Can commercial loans be converted into provident fund loans after buying a house?
Commercial loans can generally be converted into provident fund loans after buying a house, mainly to meet the conditions for commercial loans to be converted into provident fund. Of course, the regulations in different regions are different. Some support commercial loans to the public, and some support commercial loans to the public, requiring buyers to prepare repayment funds in advance. Without sufficient repayment funds, commercial loans cannot be converted into provident fund loans.
There is also a limit on the amount of provident fund loans, so commercial loans to provident fund loans can only be applied within the prescribed amount, and must not exceed the prescribed amount.
Conditions for transferring commercial loans to provident fund loans (taking Changsha as an example);
(a) need to meet the basic conditions of housing provident fund personal loans;
(2) If the purchased house is mortgaged, the employee's family shall apply for a loan first and settle the commercial bank loan after approval (apply within 30 days after the domestic demand is settled in advance); If other properties are used as collateral, commercial banks must agree to pay off in advance.
(3) On the setting of housing mortgage: In principle, employees should mortgage the purchased housing as collateral to Changsha Provident Fund Center. Where a commercial bank's housing loan is converted into a provident fund loan and mortgaged with other houses, the mortgaged house shall meet the following conditions:
1. The mortgagor owns the house and can dispose of it;
2. The property right of the house is complete, flawless and uncontroversial, and the purpose or nature of the house is residential;
3, not included in the scope of demolition; 4. Be able to apply for mortgage loans within the administrative area of the purchased house;
4. The property of minors cannot be used as the mortgage of their houses (including * * * property rights);
5. Other conditions for applying for housing mortgage loans.
It should be noted that Changsha Provident Fund Center does not support employees who have loans from different places to apply for loans from commercial banks to provident fund loans.
Generally speaking, whether commercial loans can be converted into provident fund loans after buying a house depends on local regulations. The interest rate of provident fund loans is low. If the application conditions are met, property buyers can give priority to provident fund loans. If the loan amount is not enough to buy a house, they can apply for a portfolio loan or raise the down payment.