For those who pay housing provident fund, the provident fund can not only be used to deduct the down payment for buying a house, but can also be used for renovation loans, which is an indispensable benefit.
Many friends don’t know what conditions are required for provident fund loans for decoration. Next, we will introduce to you the relevant conditions for provident fund loans for decoration. Let’s find out together.
1. What are the conditions for provident fund loan renovation? Provident fund loan renovation refers to the borrower who pays the real estate provident fund in full and on time.
When purchasing, building or renovating a home for owner-occupation, the property purchased or built (or constructed) with all rights or other property is used as a pawn or mortgage.
Or a third party provides a loan to ensure and bear the return of principal and interest, as well as a real estate fund borrowed from the Real Estate Provident Fund Management Center.
1. Provident fund borrowers must have permanent residence or valid residence status in the city.
2. Proceed from the date of loan application and continuously pay the housing provident fund in full for more than 12 months (couples who only pay provident fund only commit to one person borrowing money).
3. Contracts (agreements) and related materials for housing purchase, housing construction and housing renovation that require laws and regulations.
4. Provident fund loans require a certain proportion of self-raised funds.
To purchase commercial housing and affordable housing, self-raised funds must not be less than 20% of the total house price (for purchasing second-hand houses or building houses, or overhauling real estate, self-raised funds must not be less than 30% of the total house price). The self-raised funds here can be no less than 20% of the total house price.
Receipt (down payment) of less than 20% of the total house price.
5. Applicants need to have stable economic income and have the right to repay the principal and interest of the loan (monthly income certificate provided by the unit).
6. Approval to use purchased real estate or own property with full title or third-party property to make a pawn, or use securities approved by the lending bank, bank deposit certificate pledge or legal person, arrangement or the first one approved by the lending bank.
Three persons supply ensured.
2. Provident Fund loan decoration application method 1. Identity certificates of the borrower and spouse (ID card, household register, marriage certificate, divorce certificate, court judgment, ruling, unmarried or divorced unmarried certificate issued by the unit, etc.).
2. Materials proving stable economic income (certificate of unit salary income, etc.).
3. Housing provident fund deposit certificate.
4. Purchase contract and agreement signed with the sales unit (approval of self-built housing land and planning department).
5. The loan application approval form is to be filled out by the person and spouse.
6. There must be receipts for at least 20% of the total price of the house (down payment) (purchases of private housing, construction, and home renovations require the issuance of no less than 30% of the total self-raised funds).
7. List of pledge rights issued by the borrower, proof of ownership (or written commitment from the guarantor to provide guarantee).
The above content is the relevant introduction we bring to you about the conditions required for provident fund loans for decoration and the application methods for provident fund loans for decoration.