The calculation of the Changsha provident fund loan limit is determined based on four conditions: loan repayment ability, house price ratio, housing provident fund account balance and maximum loan limit. The minimum value calculated from the four conditions is the maximum the borrower can loan amount. The calculation method is as follows:
The loan amount calculated based on the maximum loan limit
If you use your own housing provident fund to apply for a housing provident fund loan, the maximum loan limit is 400,000 yuan; if you use your spouse’s housing provident fund to apply for housing at the same time, For provident fund loans, the maximum loan limit is 600,000 yuan.
If you use your own housing provident fund to apply for a housing provident fund loan, and you make a normal deposit of supplementary housing provident fund when applying for a loan, the maximum loan limit is 500,000 yuan; if you use your spouse’s housing provident fund to apply for a housing provident fund loan, and when applying for a loan, If you or your spouse make regular contributions to the supplementary housing provident fund, the maximum loan limit is 700,000 yuan.
If the employee or his spouse normally pays and deposits monthly housing subsidies when applying for a loan, the regulations on normal payment and deposit of supplementary housing provident fund shall be followed.
The calculated loan limit value is kept to the thousandth place, and the thousandth place value that is not zero below the thousandth place is increased by one.
Loan amount calculated based on loan repayment ability
The calculation formula is:
[(Borrower’s total monthly salary + Borrower’s monthly housing provident fund payment) Amount)×Loan repayment ability coefficient-Total monthly repayment of the borrower’s existing loan]×Loan term (months).
If the spouse’s quota is used:
[(Total monthly salary of both spouses + Monthly housing provident fund payment amount of the employer where both spouses work) × Loan repayment ability coefficient - Existing monthly loan amount of both spouses Total amount to be repaid] × loan term (months).
The loan repayment ability coefficient is 40%
Total monthly salary = monthly provident fund payment ÷ (unit contribution ratio + individual contribution ratio).
The loan amount calculated based on the house price
The calculation formula is: loan amount = house price × loan percentage
The loan percentage is based on the purchase, construction and repair of the house Determine the different types and number of housing loans:
a. Purchase of commercial housing, limited-price commercial housing, targeted resettlement of affordable housing, targeted sales of affordable housing or private property housing.
Employee families (including employees, spouses and minor children, the same below) take loans to purchase their first homes (including commercial housing, limited-price commercial housing, targeted placement of affordable housing, targeted sales of affordable housing or private property housing), and the building area of ??the purchased house is less than 90 square meters (including 90 square meters), a down payment of no less than 20% of the purchase price of the house should be paid, and the loan amount shall not be higher than 80% of the purchase price of the house; If the building area of ??the purchased house exceeds 90 square meters, a down payment of no less than 30% of the purchased house price shall be paid, and the loan amount shall not exceed 70% of the purchased house price.
If an employee family takes a loan to purchase a second home, they should pay a down payment of no less than 50% of the purchase price of the home, and the loan amount shall not be higher than 50% of the purchase price of the home.
For employee families who take out loans to purchase their third or more homes, the issuance of personal housing provident fund loans will be suspended.
When purchasing a privately owned house, if the house price and the appraised price are inconsistent, the lower value of the two will be used to determine the amount.
When purchasing affordable housing for targeted resettlement, the loan amount should not be higher than the difference between the total price of the house purchased and the housing compensation.
b. When purchasing an existing public house, the loan amount shall not exceed 70% of the price of the purchased house; when constructing, renovating or overhauling a self-owned house, the loan amount shall not exceed 70% of the cost of building the house. %.
Loan amount calculated based on the balance of the housing provident fund account
If an employee applies for a housing provident fund loan, the loan amount shall not be higher than the balance of the employee's housing provident fund account when applying for the loan (and use the spouse's housing provident fund to apply at the same time The provident fund loan is 10 times the sum of the housing provident fund account balances of the employee and his spouse). If the housing provident fund account balance is less than 20,000, it is calculated as 20,000.
Advantages of provident fund loans
Housing provident fund loans are not only widely used in the purchase of new houses, but are also very commonly used in the purchase of second-hand houses. Since the annual interest rate of provident fund loans is only 3.87%, which is nearly 2 percentage points lower than the current commercial loan interest rate of 5.94%, a common concept has been formed in the minds of most home buyers: using provident fund loans saves money than using commercial loans.
Experts from the financial management department of "I Love My Home", a well-known real estate agency in Beijing, said that the advantages of provident fund loans are not only limited to preferential interest rates, but also have many advantages such as high loan amounts, long terms, flexible and convenient repayments, etc.
(The above answer was published on 2013-09-03, please refer to the actual relevant current house purchase policies)
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