Commercial loans can be converted into provident fund loans, but the following conditions must be met:

1. When the borrower applies for a loan at the place where the provident fund loan is applied, the provident fund is in a normal deposit state;

2, the applicant or * * * and the applicant's unit in accordance with the provisions for the borrower to pay housing provident fund for more than a month;

3. The applicant has a stable economic income and the ability to repay the loan;

4. The applicant agrees to provide the approved loan guarantee method;

5. The applicant and * * * together with the applicant, including the spouse, have no outstanding loans or other debts except the loan transferred to the provident fund.

Housing accumulation fund refers to the long-term housing savings paid by state organs, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions, private non-enterprise units, social organizations and their employees.

The definition of housing provident fund includes the following meanings:

Housing provident fund is only established in cities and towns, and the housing provident fund system is not established in rural areas.

Only on-the-job employees can establish a housing provident fund system. Unemployed urban residents and retired workers do not implement the housing provident fund system.

The housing accumulation fund consists of two parts, one part is paid by the unit where the employee works, and the other part is paid by the individual employee. After the employee's individual deposit is withheld by the unit, it will be deposited into the individual account of the housing provident fund together with the unit deposit.

The long-term nature of housing provident fund deposit. Once the housing provident fund system is established, employees must be paid continuously in accordance with the regulations during their employment, and shall not be suspended or interrupted except for employees' retirement or other circumstances stipulated in the Regulations on the Administration of Housing Provident Fund. It embodies the stability, unity, standardization and compulsion of housing provident fund.

Housing accumulation fund is a personal housing savings fund specially used by employees for housing consumption expenditure, which has two characteristics: accumulation and specificity.

The establishment of employee housing provident fund system provides a guarantee for employees to solve housing problems quickly and well; It can effectively establish and form a mechanism and channel for workers with housing to help workers without housing, and the housing provident fund provides financial assistance to workers without housing, which reflects the mutual assistance of the housing provident fund to workers;

Every urban employee must pay individual housing provident fund from the date of joining the work to the time of retirement or termination of labor relations; The employee's unit should also pay the housing provident fund for employee subsidies as required.

Housing provident fund deposit scope: government agencies and institutions; State-owned enterprises, urban collective enterprises, foreign-invested enterprises, Hong Kong, Macao and Taiwan invested enterprises, urban private enterprises and other urban enterprises or economic organizations; Private non-enterprise units and social organizations; Permanent representative offices of foreign, Hong Kong, Macao and Taiwan invested enterprises and other economic organizations.

When I bought a house, I made a commercial loan. Can it be converted into a provident fund loan in the future?

Converting commercial loans into provident fund loans is feasible in theory, but it is difficult to operate in practice. If the commercial loan needs to be repaid 1 year, then the person who nominally has a commercial loan can only apply for a provident fund loan, and it is necessary to raise funds to pay off the commercial loan before applying for a provident fund loan. Require the parties concerned to be in the state of deposit, and continuously deposit for 6 months. Only when the party's provident fund loan amount is enough can it be handled.

Legal analysis

Commercial loans can be converted into provident fund loans. However, in order to convert personal commercial loans into provident fund loans, it is necessary to meet the conditions for converting commercial loans into provident fund loans. The conditions for converting commercial loans into provident fund loans mainly include: 1, continuous repayment of personal commercial loans 1 year or more; 2. Individual provident fund is continuously paid 1 year or more; 3. Houses that are transferred to provident fund loans are required to be registered in the local monetary center and have formal and legal residential development projects; 4. Individuals need to obtain the consent of the original commercial loan bank to convert commercial loans into provident fund loans. Therefore, when buying a house with a loan, if the borrower chooses a commercial loan first, it can also be converted into a provident fund loan under certain conditions. However, the conditions for commercial loans to provident fund loans are generally better, and the conditions required by different places will be somewhat different. It is suggested to consult clearly before handling commercial loans and provident fund loans, and then decide whether to handle them. Housing provident fund, as its name implies, is definitely used for housing savings. According to the relevant national laws and regulations, the use of housing provident fund is not limited to buying houses. In the case of renting a house, renovating or building a house, as long as the prescribed conditions are met, you can apply for the withdrawal of the housing provident fund. In addition, when buying a house, if the buyer needs a mortgage loan due to insufficient funds, he can also apply for a loan with his own provident fund when applying for a loan from the bank. At this time, the mortgage interest rate will be relatively low.

legal ground

Article 26 of the Regulations on the Management of Housing Provident Fund stipulates that employees who have paid housing provident fund can apply for housing provident fund loans from the housing provident fund management center when purchasing, building, renovating or overhauling their own houses. The housing provident fund management center shall make a decision on whether to grant loans within 15 days from the date of accepting the application, and notify the applicant; Where a loan is granted, the entrusted bank shall go through the loan formalities. The risk of housing provident fund loans shall be borne by the housing provident fund management center.

Can commercial loans be converted into housing provident fund loans?

Customers who have already applied for commercial loans can be converted into provident fund loans as long as they meet the following conditions:

1. The local housing accumulation fund is paid normally.

2. The repayment of the original commercial housing loan is over 1 year (inclusive), and the credit record is good.

3. The loan business only accepts the application of the borrower or spouse of the original housing loan.

4. The purchased property has obtained the house ownership certificate issued by the local real estate registration department.

5. The borrower has not applied for provident fund loans before.

Commercial loans are loans used to supplement the working capital of industrial and commercial enterprises, usually short-term loans with a term of 9 months. Such loans are the main part of commercial bank loans, generally accounting for more than one third of the total.

Commercial loans, also known as individual housing loans, are loans provided by commercial banks and housing savings banks approved by the People's Bank of China for urban residents to purchase ordinary housing for their own use.

Precautions:

1. Submit a loan application: When you have signed a house sales contract, you can apply for a commercial loan from the bank. Whether it is a first-hand mortgage or a second-hand mortgage, it is necessary to submit the complete materials approved by the bank to the bank for review, which is the most important step in the commercial loan process.

Mainly including ID card, household registration book, original and copy of marriage certificate; Foreign household registration needs to provide temporary residence permit or residence permit; Income certificate issued by the work unit; Sales contract, down payment invoice or receipt; Wage flow or other proof of assets in the past six months. In addition to the above five materials, different banks have different requirements for commercial loans, and other materials required by loan banks should be inquired in detail.

2. Investigation accepted by the bank: After receiving the application materials of the loan applicant, the bank will review the materials. The general review time for commercial loans is 15 working days, and the longest time shall not exceed 1 month.

During the bank investigation, the loan applicant will be asked to supplement some information according to the situation. Therefore, the loan applicant needs to keep in touch with the bank during this period.

3. Bank verification and approval: the loan bank will verify several aspects: the situation of the house, the qualification and credit status of the borrower, etc. This is an important link in the process of commercial loans. If the credit of the loan applicant is not good, it will directly lead to the failure of the loan application, so it is very important to accumulate good personal credit in life.

4. Both parties shall go through relevant formalities: the bank informs the loan applicant that after the loan is approved, it is necessary to open an account in the bank, get a debit card and sign a loan contract. At the same time, handle mortgage, guarantee, pledge, insurance and other related guarantee procedures. When signing a loan contract and handling the guarantee formalities, you must know the detailed rules in the contract in detail and make clear your rights and obligations so as to avoid unnecessary misunderstanding.

5. Bank loan: After all loan procedures are completed, the bank transfers the loan funds to the account of the real estate developer, and the loan relationship is established, and the lender repays the loan according to the regulations.