Loan portfolio is a way for banks to distribute credit risks by granting loans to more than two debtors under the constraint of limited total loans. Due to macro factors such as industry characteristics and business cycle.
One of the main reasons why developers refuse portfolio loans or provident fund loans is the binding agreement reached between developers and banks. Banks that generally provide commercial housing loans are also banks that provide loans to real estate companies. Commercial housing loan business belongs to the bank's high-quality assets, so when the bank signs a development loan contract with the developer, the attached condition is to handle commercial housing loans.
Another and most important reason is that, under normal circumstances, it takes a long time to approve provident fund loans and the procedures are complicated. General commercial loans only take two to three months, while provident fund loans last for half a year. Lending time is one to two months slower than commercial loans, and if portfolio loans are used, the gap between the two is even greater.
This means that if developers accept the use of portfolio loans by property buyers, the speed of withdrawing funds will obviously slow down. Based on the above two points, developers are of course reluctant to choose portfolio loans with slow repayment speed, and prefer pure personal commercial loans.
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Requirements for applying for portfolio loans:
1. The borrower has legal status, that is to say, it must have legal and valid identification materials.
2. The borrower is a natural person who has paid the housing provident fund in full and on time.
3, a stable economic income, good credit, the ability to repay the loan principal and interest.
4. There are legal and effective purchase (construction, overhaul) contracts and agreements and other supporting documents required by the loan bank.
5. Ensure that the self-raised funds above 30% of the total price of the purchased house are used to pay the down payment of the purchased house. According to different regions, there may be different regulations. Please consult relevant local departments for details.
6. Mortgaging or pledging the assets recognized by the loan bank, or (and) using legal persons, other economic organizations or natural persons with sufficient compensatory capacity as guarantors.
7. Meet the loan conditions stipulated by the local provident fund management department.
8. Other conditions stipulated by the lending bank for portfolio loans.
Baidu Encyclopedia-Personal Housing Portfolio Loan