Does the conversion from commercial loans to provident fund loans mean early repayment?

the "repayment before loan" method of commercial loans to public enterprises means that after the original commercial loans are paid off (all principal and interest are paid off) by the borrower's self-raised funds and the mortgage is released, the house mortgaged by the original commercial loans (hereinafter referred to as the original mortgaged house) is used as the mortgage guarantee of commercial loans to public enterprises, and personal housing provident fund loans are issued after the approval of the center.

characteristics of repayment before loan:

1. The borrower raises the repayment funds first.

2. after the approval of the commercial loan, the commercial loan shall be repaid first.

3. Release the loan after canceling the original mortgage registration and handling the mortgage registration of the commercial-to-public loan.

problems that should be paid attention to in the process of handling:

1. The borrower must raise enough funds to repay the original commercial loan in advance after the approval of the commercial loan.

2. Only after the borrower's application and the approval of the central provident fund office can the original commercial loan be repaid in advance.

3. The borrower shall complete the relevant procedures such as repaying the original commercial loan in advance and canceling the original mortgage registration within three months from the date when the Approval Form for Personal Housing Provident Fund Loan is issued by the central office of the provident fund, and then go to the central office of the provident fund acceptance office to handle the follow-up procedures for commercial loans. If it is more than three months, the original examination and approval procedures will be invalid.