First, the loan object is different. Housing mortgage loans issued by housing provident fund management institutions are targeted at the depositors of housing provident fund and retired employees of remittance units, and the loan targets must meet the following conditions:
1. The housing accumulation fund has been continuously paid for 6 months or has been paid for more than 24 months and is still being paid.
2 have a stable occupation and income, and have the ability to repay the principal and interest of the loan.
3. Have a house purchase contract or relevant supporting documents.
4 provide housing provident fund management center and its sub-centers agreed to guarantee.
5, in line with other conditions stipulated by the housing fund management center.
The object of housing mortgage loans issued by general financial institutions should be natural persons with full civil capacity, that is, not limited to housing provident fund depositors and retired employees, that is to say, its object scope is larger than the former.
Second, the loan amount is different. The maximum loan amount of housing mortgage loans issued by general financial institutions shall not exceed 80% of the purchase price.
Third, the loan procedures are different. Provident fund loans must first apply to the housing fund management center and accept the preliminary examination of the housing fund management center. After passing the preliminary examination, the housing fund management center shall issue a certificate before handling the provident fund loan. Therefore, the procedures of provident fund loans are more complicated than general housing loans. After signing the house purchase contract, the borrower can directly handle the commercial loan by providing relevant materials to the relevant bank agency or the developer who signed the cooperation agreement with the bank.
Fourth, the loan interest rate is different. The interest rate of provident fund loan is based on the interest rate of housing provident fund, plus the prescribed spread in accordance with state regulations.
Five, provident fund loans than commercial loans to collect assessment fees. Commercial loans do not need to be evaluated, but the purchase of commercial housing with provident fund loans must be evaluated at present and the evaluation fee must be paid. Commercial loans cost more lawyer fees than provident fund loans. For commercial loans, law firms are entrusted to conduct credit investigation on borrowers, and lawyers charge 4‰ lawyer fees, while provident fund loans do not require individuals to pay lawyer fees.
From the above analysis, it can be seen that although the housing provident fund management institutions have restricted the loan targets, they are only limited to housing provident fund depositors and retired employees. The loan procedure is also a bit troublesome, but the mortgage interest rates issued by the housing provident fund management institution is lower than the housing mortgage interest rates issued by general financial institutions. Therefore, it is still a very favorable and popular loan form.