Housing Provident Fund loans are a very popular form of home-purchase lending and are widely accepted, mainly because of their reasonable and low interest rates. However, many people apply to find that the loan line does not meet their needs. How, then, should we respond to the lack of an adequate level of the Provident Fund loan

What if we don't have enough of this

First of all, you can consider saving some extra money before applying for a loan. In assessing the level of the Provident Fund loan, banks refer to deposits in the Provident Fund account. Increased deposits in the Provident Fund account will effectively increase your loan line. Further, for example, you may choose to deposit some more money in advance into the Provident Fund account in an attempt to increase the amount of the loan requested in this way。

Second, it was also possible to find a guarantor or a joint lender. The guarantor can provide you with credit endorsements, which help to raise the bank ' s credit rating to your level and to achieve an increase in the loan line. One of the strategies is to find a good credit guarantor who can help you raise your credit rating and thus your loan。

Thirdly, if you find that the loan line is still insufficient, other accounts, such as the Provident Fund Savings Account, the Fund Account, etc., could also be considered. In evaluating a loan application, the bank also refers to the balance of these accounts, which may also increase your loan amount。

MULTIPLE FACTORS AFFECT THE TOTAL AMOUNT OF THE PROVIDENT FUND LOAN LINE. THE MAXIMUM AMOUNT OF THE LOAN DEPENDS ON SPECIFIC MUNICIPAL REGULATIONS, AND THERE ARE DIFFERENCES IN THE MAXIMUM AMOUNT FOR JOINT LOAN AND INDIVIDUAL APPLICATIONS. SHENZHEN, FOR EXAMPLE, HAS A COMBINED LOAN CEILING OF 900,000 AND AN INDIVIDUAL LOAN OF 500,000. IN ADDITION, THE PROVIDENT FUND ACCOUNT BALANCE IS AN IMPORTANT FACTOR AFFECTING THE LOAN LIMIT, FOR EXAMPLE, IN SHENZHEN, WHERE THE LOAN LINE CALCULATION FORMULA IS 14 TIMES THE LOAN AMOUNT = THE PROVIDENT FUND ACCOUNT BALANCE. OF COURSE, THE COMBINED MONTHLY PRINCIPAL AND INTEREST PAYMENTS OF THE PROVIDENT FUND CANNOT EXCEED THE LENDER ' S BASE OF 50%, WHICH IS THE IRON LAW. FINALLY, THE TOTAL VALUE OF THE VALUATION AND THE DOWN PAYMENT RATIO WILL ALSO AFFECT THE MAXIMUM AMOUNT OF THE LOAN。