For many current home buyers, the choice of a Provident Fund loan has become a common strategy. In response, there were a number of questions about the way in which the Provident Fund loan line was calculated. Today, let's discuss this together. The formula for calculating the level of the Provident Fund loan was first applied: the Provident Fund loan = the balance of the Provident Fund account x the proportion of the loan. The ratio of loans here will vary according to local policy and individual lending, with the general area ranging from 50% to 70%。

How do you calculate the SPF loan line

So, what are the conditions that you need to meet to apply for a Provident Fund loan? First of all, you must have a steady job and the city has paid the Provident Fund for at least a year. Second, you have to be legal in buying a house, and you need to get a property certificate in the normal circulation. In addition, the loan applicant may not have the balance of the Provident Fund loan or arrears. You also need to meet local residency requirements。

ON THE BASIS OF MEETING THE ABOVE CONDITIONS, THERE ARE STILL LIMITATIONS TO THE AMOUNT OF THE PROVIDENT FUND LOANS. FOR EXAMPLE, THE AMOUNT OF THE LOAN MAY NOT EXCEED 70% OF THE BALANCE OF THE PROVIDENT FUND ACCOUNT; IT MAY NOT EXCEED 50% OF THE AMOUNT REPAID; AND IT MAY NOT EXCEED HALF THE MONTHLY INCOME OF THE HOUSEHOLD。

IN ADDITION, LENDERS NEED STABLE ECONOMIC INCOME AND GOOD CREDIT, WITH SUFFICIENT CAPACITY TO REPAY PRINCIPAL AND INTEREST. THE SAME CITY EMPLOYEES MAY APPLY FOR THE HOUSING FUND AFTER ONE YEAR ' S CONTRIBUTION TO THE UNIT COMPANY. THE PURCHASE OF A COMMERCIAL HOUSE REQUIRES A DOWN PAYMENT ABOVE THE TOTAL HOUSE PRICE OF 301 TP3T. ONLY ONE OF THE SPOUSES CAN APPLY FOR A PROVIDENT FUND LOAN IN THE CASE OF BOTH SPOUSES. FINALLY, IT SHOULD BE NOTED THAT AT THE SAME TIME THE SAME FAMILY CAN ONLY APPLY FOR A ONE-TIME PROVIDENT FUND LOAN TO PURCHASE A DWELLING。