Guangzhou Housing Provident Fund Management Center said that in order to support employees who have paid housing provident fund to buy ordinary self-occupied houses and improve their living conditions, Guangzhou Housing Provident Fund Management Committee decided to adjust the housing provident fund personal housing loan policy from June 8, 20 15, which not only lowered the application threshold for provident fund loans, but also reduced the down payment ratio of second-home loans to 30%.
The down payment for the first suite is only 20%
According to the previous policy, residents who are not permanent residents in Guangzhou need to continuously deposit the housing provident fund 12 months (including 12 months) when applying for housing provident fund loans. According to the New Deal, the continuous deposit time will be reduced to 6 months or more, which means that the threshold for foreign buyers to apply for provident fund loans will be lowered.
More interestingly, the new provident fund policy has also loosened the down payment ratio. Workers' families (including borrowers, spouses and minor children, the same below) apply for individual housing provident fund loans to purchase the first set of ordinary self-occupied housing, with the minimum down payment ratio of 20% and the loan interest rate as the benchmark interest rate for individual housing provident fund loans. Workers' families who own a house but have no loan record or own a house and settle the corresponding housing loans can apply for personal housing provident fund loans to buy ordinary self-occupied houses, with a minimum down payment ratio of 30%. For families who own a house but have not settled the corresponding housing loan, they can apply for individual housing provident fund loans to buy ordinary self-occupied houses, and the minimum down payment ratio of the loans is 40%.
The housing area limit of provident fund loans has also been relaxed, from the housing below 90 square meters to the ordinary housing below 144 square meters. This is undoubtedly a big plus for improved demand.
The New Deal also stressed that it will continue to suspend the issuance of personal housing provident fund loans for families to purchase third and above houses.
The loan amount is related to the deposit amount.
The formula for calculating the loan amount of Guangzhou Provident Fund has also been changed from "account balance ×2+ monthly contribution × months to retirement age ×4" to "account balance ×8+ monthly contribution × months to retirement age". According to reports, the new formula for calculating the loanable amount is linked to the personal deposit amount, which puts more emphasis on the deposit of employee account balance, embodies the principle of equality of obligations and rights, encourages employees to repay more loans and avoids speculative deposit behavior.
It is worth noting that the maximum amount of Guangzhou provident fund loans has not been adjusted. 1 employee applies for individual housing provident fund loan, with a maximum amount of 500,000 yuan. Two or more people buy the same set of self-occupied housing, and the maximum amount of personal housing provident fund loans is 800,000 yuan.
Guangzhou Housing Provident Fund Management Committee also stressed that the standards of "recognizing housing" and "recognizing loans" should be implemented for the determination of the number of family housing units. That is to say, if the buyer has a loan record before, even if all the houses under his name have been sold or the loan has been settled, if he wants to apply for a provident fund loan when buying a new house, then how many mortgage records he has has is also counted as several suites.
(The above answers were published on 20 15-07-20. Please refer to the actual situation for the current purchase policy. )
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