Generally, the provident fund is paid 12 months or more, and you can borrow money to buy a house. Applicants who are preparing for loans must pay the provident fund for 12 months or more continuously to qualify for buying a house, and the provident fund paid within this 12 month must be paid continuously without interruption. Provident fund deposit 12 months or more. After this condition is met, it must be approved by the center. After the approval of the center, the bank will issue the loan to the applicant.
Regulations on the administration of housing provident fund
Article 17
The new employee starts to pay the housing provident fund from the second month after joining the work, and the monthly payment amount is the employee's own salary multiplied by the employee's housing provident fund payment ratio.
The newly transferred employees of the unit shall pay the housing provident fund from the date when the transferred employees pay their wages, and the monthly deposit amount shall be the employee's monthly salary multiplied by the employee's housing provident fund deposit ratio. Article 26
Workers who have paid housing provident fund can apply for housing provident fund loans to the housing provident fund management center when purchasing, building, renovating or overhauling their own houses.
The housing provident fund management center shall make a decision on whether to grant loans within 15 days from the date of accepting the application, and notify the applicant; Where a loan is granted, the entrusted bank shall go through the loan formalities.
The risk of housing provident fund loans shall be borne by the housing provident fund management center.
How long does it take to pay the housing provident fund and use it to buy a house?
Take Chongqing as an example, you can apply for a housing provident fund loan by paying the provident fund in full and on time six months or more before applying for a loan.
Spouses of employees who apply for provident fund loans have paid the provident fund in full and on time for 6 months or more before applying for loans, and they have full capacity for civil conduct and can participate in loans. After the spouse participates in the loan, it is regarded as a provident fund loan.
Employees who own two or more houses under the family name, or the balance of provident fund loans between husband and wife is not settled, may not apply for provident fund loans when buying a house again.
Extended data:
Other provisions of Chongqing housing provident fund loans.
1. The maximum loanable ratio of provident fund loans is 80% of the value of the house purchased. The maximum personal loanable amount of provident fund loan is 400,000 yuan, and the maximum loanable amount paid to employees' families after participating in the loan shall not exceed 1.5 times of the maximum personal loanable amount.
2. The actual loanable amount shall not exceed 25 times of the sum of the balance of the borrower's and spouse's provident fund accounts, and the monthly debt of the borrower's family shall not exceed 50% of his monthly income.
3. The longest term of provident fund loans is 30 years, and the final repayment period shall not exceed 10 years after the statutory retirement age.