Tsang Yun
2024-07-09 15:38:47

LET'S FIND OUT ABOUT THE CURRENT STATUS OF THE EQUITY LOAN. THE INTEREST RATE OF THE PROVIDENT FUND LOANS IS USUALLY LOWER THAN THAT OF COMMERCIAL LOANS, BUT THE TOTAL AMOUNT OF THE PROVIDENT FUND LOANS IS LIMITED. IF YOU HAVE $10,000 IN YOUR POOL ACCOUNT, YOU CAN EXPECT A LOAN OF ABOUT 100,000 TO 200,000. HOWEVER, FACTORS SUCH AS WHERE YOU COME FROM, YOUR AGE, MAY ALSO AFFECT YOUR FINAL LOANABLE AMOUNT. POLICY PROVISIONS VARY FROM PLACE TO PLACE AND THE SAME CONDITIONS CAN VARY SIGNIFICANTLY FROM PLACE TO PLACE. THE CALCULATION OF THE LEVEL OF THE PROVIDENT FUND LOAN WILL TAKE INTO ACCOUNT THE ABILITY TO REPAY THE LOAN, THE NUMBER OF HOUSE PRICES, THE BALANCE OF THE PROVIDENT FUND ACCOUNT AND THE LOAN CEILING, THE SMALLEST OF WHICH IS THE MAXIMUM AMOUNT YOU CAN BORROW. HOW MUCH IS THERE TO BE 10,000? FIRST, YOU NEED A VALID LOCAL RESIDENCE OR RESIDENCE PERMIT. SECOND, YOU ARE REQUIRED TO PAY THE HOUSING PROVIDENT FUND NORMALLY WITHIN SIX MONTHS OF APPLYING FOR A LOAN. IN ADDITION, YOU NEED TO HAVE LEGAL FORMALITIES AND CONTRACTS FOR THE PURCHASE, RENTAL, RECONSTRUCTION, ETC. WITH RESPECT TO DOWN PAYMENT, YOU SHOULD PAY DOWN PAYMENT IN EXCESS OF 301 TP3T OR 201 TP3T OF THE TOTAL PURCHASE PRICE. MOREOVER, BOTH LENDERS AND GUARANTORS NEED TO BE 18 YEARS OF AGE OR OLDER, WITH FULL CIVIL CAPACITY AND GOOD PERSONAL REPUTATION AND A STABLE INCOME. IF YOU HAVE FULLY WITHDRAWN THE PROVIDENT FUND BEFORE THE LOAN, THEN YOU CANNOT USE THE PROVIDENT FUND AND YOU NEED TO PAY A NORMAL CONTRIBUTION TO THE HOUSING PROVIDENT FUND FOR SIX MONTHS IN A ROW TO QUALIFY FOR A MORTGAGE。