his wife must not have outstanding provident fund loans; the original commercial loan has been repaid normally for more than one year, and the repayment record is good.

2. Legal basis: Article 26 of the "Housing Provident Fund Management Regulations".

Employees who have paid housing provident funds can apply for housing provident fund loans from the Housing Provident Fund Management Center when purchasing, constructing, renovating, or overhauling their own homes. The Housing Provident Fund Management Center shall make a decision on whether to grant a loan within 15 days from the date of accepting the application, and notify the applicant; when granting a loan, the entrusted bank shall handle the loan procedures.

2. What conditions and materials are needed to apply for a commercial loan?

1. Conditions to be met when applying for a commercial loan

The borrower must be over 18 years old, the applicant must be no more than 70 years old for the loan, have a down payment for a house and a stable job, with a monthly salary of More than 2 times the repayment amount. He needs to provide proof of income and no bad credit history.

2. Information required when applying for a commercial loan

Original and copy of the house purchase contract and down payment invoice. The original and copy of the applicant's (and spouse's) household registration book, the original and copy of the marriage certificate (divorce certificate). If you are unmarried, you must provide your unmarried statement (bank text), a copy of your business license with the company's official seal, or an income certificate from the HR department that has been inspected annually (bank text), a personal credit report and academic certificate with an official seal.

How to convert a commercial loan into a provident fund loan? How to apply?

Commercial loans can be converted into housing provident fund loans.

1. To convert a commercial loan into a provident fund loan, the borrower should meet the following seven conditions at the same time:

1. Meet the city’s housing provident fund loan application conditions;

2. The borrower must be the borrower or spouse of the original housing loan (must be the buyer);

3. The original commercial home purchase loan has not been settled and the bank agrees to the borrower’s early settlement of the loan;

4. The original commercial house purchase loan has been repaid for more than one year (inclusive), the credit record is good, and there is no overdue loan balance;

5. The purchased property has been issued by the local real estate registration department The house ownership certificate is a steel-concrete structure;

6. Commercial loans that can be mortgaged on the purchased property can be converted into provident fund loans;

7. Have not applied for housing provident fund loan.

2. Materials required for converting commercial loan to provident fund loan (all materials must be original):

1. Original house purchase contract;

2. Original house purchase invoice issued by the tax department;

3. Original "House Ownership Certificate" and "Land Certificate";

4. Original ID cards of both spouses (within one year from expiry date) Above);

5. Original marriage certificate or original single certificate (single certificate stamped with the official administrative seal of the unit);

6. Original household registration book;

7 , Bank settlement certificate and original repayment voucher;

8. Original "Loan Contract" signed with the bank.

Extended information:

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 You cannot apply for a housing provident fund loan.

2. Those who participate in the housing provident fund system must also meet the following conditions when applying for a housing provident fund personal home purchase loan: that is, they must have continuously paid and deposited 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 will be able to obtain a housing provident fund loan again before the spouse repays the principal and interest of the loan. 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 a loan applicant applies for a housing provident fund loan, in addition to having a relatively stable economic income and the ability to repay the loan, the loan applicant must not have a large amount that has not yet been paid off, which 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.