Many people say that having a provident fund is equivalent to half the battle in buying a house. People must have a more thorough understanding of buying a house. Everyone should also have an in-depth understanding of the issue of buying a house with provident funds. Whether it is a loan or loan repayment, buying a house with provident funds has many benefits. Therefore, everyone who wants to buy a house must understand what they need to know about provident funds to buy a house and how to use housing provident funds to buy a house?

What you need to know to buy a house with provident fund

Those who are involved in withdrawing and repaying the loan should provide the loan contract, ID card, spouse or direct blood relationship certificate (marriage certificate or household registration (book), housing provident fund account number, loan account number (including but not limited to: statement, repayment plan, etc.).

At the time of termination, all persons participating in loan withdrawal and repayment must bring the following materials: loan contract, ID card, spouse or direct blood relationship certificate (marriage certificate or household registration book), provident fund account number, loan account number supporting materials (including but not limited to: statement, repayment plan, etc.) and the original "Power of Attorney". Loan accounts that have already processed the withdrawal and repayment termination business shall not be entrusted to accept operations again within one year. The entrustment can be terminated when the loan is settled, or the entrustment can be terminated when the loan is not settled.

How to use the housing provident fund when buying a house

1. House purchase: This is actually the original intention of setting up the housing provident fund, which is used for loans when buying a house. At the same time, commercial loans for house purchases can be withdrawn for down payment. If you already own your own home, you can use the housing provident fund whether it is building, renovating, or overhauling your home.

2. If you rent a house, the housing provident fund can also be used, but the quotas for public rental housing and commercial housing are different. For specific information, please consult the relevant local departments. You can use your parents' housing provident fund to buy a house, that is, you can withdraw your parents' housing provident fund: in this case, you are buying your own house without using a housing loan.

3. If you don’t plan to buy a house or have other needs. You can go to the relevant department to cancel your account and withdraw the entire balance. If the family encounters a particularly big change, the housing provident fund can be withdrawn and used within the scope of subsistence allowance or special poverty.

This is what you need to know about provident fund to buy a house and how to use housing provident fund to buy a house. Buying a house is not simple, and after having provident fund, you can save a lot of money whether you buy a house or rent a house. Everyone needs to have a deeper understanding of the issue of provident fund buying a house. Only after the policy is clarified can people use provident fund to buy a house more easily.