What is the difference between a provident fund loan and a c
It is always the pain of the wages of the wages in the hearts of the wages and ghosts. Buying a house has become a distant dream. Therefore, using a provident fund loan to buy a house has become a new choice for buyers. What is the commercial loan and provident fund loan? What is the difference between them? Let the loan mother give us some science. First of all, the “Personal Housing Guarantee Loan Measures” customized by the housing provident fund management agency and the “Personal Housing Management Measures” promulgated by financial institutions such as banks are, at first glance, loans for the lack of funds in the purchase of houses, but both. There are still differences between the loan objects: the housing mortgage loan service provided by the housing provident fund management agency is for the depositor of the housing provident fund and the retired employees of the remittance unit. The loan target must have the following conditions: 1. Continue to deposit the 6-month housing provident fund or have been deposited for more than 24 months and continue to deposit. 2. Have a stable career and have the ability to repay the principal and interest of the loan. 3. Hold the contract to purchase the house or relevant supporting documents. 4. Provide the guarantee method agreed by the housing fund management center and its sub-center 5. Meet other conditions stipulated by the housing fund management center. The housing mortgage loan issued by the general financial institution shall be a natural person with full civil capacity, that is, not limited to the depositor of the housing provident fund and the retired employee, that is to say, the scope of the object is larger than the former. The loan amount is different. The maximum loan amount of a mortgage loan issued by a general financial institution cannot exceed 80% of the purchase price. The loan procedures are different. The provident fund loan must first go to the housing fund management center to apply, and accept the initial review of the housing fund management center. After passing the certificate, the housing fund management center will issue a certificate to apply for the provident fund loan. Therefore, the procedures for provident fund loans are more complicated than the procedures for general housing loans. After the borrower signs the contract for the purchase of the house, the commercial loan can be handled directly by the relevant bank management agency or the developer who has signed a cooperation agreement with the bank. The interest rate of the loan is different. The interest rate of the provident fund loan is based on the national interest rate plus the specified interest rate spread. Provident fund loans have more evaluation fees than commercial loans. Commercial loans do not need to be assessed, but the use of provident fund loans to purchase commercial housing must be evaluated and paid for evaluation. Commercial loans have more legal fees than provident fund loans. The commercial loan entrusts a law firm to conduct a credit investigation on the borrower, the lawyer charges a lawyer's fee of 4 baht, and the provident fund loan does not require the individual to pay the attorney's fee. After the above analysis, it can be concluded that although the housing provident fund management agency imposes restrictions on the loan target, it is limited to the depositor and retired workers of the housing provident fund, and the loan procedures are slightly complicated; the interest rate is higher than that of the general financial institution. The interest rate is lower, but an additional evaluation fee is required; the commercial loan procedure is simple, the application conditions are loose, and the lawyer's fee is also charged. There are pros and cons between the two, and which loan method is best for you. I believe that you have the answer.