WEIYE BUSINESS
Zhengzhou: "New Policy" on Housing Fund Loan in Action
2016-08-01No. of Hits：835Author：Henan Daily
On July 31, Notice on Problems Concerning Housing Fund Loan was released by Zhengzhou Housing Fund Management Center, which states that from September 01, housing fund loan services in Zhengzhou City will be realigned.
Focus points of the new loan policy are approval criterion on the amount of single loan, with no change to regulations on loan ceiling, loan percentage and loan term. According to the new policy, credit line for eligible borrower of housing loan will be determined by three conditions. First, loan amount should not exceed corresponding line of credit. For spouses depositing municipal housing accumulation fund for more than 6 months, if buying a house in downtown area of Zhengzhou, as first loan applicants, the maximum loan amount is ¥600000; for applicants in all other circumstances, in no case should loan amount exceed ¥400000; second, loan amount should not exceed stated times of deposit balance, i.e. the amount of single loan to be determined by the balance of deposit account and depositing time of housing accumulation fund, in more detail, it's determined by the following equation: loan amount≤balance of deposit account× (14 + number of depositing years); and finally, the amount of monthly repayment should not exceed 60% household income.