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Panjin, Liaoning

On August 9, the Panjin Housing Provident Fund Management Center of Liaoning Province issued the "Notice on Adjusting the Housing Provident Fund Loan Application Conditions Review Standards", which will be implemented from August 20, 2024.

Panjin City will relax the conditions for applying for provident fund loans. Borrowers and their spouses who have outstanding commercial loans, consumer loans or credit card overdrafts can apply, and only need to reduce the relevant amount.

Specifically, the original housing provident fund loan application conditions regarding "the borrower and his/her spouse have no loans in progress and no credit card outstanding balances" were adjusted to "the borrower and his/her spouse have no housing provident fund loans that have not yet been repaid; if the borrower and his/her spouse have other commercial loans, consumer loans and credit card overdrafts that have not yet been settled, the final provident fund loan issuance amount will be determined based on other factors after deducting the trial amount of the borrower and his/her spouse's repayment ability."

For example: The monthly income of a contributing employee and his/her spouse is 10,000 yuan. The monthly repayment capacity is 6,000 yuan calculated at 60%. After deducting the employee's monthly car loan repayment of 2,000 yuan and the monthly credit card overdraft repayment of 1,000 yuan, the final monthly repayment capacity of the employee and his/her spouse is 3,000 yuan. The Provident Fund Center will calculate the amount of the employee's housing provident fund loan that can be issued based on the monthly repayment capacity of 3,000 yuan.

In addition, starting from August 20, Panjin City will officially implement the commercial bank's personal housing loan conversion housing provident fund loan (hereinafter referred to as "commercial to public") priority mortgage business.

A relevant person in charge of Panjin Housing Provident Fund Center said that the "commercial to public" business is carried out in a priority mortgage manner. When employees and their spouses purchase houses within the administrative area of ​​Panjin and have applied for personal housing mortgage loans from commercial banks that have a cooperative relationship with the Municipal Provident Fund Center, and the loan has not been settled and the property has been issued a real estate certificate and the mortgagee is still the original commercial loan bank, and the original commercial loan bank agrees to add the Municipal Provident Fund Center as the second-priority mortgagee, employees do not need to raise funds on their own to settle the original commercial housing loan. The Municipal Provident Fund Center will disburse the housing provident fund loan funds applied for by the employees to the original commercial bank to settle the original commercial loan, thereby converting it into a housing provident fund loan.