Can I use the housing provident fund loan for renovation?

Yes, but it must meet the conditions of the provident fund renovation loan:

1. The lender must have permanent residence or valid residence status in this city;

2. Push forward from the date of application, and pay the housing provident fund in full for more than 2 months (if both husband and wife pay the provident fund, only one person is allowed to borrow);

3. There are contracts (agreements) and related materials for purchasing houses, building houses and overhauling self-occupied houses according to law;

4. There is a certain proportion of self-raised funds. For the purchase of commercial housing and affordable housing, the self-raised funds shall not be less than 20% of the total house price (for the purchase of second-hand houses or the construction and overhaul of houses, the self-raised funds shall not be less than 30% of the total house price);

5. Have a stable economic income and the ability to repay the loan principal and interest (monthly income certificate issued by the unit);

6. Agree to use the purchased house or the house with complete property rights or the house of a third party as collateral, or use securities or bank time deposit certificates recognized by the loan bank as collateral, or provide guarantees by legal persons, organizations or third parties recognized by the loan bank.

Application materials for provident fund renovation loan

1, identification of the borrower and spouse (ID card, household registration book, marriage certificate or divorce certificate, court judgment, ruling, unmarried or divorce certificate issued by the unit, etc.). );

2. Proof of stable economic income (proof of unit wage income, etc.). );

3, housing provident fund deposit certificate;

4. The purchase contract and agreement signed with the selling unit (approved by the land planning department of self-built housing);

5. I and my spouse * * * fill in the loan application approval form;

6. There must be a receipt for the house payment (down payment) of not less than 20% of the total house payment (self-financing proof of not less than 30% of the total house payment is required for the purchase of private houses, construction and overhaul of self-occupied houses);

7. List of pledge rights and ownership certificate issued by the borrower (or written commitment issued by the guarantor agreeing to provide guarantee).

Provident fund renovation loan process

Step 1: Apply

1. For the purchase of commercial housing and affordable housing, when signing the purchase contract with the selling unit, the selling unit shall receive the Approval Form for Housing Provident Fund Loan Application, fill in the form and prepare relevant materials to determine the loan amount; 2, construction, overhaul from the housing, with the approval documents of the land, planning and management departments, to apply for loans to the housing provident fund management center; 3. Buy private houses (second-hand houses) with complete property rights and apply to Changfang Replacement Guarantee Co., Ltd. ..

Step 2: Review

The unit or guarantee company will submit the borrower's information together with the purchase contract, down payment receipt and other materials to the Municipal Housing Provident Fund Management Center for review.

Step 3: Sign a loan contract.

After the examination and approval of the housing provident fund management center, notify the borrower to sign a loan contract with the bank. And handle the contract notarization, collateral insurance and other related procedures.

Step 4: Guarantee

1. Where the commercial housing and affordable housing built by the developer who signed the Housing Provident Fund Loan Cooperation Agreement with the Center are purchased, the developer shall undertake joint and several liability guarantee for the borrower by stages before the house is formally mortgaged; 2. If you buy a second-hand house with a property right certificate and a land certificate, you can go directly to the mortgage department of the city real estate trading center for mortgage registration, and go through the relevant formalities of other house ownership certificates at the property right registration and certification center; 3. If the second-hand house is purchased with a title certificate and no land certificate, the guarantee company shall bear the guarantee responsibility.

Step 5: Bank Lending: After the borrower completes all the above procedures, the Center will issue a decision on granting the loan to the entrusting bank and notify the bank to lend.

Step 6: Repayment

The borrower shall repay the bank every month according to the monthly repayment amount agreed in the loan contract.