The difference between mortgage loan and provident fund loan

What's the difference between mortgage loan and provident fund loan? What's the loan interest rate?

Simply put, mortgage is mortgage installment, provident fund loan is a kind of mortgage loan, and the other is commercial loan, both of which are mortgages, and the interest rates are basically around 4.4.

What's the difference between provident fund and mortgage loan? Be sure to understand before buying a house.

This paper explains the difference between provident fund loans and mortgage loans in detail, and sorts out what are one-time loans, commercial loans, provident fund loans, mortgage loans and portfolio loans, hoping to help you choose the payment method when buying a house.

When we buy a house, we mainly have one-time payment, mortgage loan, housing commercial loan, provident fund loan and portfolio loan. At this time, first-time buyers will be at a loss and don't know which way is better and more suitable for them. Provident fund loans and mortgage loans are now more common ways to buy a house with loans. What is the difference between provident fund loans and mortgage loans to buy a house?

Provident fund loans refer to loans enjoyed by employees who pay housing provident fund. According to the state regulations, all employees who have paid the provident fund can apply for provident fund loans in accordance with the relevant provisions of provident fund loans.

Mortgage loan refers to the personal housing loan business in which the purchaser takes the purchased house as collateral and the real estate enterprise that purchased the house provides regular guarantee.

What is the difference between provident fund loans and mortgage loans to buy a house?

1, the biggest difference between provident fund loans and mortgages is the difference in interest rates. The interest rate of provident fund loan is low in the current housing loan interest rate. Using provident fund loans to buy a house can help buyers reduce the cost of buying a house.

2. Provident fund loans can only be applied by people who remit the provident fund normally, and those who have no provident fund or remit abnormally cannot apply for provident fund loans.

3. Provident fund loans have a high limit, and the limit standards are different in different parts of the country.

4, provident fund loans should usually be determined after the relevant mortgage guarantee, before lending.

5. Provident fund loans are entrusted loans, and banks are generally only entrusted agents. Borrowing funds and interest income do not belong to banks. Mortgage loan is a loan issued by the bank itself.

6. Provident fund loans are usually insured in home insurance with corresponding mortgage and notarized accordingly. Mortgage housing loans can be exempted from relevant procedures.

7. Compared with mortgage loans, the procedures of provident fund loans are more complicated.

What are mortgage, commercial loan, provident fund and portfolio loan?

lump-sum payment

One-time payment refers to the payment method that buyers pay loans to developers at one time. General developers will give buyers with one-time payment certain price concessions.

loan on mortgage/security

The popular meaning of "mortgage" refers to the mortgage of loans with pre-purchased commercial housing. It means that the mortgagor transfers the pre-purchased property rights to the mortgage beneficiary (bank) as a repayment guarantee, and after repayment, the mortgage beneficiary transfers the property rights to the mortgagor. Specifically, mortgage loan refers to the loan that the buyer obtains from the bank with the pre-purchased building as collateral, and the buyer pays the bank in installments according to the repayment method and time limit agreed in the mortgage contract; Banks charge interest at a certain rate. If the lender defaults, the bank has the right to take away the house.

Housing commercial loan

Personal housing commercial loans are self-operated loans issued by banks with their credit funds. Specifically, a natural person with full capacity for civil conduct applies to the bank for a commercial housing loan as a loan repayment guarantee when purchasing a self-occupied house in a town in this city, with the purchased property housing (or other guarantee methods recognized by the bank) as collateral. Mortgage loan is a kind of commercial loan. Personal housing commercial loan is a kind of loan that China citizens apply to the bank for the purchase of commercial housing. According to the relevant regulations of the bank, anyone who meets one of the following two conditions can apply for loan varieties: first, residents who participate in housing savings; Second, the house seller has an agreement with the loan bank, and the real estate guarantee enterprise provides guarantee to the bank for the residents' house purchase loan.

Provident fund loan

Employees who have permanent residence in local towns, have established the housing provident fund system for more than 2 years and paid the housing provident fund in accordance with the regulations can enjoy the provident fund loan if they have insufficient funds when purchasing or building houses or renovating or overhauling their own houses. The loan conditions are as follows: the total amount of provident fund paid by the borrower and his family members reaches at least 30% of the newly purchased (overhauled) housing expenditure; The lender has a stable economic income and the ability to repay the principal and interest; The borrower agrees to apply for housing mortgage registration insurance; Provide the local housing fund management and guarantee methods agreed by the sub-branch; At the same time, submit relevant documents required by the bank, such as house purchase contract or house pre-sale contract, real estate license, land use certificate, deposit certificate of provident fund, etc.

Consortium lending

Personal housing portfolio loan refers to the borrower who meets the conditions of a bank's personal housing commercial loan and pays the housing provident fund at the same time. While handling commercial loans for individual housing, you can also apply to the bank for personal housing provident fund loans. That is, the borrower takes the purchased urban self-occupied housing in this city as collateral, and the bank issues personal housing loans to the same borrower at the same time to purchase the same set of self-occupied ordinary commodity housing, which is a general term for policy and commercial loan portfolios.

This paper explains the difference between provident fund loans and mortgage loans in detail, and sorts out what are one-time loans, commercial loans, provident fund loans, mortgage loans and portfolio loans, hoping to help you choose the payment method when buying a house.

What's the difference between provident fund loans and mortgage loans?

The difference between provident fund loans and mortgage loans;

1。 The biggest difference between provident fund loans and mortgages lies in the different interest rates. The interest rate of provident fund loan is the lowest among the current housing loan interest rates. Using provident fund loans to buy a house can help buyers reduce the cost of buying a house.

2 to provide provident fund loans, only those who usually collect provident fund can apply. People without provident fund or abnormal remittance cannot apply for provident fund loans.

3. There is a maximum amount of central provident fund loans, and the quota standards are different in different parts of the country.

4, provident fund loans should generally be determined before the loan related mortgage guarantee. Provident fund loans are principal loans. Banks generally only entrust this institution. The loan funds and interest income are not owned by the bank. Mortgage loan is a loan issued by the bank itself.

5. Provident fund loans should generally be insured according to the corresponding mortgage home insurance, and the corresponding notarization procedures should be handled. Mortgage housing loans are exempt from relevant procedures.

6. Provident fund loan scheme is more complicated than mortgage loan. Housing provident fund loan refers to the housing provident fund paid by the local housing provident fund management center, which is used to pay the housing provident fund paid by employees, and entrusts commercial banks to pay the housing provident fund for employees and retirees who paid the housing provident fund during their employment.

Mortgage loan refers to mortgage loan business. For example, housing mortgage loan is a kind of personal housing loan business, and buyers provide phased guarantee to real estate companies with the purchased houses as collateral. The so-called mortgage refers to the mortgage of the mortgagor's transfer of property rights, and the beneficiary is the guarantor of repayment. After the mortgagor repays the loan, the beneficiary immediately transfers the property right of the mortgaged property to the mortgagor. In this process, the mortgagor has the right to use.

What is the difference between provident fund loans and mortgage loans to buy a house?

The biggest difference between provident fund loans and mortgage loans is that the interest rate is low, and the interest generated by loans with the same term will be much less, which is the best choice for housing loans. The relevant provident fund loans are summarized as follows.

I. Materials required for housing provident fund loans:

1.

Household registration books of the borrower and his spouse;

2.

Resident identity cards of the borrower and his spouse;

3.

Proof of the marital status of the borrower;

4.

Proof of down payment for house purchase;

5.

Credit status report of the borrower and his spouse printed by the bank;

6.

Housing sales contracts or agreements that comply with the law.

The second is the conditions for handling housing provident fund;

1.

Individuals and their units must continue to pay housing provident fund for one year;

2.

The borrower has stable economic income, good credit and the ability to repay the principal and interest of the loan;

3.

Where the borrower purchases a commercial house, it shall not be less than 30% of the total house price.

Three, the housing provident fund management process:

1.

The lender prepares the relevant materials, fills in the loan application in the bank and submits the materials;

2.

After receiving the application, the loan bank shall confirm and review the information;

3.

After the audit, the loan bank contacts the lender and signs the relevant contract;

4.

For bank loans, the lender shall fulfill the repayment obligation.

Four, housing provident fund loans query method:

1.

After most banks open online banking for their monthly payment cards, they can find mortgage repayment records and loan balances on online banking;

2.

Through the telephone banking 955 service hotline, through the bank's manual customer service inquiry;

3.

Inquire about personal credit institutions, print personal credit report, and the credit report will also show the loan balance. With my ID card, go to the personal loan center where the bank issues loans to find the account manager to inquire;

4.

If you clearly know the time of interest rate adjustment and the current interest rate, you can also set up a professional loan calculator to calculate the monthly payment yourself.