Guangzhou increases the first housing provident fund loan amount for families with two or more children. Families | Loans | Second Child
On June 28th, the Guangzhou Housing Provident Fund Management Center issued a notice that starting from today, families who have a second child or more and use housing provident fund loans to purchase their first self occupied housing will have a maximum housing provident fund loan amount increased by 30%.
It is reported that families with two or more children who purchase their first self occupied housing can use housing provident fund loans. The maximum loan amount for one person can reach 780000 yuan, and the maximum loan amount for two or more people borrowing together can reach 1.3 million yuan. Compared with commercial loans, taking a loan of 1.3 million yuan for 30 years as an example, the housing provident fund loan is expected to save depositors about 320000 yuan in interest, which is more than 70000 yuan in interest savings before the loan amount increases.
The relevant person in charge of the Guangzhou Housing Provident Fund Management Center stated that the policy aims to support the funding needs of families with two or more children for the first essential housing by increasing the maximum loan amount of the housing provident fund. The implementation of policies is conducive to reducing the burden on depositors when purchasing a house, saving interest expenses, and alleviating the financial pressure of purchasing a house.