Ordinary residences aged ≥2 years are exempt from business tax
Land value-added tax
Ordinary residences owned by individual residents are temporarily exempt from land value-added tax when they are transferred Tax
Deed tax
For individuals who purchase ordinary residences for their own use, a deed tax of 1.5% of sales is temporarily levied
Stamp tax
Commercial housing sales are based on sales Examples of 50% levied on buyers and sellers
What basic conditions should be met when applying for a housing provident fund personal home purchase loan?
The basic conditions for applying for a housing provident fund home purchase loan mainly include three aspects: Loan Let’s analyze the objects, loan purposes, and basic conditions of housing loans in detail below:
1. Loan objects should meet the following four conditions:
(1) Only those who participate in the housing provident fund system Only employees are eligible to apply for housing provident fund loans. Employees who have not participated in the housing provident fund system cannot apply for housing provident fund loans.
(2) Those who participate in the housing provident fund system must also meet the following conditions to apply for a housing provident fund personal home purchase loan: that is, they must have continuously paid and deposited the housing provident fund for no less than six months before applying for a loan. This is because if employees’ behavior of paying housing provident funds is abnormal and intermittent, it means that their income is unstable and risks will easily arise after the loans are issued.
(3) If one spouse applies for a housing provident fund loan, neither spouse will be able to obtain a housing provident fund loan again before the spouse has repaid the principal and interest of the loan. Because housing provident fund loans are financial support provided to meet the basic housing needs of employee families, and are a type of "housing security" financial support.
(4) When applying for a housing provident fund loan, the loan applicant must not only have a relatively stable economic income and the ability to repay the loan, but also have no unpaid loans with a large amount that may affect the housing provident fund loan. Ability to repay other debts. When employees are burdened with other debts, granting housing provident fund loans is very risky and violates the principle of safe operation of housing provident funds.
2. The purpose of the loan must be earmarked:
The purpose of housing provident fund loans is limited to the purchase of self-occupied housing with ownership, and the housing purchased should comply with the construction regulations of the Municipal Provident Fund Management Center design standards. Employees who purchase housing with right-of-use rights cannot apply for housing provident fund loans.
3. Meet the conditions required for a general housing loan:
Applicants for housing provident fund loans should have self-raised funds equivalent to 20% or more of the purchase price of the house; housing provident fund loans Applicants should agree to process loan guarantees, etc. These are needed to reduce the risk of housing provident fund loans.
The following procedures should be followed when applying for a housing provident fund loan:
(1) The borrower applying for a housing provident fund loan needs to submit a written application to the Municipal Housing Provident Fund Management Center, fill in the housing provident fund loan application form and Provide relevant information truthfully.
(2) The Municipal Housing Provident Fund Management Center is responsible for reviewing the borrower’s qualifications, guarantor’s qualifications, loan amount and loan period, and after filling in and agreeing to the contract, the borrower signs the relevant contract or agreement with the center, and shall The People's Bank of China stipulates the application of insurance.
(3) After the loan procedures are completed, the Municipal Housing Provident Fund Management Center will issue a loan approval notice to the bank, and the bank will handle the loan transfer procedures after receiving the loan notice.
Buying a house with a provident fund loan - three tips for you
For the working class, using a provident fund loan is the best choice for buying a house. Many people know that insurance is often involved in the process of applying for a loan. But not everyone has a clear understanding of all aspects of mortgage insurance. Here, we hope to give you some help in this regard.
Purchasing house insurance is voluntary, but life insurance is compulsory
To ensure the safe repayment of the loan, home buyers who applied for provident fund loans before December 29, 2001 must provide five types of guarantees. But in fact, most people use the method of "mortgage plus purchase of comprehensive insurance".
In this kind of insurance, the insurance premium of house property insurance includes: loan amount × annual insurance rate × conversion present value coefficient personal insurance loan amount × (main insurance insurance rate + additional unemployment insurance premium Rate). In house property insurance, any individual borrower with a loan period of 1 to 5 years (including 5 years) will purchase insurance according to the insurance premium level of the corresponding personal loan period.
The insurance premiums for personal insurance include: (1) For borrowers with a loan period of 1-4 years (including 4 years) and who have not completed the mortgage registration procedures, the insurance will be based on a personal loan period of 3 years. Purchase insurance at the same rate (the same rate for 1-3 years). (2) Borrowers with a loan term of more than 5 years (including 5 years) and who have not completed the mortgage registration procedures can first purchase insurance based on the insurance premium level with a loan term of 5 years. After the insurance expires, if the borrower has not completed the mortgage registration procedures, the borrower needs to continue to purchase insurance. If the remaining loan term is less than 5 years, the purchase will be based on the actual remaining years; if it is more than 5 years (including 5 years), the purchase will be based on the 5-year term. And so on until the loan is paid off or the mortgage is registered.
The government provides guarantees and loan fees are reduced
For example, the first four home buyers passed the guarantee, with an average loan amount of 280,000 yuan and an average loan period of 10 years. If guaranteed by purchasing insurance, the per capita expenditure will be about 7,702 yuan. If the loan is guaranteed by the government, the per capita expenditure of the borrower will be only 2,077 yuan. When an individual applies for a housing loan, the Guarantee Center provides a full-process irrevocable joint liability guarantee for the individual housing loan, and the individual mortgages the purchased house to the Guarantee Center through a counter-guarantee. When a home buyer is overdue in repaying the loan, the guarantee center will perform the joint and several guarantee obligations and repay the remaining principal and interest obligations of the loan. The Guarantee Center also negotiates principal and interest with the Housing Provident Fund Management Center and the trustee bank, changes the loan terms, and rearranges the repayment period. On the premise that the borrower guarantees to repay the loan interest on time, the borrower's current repayment pressure is reduced, and the borrower's repayment ability is improved by providing employment training, etc. Alternatively, the guarantee center may flexibly arrange a repayment plan or provide turnover housing based on the specific circumstances on the premise that it has the right to dispose of the mortgage. Then, the original house will be auctioned to recover the remaining loan principal and interest. For borrowers who maliciously fail to repay, legal measures such as litigation will be taken to enforce their repayment responsibilities.
After completing the mortgage registration, you must obtain the housing certificate yourself
Many people have bought a house through provident fund loans and have moved in, but they have never seen the property ownership certificate. The problem is that everyone seems to think that the title deed should be held by the bank until the loan is paid off. In fact, even if you take out a mortgage loan, you should still hold the property ownership certificate in your own hands, and the bank should hold the "other property ownership certificate". Home buyers can also rely on the mortgage registration procedures to refund part of the premiums originally purchased from the insurance company as required. In fact, as long as the home buyer fills out the application form as required, the procedure is not troublesome: the bank manager and the home buyer will go to the housing ownership management department where the house is located to confirm that the materials are complete and correct, and then submit the mortgagor’s house ownership certificate. Note the mortgage situation on it, fill in the "Other Property Rights Certificate", and stamp the special mortgage registration seal.
How are the mortgages, pledges and guarantees of housing provident fund loans regulated?
Answer: Employees’ housing provident fund loans are guaranteed by real estate mortgage, securities pledge and third-party guarantee.
(1) If the real estate is used as mortgage, the borrower shall take the provident fund loan contract, the real estate mortgage contract and the "House Ownership Certificate" to the municipal real estate management department to register other housing mortgage rights. The municipal real estate management department will issue the "Other Property Rights Certificate", and the borrower will hand over the "Other Property Rights Certificate" to the Municipal Housing Provident Fund Management Center for custody.
(2) If securities are pledged, the owner of the securities shall sign a pledge contract with the Municipal Housing Provident Fund Management Center, go through the procedures for freezing the securities, and submit the original documents of the securities and the freezing procedures to the center. Loans are issued after filing.
(3) The guarantee method of third-party guarantee is mainly for the guarantor to fill in and provide a second housing guarantee commitment letter.
What types of housing loans are there?
The financial arrangement of home purchase loan funds involves a wide range of contents, but the most important ones are nothing more than the amount (percentage) and term of the home purchase loan. and interest rates. Before introducing the above three major issues, it is necessary to once again explain to home buyers the three current loan methods: personal housing loans (ie: commercial loans), personal housing entrusted loans (ie: provident fund loans) and personal housing portfolio loans.
Personal housing provident fund loans are commercial loans provided by commercial banks; personal housing entrusted loans are policy loans issued by commercial banks entrusted by the provident fund management center; personal housing portfolio loans are a combination of the first two.
1. Housing provident fund loan: For residents who have participated in paying housing provident fund, housing provident fund low-interest loans should be the first choice when purchasing a house. Housing provident fund loans have a policy subsidy nature, and the loan interest rate is very low. It is not only lower than the commercial bank loan interest rate in the same period (only half of the commercial bank mortgage loan interest rate), but also lower than the commercial bank deposit interest rate in the same period. That is to say, under the housing provident fund, There is a spread between mortgage rates and bank deposit rates. At the same time, the fees for housing provident fund loans are halved when handling related procedures such as mortgage and insurance.
2. Personal housing commercial loans: The above two loan methods are limited to employees of units who have paid housing provident funds, and there are many restrictions. Therefore, people who have not paid housing provident funds are not eligible to apply for loans, but they can apply. Commercial bank personal housing guaranteed loans, that is, bank mortgage loans. As long as the balance of your deposit in the lending bank accounts for no less than 30% of the funds required to purchase a house, and you use this as the down payment for purchasing a house, and you have assets recognized by the lending bank as mortgage or pledge, or you have sufficient repayment ability. If an organization or individual acts as the guarantor to repay the principal and interest of the loan and assumes joint liability, then you can apply for a bank mortgage loan.
3. Personal housing portfolio loans: The maximum limit of provident fund loans that can be issued by the housing provident fund management center is generally 100,000 to 290,000 yuan. If the purchase price exceeds this limit, the shortfall must be applied to the bank for housing commercialization loan. Together, these two loans are called a portfolio loan. This business can be handled uniformly by the real estate credit department of a bank. Portfolio loans have moderate interest rates and larger loan amounts, so they are often chosen by borrowers.
Personal housing entrusted loans (provident fund loans) are the most cost-effective, and personal housing loans (commercial loans) have the heaviest interest burden, but how big is the specific repayment difference? We might as well make a comparison:
Assume that a couple of home buyers want to purchase a house with a total price of 500,000 yuan. They use their own funds to pay 30% of the down payment, which is 150,000 yuan, and apply for a 15-year loan for the remaining 350,000 yuan. The couple's monthly income is 6,000 yuan, and the monthly provident fund contribution ratio is 20% (the company and the individual each pay half), and the current total provident fund is 40,000 yuan. The interest burden of commercial loans is much higher than that of policy loans, reaching 1/3. The monthly repayment amount is 10% more, and the total amount is nearly 50,000 yuan more, which is not a small sum. From this point of view, it is natural to choose a personal housing entrustment loan, but no, the couple cannot rely entirely on a personal housing entrustment loan. Even if their existing provident fund reaches 40,000 yuan, they can still apply for it at a lower rate of 10 times. Provident fund loan of 400,000 yuan, but because the maximum limit of policy loans is only 300,000 yuan, 350,000 yuan is still not allowed. Therefore, the couple resorted to the next best option and opted for a personal home portfolio loan. So, can their monthly repayment burden be affordable? It is said that their monthly repayment is 2,781.45 yuan, but part of it can be offset by the provident fund they deposit every month during the repayment period. The amount can reach up to 20% of the total income, that is, 1,200 yuan/month. Then they need to pay it themselves The mortgage payment paid is only (2781.45-1200) 1581.45 yuan/month, which is very light compared to their monthly income of 6000 yuan. However, if there is no provident fund support and you rely entirely on commercial loans, the monthly repayment burden will still be relatively heavy, but the housing payment burden, which accounts for about 50% of the total income, is still acceptable. It is recommended that home buyers make careful calculations when determining their home purchase budget and list several options to compare before applying for a corresponding loan.