Compared with commercial loans, housing provident fund loans have many advantages, but it should be noted that housing provident fund loans still need to pay corresponding interest, but the interest will be lower than commercial loans.
1. How to calculate the interest on housing provident fund loans?
Housing provident fund loan interest = loan principal * loan term * loan interest rate. The loan amount of housing provident fund does not exceed 70% of the house value, and the loan period can be up to 30 years. The loan interest rate fluctuates according to the benchmark interest rate of the central bank provident fund loan. If it is the first housing provident fund loan, the interest rate does not float. The benchmark interest rate of the central bank's provident fund loan is:
1, less than five years (including five years), and the interest rate is 2.75%.
2. For more than five years, the interest rate is 3.25%.
Second, the housing provident fund loan calculation
The calculation of provident fund loan should be determined according to four conditions: repayment ability, proportion of house price, balance of housing provident fund account and maximum loan amount, among which the minimum value calculated by the four conditions is the maximum loanable amount of the lender.
1. The calculation formula of provident fund loan based on repayment ability is: loan amount = [(total monthly salary of the borrower or husband and wife+monthly deposit of housing provident fund of the unit where the borrower or husband and wife work) × repayment ability coefficient 40%- monthly repayment amount of existing loans of the borrower or husband and wife ]× 12 (month )× loan period. The total monthly salary = the monthly contribution of the provident fund/(unit contribution ratio+individual contribution ratio);
2. The calculation formula of provident fund loan based on house price is: loan amount = house price × loan ratio. Among them, the loan proportion is determined according to different types. Generally speaking, if the building area is more than 90 square meters, the loan amount shall not exceed 70% of the purchase price; If the construction area is less than 90 square meters, the loan amount shall not exceed 80% of the purchase price.
3. According to the maximum loan amount, if I use the housing provident fund to apply for a loan provident fund loan and meet the application conditions, the maximum loan amount is 500,000 yuan; At the same time, if the spouse's housing provident fund is used to apply for a loan and the loan application conditions are met, the maximum loan amount is 700,000 yuan.
4. The calculation formula of the provident fund loan based on the balance of the provident fund account is: the amount of the provident fund loan = the borrower and the borrower's provident fund account balance ×20.
Three, the types of housing provident fund loans
Personal housing provident fund loan: it is a preferential housing provident fund loan used by the housing provident fund management center and entrusted by commercial banks to the depositors of housing provident fund who purchase, build, renovate and overhaul their own houses and raise funds to build cooperative houses.
Personal housing provident fund portfolio loan: refers to that when the amount of housing provident fund loan is insufficient to pay the house purchase price, the borrower applies for housing provident fund loan, and at the same time applies for commercial personal housing loan from the entrusted bank, and the two loans together form a portfolio loan. Housing provident fund loans in portfolio loans are approved by the management center, and commercial loans are approved by the entrusted banks.
The real estate developer signs a cooperation agreement on commercial housing mortgage loan with the management center and the entrusted bank, and the real estate developer provides the borrower with a phased guarantee and deposits a deposit according to a certain proportion of the total loan. After completing the property right certificate and mortgage registration, the guarantee responsibility is terminated and the purchased house is converted into mortgage guarantee. The borrower applies for a loan from the management center. After approval, the entrusted bank signs a loan contract with the borrower and goes through the formalities of using the loan.
Personal housing provident fund replacement portfolio loan: firstly, the bank issues commercial housing loans to borrowers (employees who have paid housing provident fund) with bank funds, and then the entrusted bank applies for provident fund loans to the management center on behalf of the borrowers. The borrower's provident fund loan amount is controlled within its basic provident fund loan amount and does not exceed 70% of the commercial housing loan amount, and its basic provident fund loan period is shorter than the commercial housing loan period by more than 1 year.
According to the law, we can know that the interest rate of housing provident fund loans fluctuates according to the benchmark interest rate of central bank provident fund loans. If it is the first housing provident fund loan, the interest rate will not float.
Legal objectivity:
Article 14 of the Regulations on the Administration of RMB Interest Rate shall bear interest according to the deposit interest rate listed on the interest settlement date of the current year, and after the interest settlement, it shall be transferred to the carry-over account of the previous year; Interest is calculated according to the three-month fixed lump-sum deposit interest rate published on the interest settlement date carried forward last year. The interest settlement date of provident fund deposits is June 30th every year.