What are the benefits of buying a house with social security provident fund?

It has many advantages such as reducing the cost of buying a house, increasing the loan amount, giving priority to buying a house and enhancing the confidence of buying a house. First, reduce the cost of buying a house.

Property buyers with social security provident fund can often enjoy lower interest rate concessions when applying for mortgages. Because the interest rate of provident fund loans is usually lower than that of commercial loans, buyers can reduce the cost of buying houses and reduce economic pressure through provident fund loans. In addition, some cities have also introduced a floating policy of provident fund loan amount, which enables buyers to borrow more funds and further reduce the down payment ratio.

Second, increase the loan amount.

Social security and provident fund payment records are an important basis for banks to evaluate the credit status of buyers. Continuous payment of social security and provident fund for a certain period of time will help buyers get a higher loan amount. In this way, buyers can buy more ideal real estate and meet their living needs.

Third, give priority to purchasing qualifications.

In some popular cities, buyers with social security provident fund may have the priority to purchase houses. This is because in order to protect the housing needs of local residents, the government usually formulates relevant policies to give certain preferential treatment and inclination to buyers who pay social security and provident fund continuously.

Fourth, enhance confidence in buying a house.

Property buyers with social security accumulation fund are more likely to gain the trust of banks and other financial institutions in the process of buying houses because of their certain economic strength and credit history. This will help to enhance the confidence of buyers, so that they can face the challenges in the process of buying houses more calmly.

To sum up:

Buying a house with social security provident fund has many advantages, such as reducing the cost of buying a house, increasing the loan amount, giving priority to buying a house and enhancing the confidence of buying a house. For property buyers, making full use of social security and provident fund system will help to better realize their housing dreams.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 2 provides that:

The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance, so as to guarantee citizens' right to receive material assistance from the state and society in accordance with the law when they are old, sick, injured, unemployed and have children.

Housing accumulation fund regulations

Article 2 provides that:

These Regulations shall apply to the deposit, withdrawal, use, management and supervision of housing provident fund in People's Republic of China (PRC). The term "housing accumulation fund" as mentioned in these Regulations refers to the long-term housing savings paid by state organs, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions, private non-enterprise units and social organizations (hereinafter referred to as units) and their employees.