There are many advantages to buying a house on a Provident Fund loan, however, you have to contribute to the Provident Fund account on a continuous basis. So, if you stop paying, and the pool account is blocked, can you still use it for a loan? Let's see。

Can you get a loan for a house

"Can I buy a house with a sealed equity loan? "The answer is no. If your SPF account is sealed, you will not be able to apply for a SPF loan. Why? Because of the requirement that you apply for a Provident Fund loan, the Provident Fund account must be in a normal state of contribution. So you have to wait until you re-open the Provident Fund account and recommence your contributions before you can apply for the Provident Fund loan again。

Of course, it is important to remember that you have to meet certain conditions in order to apply for a Provident Fund loan, including at least six months of full and continuous contributions to the Provident Fund, and that you have never applied for a Provident Fund loan or any previous loan has been settled before。

So, what are the benefits of a PPP loan? First, interest rates on Provident Fund loans are relatively low. If the loan period is longer than five years, you can save substantial interest as compared to commercial loans, ease the burden of heavy payments and make lower monthly repayments. Second, Provident Fund loans can be used as the main reserve for households. If you meet the conditions, you can withdraw the Provident Fund as an emergency economic pressure. If not withdrawn, retirement may also be used as a pension. Third, there is a lower age requirement for Provident Fund loans than for commercial loans。

Unfortunately, you can't buy a house with a closed-stock loan. But don't worry, you can either apply for a commercial loan or wait until you have a chance to convert a commercial loan into a pool loan. I hope this article will help you. Thank you for reading。