How to calculate how much provident fund loan can be calculated?
As house prices continue to rise, provident fund loans have become the first choice for many home buyers. So, how much can the Provident Fund loan? How to calculate it specifically? This article will give you a detailed answer and attach structured data to help you quickly understand the calculation method of provident fund loan amount.
1. Basic conditions for provident fund loans
Before calculating the provident fund loan amount, the following basic conditions need to be met first:
1. Pay and deposit the housing provident fund in full for 6 consecutive months (some areas require 12 months).
2. The applicant and his spouse have no outstanding housing provident fund loans.
3. Have a good credit record and no serious overdue records.
4. Have stable economic income and repayment ability.
2. Calculation formula of provident fund loan amount
The calculation of provident fund loan amount is usually based on the following factors:
| calculation factors | illustrate |
|---|---|
| Provident fund account balance | It is usually 10-20 times the account balance, and the specific multiple is determined by local policies. |
| Monthly deposit amount | The higher the monthly deposit, the higher the loan limit. |
| Loan term | The longer the loan term, the smaller the monthly payment pressure, but the higher the total interest. |
| House price and down payment ratio | The provident fund loan amount usually does not exceed 70%-80% of the house price. |
3. Examples of specific calculation methods
Taking the provident fund policy of a certain place as an example, assume:
| project | numerical value |
|---|---|
| Provident fund account balance | 50,000 yuan |
| Monthly deposit amount | 2,000 yuan |
| Loan term | 30 years |
| house price | 2 million yuan |
| down payment ratio | 30% |
Based on the above data, the calculation steps are as follows:
1. Calculated based on 15 times the account balance: 50,000 × 15 = 750,000 yuan.
2. Calculated based on monthly deposit amount: 2,000 × 12 × 30 × 0.4 = 288,000 yuan (assuming the repayment ability coefficient is 0.4).
3. 70% of the house price: 2,000,000 × 70% = 1,400,000 yuan.
4. The final loan amount is the lowest of the three, which is 288,000 yuan.
4. Other factors affecting the provident fund loan amount
1.Regional policy differences: Different cities have different provident fund loan policies. For specific amounts, you need to consult the local provident fund management center.
2.Personal credit history: Bad credit may reduce the loan limit or lead to loan rejection.
3.household income: The higher the income, the higher the loan limit is usually.
4.House type: The loan amounts for second-hand homes and new homes may be different.
5. How to increase the provident fund loan limit
1. Increase the provident fund payment base: Negotiate with the unit to increase the payment ratio or base.
2. Extend the loan term: Although the total interest rate increases, the monthly payment pressure decreases.
3. Couples applying jointly: Dual-income families can calculate the quota together.
4. Maintain a good credit record: Avoid overdue payments or other bad credit behaviors.
6. Answers to popular questions
1.Is there an upper limit on the provident fund loan amount?
Answer: Yes. Different cities have different upper limits. For example, the maximum loan amount in Beijing is 1.2 million yuan, and the maximum loan amount in Shanghai is 1 million yuan.
2.Can the provident fund loan limit be stacked with commercial loans?
Answer: Yes. Portfolio loans are a common way to buy a house, but they need to meet the double review of banks and provident fund centers.
3.Will the provident fund loan amount change over time?
Answer: Yes. Provident fund policies may be adjusted, and it is recommended to pay attention to the latest local policies regularly.
Through the above analysis, I believe you have a clearer understanding of the calculation of provident fund loan amounts. If you have more questions, it is recommended to consult the local provident fund management center directly to obtain the most accurate information.
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