Can commercial loans be partially converted into provident fund loans?

Can commercial loans be converted into housing provident fund loans?

Undoubtedly, commercial loans can be converted into housing provident fund loans. Usually, there are two ways to convert commercial loans into provident fund loans. One way is to repay the loan first, and the lender pays off the commercial loan first. The other way is to pay off the loan by loan, and the lender should pay off the difference between the principal and interest balance of commercial loans and commercial loans in advance. Although the bank will say that commercial loans can be converted into provident fund loans, you need to apply for them yourself. It's hard to say whether you can apply. The following question will be explained to you carefully.

I. Information to be provided when commercial loans are converted into provident fund loans

1. Original and photocopy of ID card, household registration book and marriage certificate of the lender and spouse.

2 original and photocopy of the house ownership certificate and state-owned land use certificate of the house purchased by the original commercial loan.

3. The original loan mortgage contract of the house purchased by the original commercial loan and a copy of the commodity (economic) house sales contract or the stock house sales contract;

4. The repayment record of the lender's original commercial loan issued by the original commercial loan bank and the proof of the balance and remaining term of the original commercial loan as of the date of applying for the transfer to the provident fund loan;

5. The housing appraisal report issued by the housing appraisal agency recognized by the management center on the transfer of second-hand housing business loans to provident fund loans;

6. Notarized statement that the co-owner of the house property right agrees to mortgage;

7. A copy of the mortgage certificate of the house purchased by the original commercial loan provided by the original commercial loan bank (the mortgage certificate of the auction house or the house ownership certificate), and stamped with the official seal of the bank;

Two, commercial loans to provident fund loans matters needing attention

1, depending on your remaining repayment period.

If buyers are in the early stage of commercial loan repayment, it is still a good choice to convert commercial loans into provident fund loans at this time, but if they are already in the late stage of repayment, there is no need to convert commercial loans into public loans.

2. Do you consider prepayment?

If the buyers intend to pay off all the loans in advance, then there is no need to consider the matter of transferring commercial loans to provident fund loans. In fact, corporate commercial loans are generally based on the contract with the original bank, and a certain fine may be required after obtaining the consent of the original bank. In addition, the expenses that may be incurred during the transfer of corporate commercial loans may not be cost-effective.

In short, it is more complicated to transfer commercial loans to housing provident fund loans, and everyone can decide whether to transfer them according to their actual situation.

Can a house loan be converted into a provident fund loan?

Housing loans can be converted into provident fund loans, as long as the following conditions are met:

1. The loan business only accepts applications from borrowers or their spouses of original housing loans.

2. The original commercial housing loan has been repaid for more than one year (inclusive), with a good credit record and no overdue behavior.

3. The local housing provident fund has been paid in full and on time for six months or more, and the current housing provident fund account is in a normal state of payment.

4. No provident fund loan has been made or the loan has been settled.

5. The property purchased by the loan has obtained the house ownership certificate issued by the local real estate registration department.

6. The loan amount of the applied commercial loan to the provident fund loan is within the maximum loan amount of the provident fund loan stipulated by the local housing provident fund management center and the balance of the original commercial house purchase loan.

Eligible customers submit a written application for transferring commercial loans to provident fund loans to the local housing provident fund management center, and pay off the difference between the transferred provident fund loans and the remaining loans of the original commercial loans, and then cancel the original mortgage and re-apply.

Can commercial loans be converted into provident fund loans?

Yes, you can. The conditions for transferring commercial loans to provident fund loans mainly include:

1. Continuous repayment of personal commercial loans 1 year or more;

2. Individual provident fund is continuously paid 1 year or more;

3. Houses that are transferred to provident fund loans are required to be registered in the local monetary center and have formal and legal residential development projects;

4. Individuals need to obtain the consent of the original commercial loan bank to convert commercial loans into provident fund loans.

Article 42 of the Commercial Bank Law

The borrower shall repay the loan principal and interest on schedule. If the borrower fails to repay the secured loan at maturity, the commercial bank has the right to require the guarantor to repay the principal and interest of the loan or give priority to the repayment of the collateral. Real estate or equity acquired by a commercial bank due to the exercise of mortgage or pledge shall be disposed of within two years from the date of acquisition. If the borrower fails to repay the credit loan at maturity, it shall bear the responsibility in accordance with the contract.

Can commercial loans be converted into provident fund loans?

Commercial loans can be transferred to provident fund, but the following conditions must be met: 1. Provident funds must be paid normally; 2. The housing accumulation fund has been deposited for more than one month; 3. Stable economic income and repayment ability; 4. Provide approved loan guarantee methods; 5. There are no outstanding loans except commercial loans that have been converted into provident fund loans; 6. The "House Certificate" or "House Pre-registration Certificate" involved in the transfer of commercial loans to provident fund has been issued, and mortgage registration procedures can be handled.

Can commercial loans be converted into housing provident fund loans?

Customers who have already applied for commercial loans can be converted into provident fund loans as long as they meet the following conditions:

1. The local housing accumulation fund is paid normally.

2. The repayment of the original commercial housing loan is over 1 year (inclusive), and the credit record is good.

3. The loan business only accepts the application of the borrower or spouse of the original housing loan.

4. The purchased property has obtained the house ownership certificate issued by the local real estate registration department.

5. The borrower has not applied for provident fund loans before.

Commercial loans are loans used to supplement the working capital of industrial and commercial enterprises, usually short-term loans with a term of 9 months. Such loans are the main part of commercial bank loans, generally accounting for more than one third of the total.

Commercial loans, also known as individual housing loans, are loans provided by commercial banks and housing savings banks approved by the People's Bank of China for urban residents to purchase ordinary housing for their own use.

Precautions:

1. Submit a loan application: When you have signed a house sales contract, you can apply for a commercial loan from the bank. Whether it is a first-hand mortgage or a second-hand mortgage, it is necessary to submit the complete materials approved by the bank to the bank for review, which is the most important step in the commercial loan process.

Mainly including ID card, household registration book, original and copy of marriage certificate; Foreign household registration needs to provide temporary residence permit or residence permit; Income certificate issued by the work unit; Sales contract, down payment invoice or receipt; Wage flow or other proof of assets in the past six months. In addition to the above five materials, different banks have different requirements for commercial loans, and other materials required by loan banks should be inquired in detail.

2. Investigation accepted by the bank: After receiving the application materials of the loan applicant, the bank will review the materials. The general review time for commercial loans is 15 working days, and the longest time shall not exceed 1 month.

During the bank investigation, the loan applicant will be asked to supplement some information according to the situation. Therefore, the loan applicant needs to keep in touch with the bank during this period.

3. Bank verification and approval: the loan bank will verify several aspects: the situation of the house, the qualification and credit status of the borrower, etc. This is an important link in the process of commercial loans. If the credit of the loan applicant is not good, it will directly lead to the failure of the loan application, so it is very important to accumulate good personal credit in life.

4. Both parties shall go through relevant formalities: the bank informs the loan applicant that after the loan is approved, it is necessary to open an account in the bank, get a debit card and sign a loan contract. At the same time, handle mortgage, guarantee, pledge, insurance and other related guarantee procedures. When signing a loan contract and handling the guarantee formalities, you must know the detailed rules in the contract in detail and make clear your rights and obligations so as to avoid unnecessary misunderstanding.

5. Bank loan: After all loan procedures are completed, the bank transfers the loan funds to the account of the real estate developer, and the loan relationship is established, and the lender repays the loan according to the regulations.