Provident fund loans have obvious advantages over commercial loans.
Compared with commercial loans, provident fund loans account for a high proportion and the down payment pressure is small. Generally, commercial loans can only reach 70%, and the down payment pressure of buyers is relatively high, and the longest loan period of commercial loans can only be 25 years, and most second-hand houses can only be loaned for 20 years, so the monthly supply pressure is relatively high. Provident fund loans can reach up to 80%, and buyers have less down payment pressure. The longest loan period can also reach 30 years, with low monthly pressure and long loan period. "Luo Yu, head of Beijing Xinyi Real Estate Marketing Department, said that low interest rates and low interest expenses are also obvious advantages of provident fund loans. With the same loan amount and repayment period, provident fund loans can save tens of thousands of yuan in interest than commercial loans. If Mr. Zhang borrows a commercial loan for 20 years and repays 2 1 1.4 yuan on average, he will repay 506,736 yuan in 20 years and pay 206,736 yuan in interest. It is also a provident fund loan with a term of 20 years, with an average monthly repayment of 19 12.5 yuan. The total repayment in 20 years is 459,000 yuan, and the total interest paid is159,000 yuan. Compared with commercial loans, the monthly payment can be reduced by 198.5 yuan, and the interest expense can be saved by nearly 47,733 in 20 years. By comparison, it can be seen that provident fund loans have obvious advantages over commercial loans.
At the same time, the cost of provident fund loans is lower than that of commercial loans. At present, the evaluation fees of commercial loans and provident fund loans are the same, but the difference is that commercial loans need to pay insurance premiums and attorney fees, while provident fund loans only need to pay guarantee fees. Through the comparison of various fees paid, it can be seen that the cost of provident fund loans can be 33.9 yuan less than that of commercial loans.
Free repayment should avoid late pressure.
At present, the repayment method of provident fund is free repayment. The housing provident fund management center gives the minimum repayment amount according to the loan amount and term of the customer. On the premise that the monthly repayment amount is not lower than this minimum repayment amount, you can freely arrange the repayment method of the monthly repayment amount according to your own economic situation.
Although the free repayment method is flexible, the minimum amount can alleviate the initial or temporary economic pressure, but it is not suitable for a long time. Property buyers should make a reasonable repayment plan. If the balance of the provident fund account is large, they should try their best to repay and reduce interest, otherwise the pressure will be even greater later. For example, a 20-year loan with a term of 300,000 yuan and the minimum repayment amount is 1493 yuan. If the minimum repayment amount is kept, the final principal will be as high as 1, 653,79.84 yuan.
For this repayment method, it is unreasonable to repay according to the minimum monthly repayment amount because of the large repayment amount and great pressure within the time limit. Experts suggest that when using provident fund loans, if the minimum repayment amount is not lower than the minimum repayment amount, if the lender has the ability to pay, it is best to pay more each time, which not only reduces the pressure on the lender, but also reduces the total interest on repayment.
When it comes to the specific ways to repay the loan from the provident fund, the lender has two choices: "one-time repayment method" and "monthly repayment method" One-time repayment is to use the extracted housing provident fund balance to return the loan balance at one time; Monthly repayment is a way to directly withdraw the deposit balance from the customer's provident fund account every month to repay the loan principal and interest of the month. The borrower should make a reasonable choice according to the balance of funds in his provident fund account and the specific circumstances of the loan.
There are many algorithms for discount loans.
Because there is a maximum amount of provident fund loans, if the loan amount exceeds the maximum amount of provident fund loans, you need to use discount loans. The so-called discount loan refers to an investment method of using provident fund and commercial loans to buy real estate at the same time. The repayment methods of discount loans include equal principal and interest and average capital. The choice of repayment method needs to be decided according to one's own economic situation. The average capital repayment pressure in the early stage is high. Matching principal and interest is characterized by the same monthly repayment amount, which is conducive to the formulation and implementation of financial planning.
How to repay the discount loan? At present, when prepayment is made under the condition of discount loan, the amount of discount part and non-discount part in prepayment is determined according to the proportion of discount part and non-discount part initially determined, provided that the amount of commercial loan is reduced as much as possible. But whether to repay in advance depends on the proportion of provident fund, commercial loans and discount interest in the loan amount.
"If the commercial loan amount is small and the discount rate is large, or the commercial loan amount is large and the discount rate is large, it is not appropriate to repay in advance." For example, Jin said that if Mr. Li applied for a discount loan in 2005, the current loan balance is 400,000 yuan, and the remaining loan term is 15, of which the provident fund loan amount is 350,000 yuan and the commercial loan amount is 50,000 yuan. At the beginning, the ratio of discounted part to non-discounted part was 9: 65,438+0.
After raising interest rates, Mr. Li intends to repay 654.38+10,000 yuan in advance, so the assessed amount of provident fund repayment is 90,000 yuan, and the commercial loan is 1 10,000 yuan. After early repayment, the commercial loan only deposits more than 5000 yuan of interest.
Due to the small amount of commercial loans and large discount rate, repaying the balance of provident fund with early repayment can not achieve the best purpose of reducing the balance of commercial loans, and the effect of saving interest is not obvious. It doesn't matter if the funds are not abundant. Similarly, a large number of commercial loans and a large discount ratio have limited interest relief for early repayment. Therefore, repayment can be made in advance only if the economic situation permits.
On the other hand, if the commercial loan amount is large and the discount rate is small, or the commercial loan amount is small and the discount rate is small, it is best to choose to repay in advance. Take Mr. Li as an example. If Mr. Li's discount loan balance is 500,000 yuan, and the remaining loan term is 15 years, including 300,000 yuan of provident fund balance, 200,000 yuan of commercial loan balance, and the discount ratio is 6: 4, and Mr. Li plans to repay 654.38+million yuan in advance, then the repayment share of provident fund is 60,000 yuan, and the commercial loan is 40,000 yuan. After prepayment, the balance of commercial loans decreased significantly, and the interest decreased by more than 20,000 yuan. The same is true of small commercial loans and small discount rate. Early repayment should minimize the amount of commercial loans and maximize the advantage of low interest rate of provident fund.
Related links How to apply for provident fund loans
Apply for a loan at the local housing provident fund management center first. The borrower holds a house purchase contract or agreement (copy of the buyer's house sales license; To build or repair a house, you must apply for a housing provident fund loan at the provident fund management centers of cities and counties with the approval document of the government land planning and management department, ID card, housing provident fund savings magnetic card and seal. The use of both husband and wife housing provident fund loans, but also to bring a marriage certificate or other proof of husband and wife relationship, fill in the application form for personal housing provident fund loans. The loan bank shall, according to the borrower's application, evaluate whether the borrower meets the loan conditions, calculate the loan amount and determine the loan term.
Second: sign a loan contract. After the local provident fund management center (or the entrusted bank) approves the borrower's application, the borrower signs a loan contract and a mortgage contract with the provident fund management center (the mortgage contract is signed with real estate mortgage, and the personal guarantee needs to enjoy the provident fund).
Third: those who apply for house mortgage should apply for notarization of real estate mortgage. At that time, you need to bring the real estate license (and land certificate), ID card, marriage certificate, household registration book and its copy in quintuplicate, and go through the relevant formalities of notarization and other house ownership certificates.
Fourth: After the borrower has gone through the mortgage formalities with real estate mortgage, he should submit the loan information together with the loan contract, mortgage contract (pledge contract), house ownership certificate or mortgage certificate to the provident fund management center. At that time, the Provident Fund Management Center will entrust the Housing Information Department of China Construction Bank to transfer the money to your personal account on time.
Luo Yu, head of the marketing department of Xinyi Real Estate Agency Co., Ltd., reminded that buyers should pay attention to the following requirements when applying for second-hand housing provident fund loans.
At the time of application, the borrower and the employer have paid the housing provident fund in full and on time for more than one year, and the borrower and spouse have not applied for the provident fund loan or the provident fund loan has been returned;
The borrower must have permanent residence or valid residence status within the administrative area of this Municipality;
The borrower must have a house purchase contract or agreement, and the down payment meets the relevant requirements;
The borrower must have stable economic income, good credit and corresponding loan repayment ability;
The borrower needs to have assets recognized by the provident fund management center as collateral or pledge. In addition, if consumers want to save time and effort, they can find a brand intermediary to handle the provident fund loan business.