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How much can provident fund loan for housing purchase

How much can provident fund loan for housing purchase

Now the problem of buying a house is becoming more and more popular. Everyone wants to have their own house. Now it will be relatively easy to buy a house, because there is a provident fund. Through the provident fund, we can borrow a lot of money. But many people are not very clear what the advantages of housing provident fund loans? How much can I borrow? It doesn't matter. Next, let's talk about how much housing provident fund loan we can borrow.

How much can provident fund loan?

The amount of provident fund loan needs to check the specific provisions of your local provident fund management.

1. Loanable amount: 12 times of the balance of the applicant's housing provident fund account participating in the calculation of the amount, and shall meet the following requirements at the same time: the monthly loan repayment amount (the principal and interest calculated according to the equal principal and interest repayment method) shall not exceed 50% of the applicant's housing provident fund deposit base.

2. If there are co applicants and co applicants deposit housing provident fund in the city, the deposit base of housing provident fund shall be the sum of the deposit bases of the applicants and co applicants. Provident fund deposit base: the average monthly income of the employee in the previous year. 2. Not higher than the difference between the total purchase price and the down payment.

3. If the purchased housing is a stock commercial housing (second-hand housing), the applicant shall entrust a real estate appraisal agency recognized by the provident fund to carry out the value appraisal, and take the low value of the purchase contract price and the appraisal price as the total purchase price.

4. If the employee purchases the first house, the down payment proportion shall not be less than 20% of the total purchase price if the house area is less than 90 square meters; if the house area is more than 90 square meters, the down payment proportion shall not be less than 30% of the total purchase price.

5. For a second house, the down payment shall not be less than 60% of the total purchase price. Not higher than the loan limit of single housing provident fund. For individual employees, the loan amount of a single housing provident fund is 500000 yuan. For applicants and co applicants who apply together and deposit housing provident fund in the city, the loan amount of a single housing provident fund is 900000 yuan.

What are the advantages of housing provident fund loans?

1. The interest rate of provident fund loan is preferential. The same amount of loans and repayment period, provident fund loans and commercial loans can be compared to save a lot of interest.

How much can be saved? Because the interest rates in different periods and even in different regions are different, this is not fixed. Generally speaking, the interest rate of housing provident fund loan is about 2 percentage points lower than the benchmark interest rate of housing loan of commercial banks. This percentage point is very large. Of course, it is only a simple calculation. The actual difference will be even greater.

2. Provident fund loan repayment is more flexible and convenient. If the use of provident fund loans to buy a house, the bank's repayment method will be more convenient and flexible than commercial loans to buy a house.

The borrower can determine the repayment amount of each month by himself, but the premise is that the repayment amount of each month should not be lower than the low repayment amount stipulated by the bank. In this way, the borrower can make a reasonable and feasible repayment plan according to his own economic strength, which is convenient for the borrower to arrange his monthly economic expenditure.

For the prepayment of provident fund mortgage loan, the borrower can prepay part or all of the loan principal and interest, and does not need to pay any penalty.

Provident fund is a sum of money handed in by many people in order to buy a house, so the use of provident fund must be clearly understood in advance. Provident fund used to buy a house is very good. What are the advantages of housing provident fund loans? This advantage is more, can save a lot of costs, interest is relatively low. If you are going to use the provident fund loan to buy a house, you have to calculate the amount of the loan in advance. How much can housing provident fund loan? The quota of different people is different, so it can not be generalized. You can go to the local bank for consultation.