Beijing Provident Fund second suite can be 20% down payment of the new rules implemented.

China Paint Network
News:
three ministries issued a provident fund at the end of last month after the New Deal to reduce the down payment of second-home provident fund, Beijing's landing policy was introduced, adjust the minimum down payment ratio of second-home provident fund loans, own 1 housing and has cleared the provident fund loans, the minimum down payment ratio of second-home provident fund loans reduced to 20%, the new rules from September 14. On the 31st of last month, the Ministry of Housing and Construction, the Ministry of Finance and the Central Bank issued a notice to reduce the down payment ratio of the second house of the Provident Fund. For households with 1 home and the corresponding purchase loans have been cleared, the minimum down payment ratio shall be reduced from 30% to 20% if they re-apply for housing provident fund loans to purchase housing in order to improve their living conditions. However, for Beijing, Shanghai, Guangzhou, Shenzhen, the four first-tier cities, the three ministries said that on the basis of the national unified policy, combined with local reality, independently decided to apply for housing provident fund loans to buy a second housing minimum down payment ratio. Beijing Housing Provident Fund Management Center issued yesterday, the landing policy basically implemented the requirements of the three ministries, for the Beijing Municipal Housing and Urban-Rural Construction Commission housing transaction ownership information query system, showing that there is a housing and has closed the corresponding housing provident fund personal loans (including housing provident fund policy discount loans) to buy a second housing loan applicants, the implementation of the second housing loan policy, the minimum down payment ratio from 30% to 20%. According to the Provident Fund Management Centre, the New Deal has been in effect since 14 September. Interpreting that the interest rate of second-home provident fund loans has not been adjusted in the three ministries' New Deal and Beijing Provident Fund Center's landing policy, there is no mention of whether the interest rate of second-home provident fund loans has changed. Therefore, it is understandable that the second-home provident fund loan will still be implemented at the current interest rate, that is, 1.1 times the interest rate on the first home loan in the same period. In the new policy issued by the three ministries, it was determined that the criteria were to own a home and clear the "corresponding loans", which meant that both commercial and provident fund loans were used. Beijing's policy, the criteria for identification is to clear the corresponding provident fund loans can be, and does not include commercial loans. Analysis of housing prices above 1 million hard to enjoy a down payment of 20% affordable at present, Beijing Provident Fund for the purchase of second-home loans limited to the maximum limit of 800,000 yuan. Some experts say there are not many people who can benefit from the New Deal because of the current high prices in Beijing. Because of the higher house prices, the total price of the house is higher, if it is 20% down payment, meaning that the need for more loans, and the current Beijing second-home provident fund loans of the maximum amount of only 800,000 yuan, so some families can only pay more down payment. Based on a maximum loan of $800,000, only houses with a total price of less than $1 million can fully enjoy the benefits of a down payment of 20%. Based on a set of 2 million houses, if only 800,000 yuan can be loaned, then the down payment is as high as 1.2 million yuan. Of course, home buyers can also choose a combination of commercial loans plus provident fund loans, you can obtain a higher loan amount. However, the down payment requirement in the current portfolio loan is the principle of "both take their high", that is, to meet the loan method with a higher down payment. At present, the down payment ratio of commercial loans is higher than that of provident fund loans, that is, the down payment ratio of portfolio loans will not be in accordance with the requirements of provident fund loans, and the implementation of commercial loan standards.