The state facilitates citizens in obtaining loans when purchasing social housing. In order to be eligible for a loan to purchase social housing, citizens need to prepare the documents and carry out the procedures as follows:
Article table of contents
To apply for a loan to purchase social housing, the borrower needs to prepare the required documents and follow the following procedures:
1. Loan application documents
According to Article 8 of Guidance No. 2526/NHCS-TDSV of the Vietnam’s Social Policy Bank, the required documentation for applying for a loan to purchase social housing at the Social Policy Bank includes:
- Loan application form (form 01/NƠXH);
- Confirmation document regarding the subject and current status of the housing;
- Documents proving income eligibility;
- Documents proving residency eligibility;
In cases where the borrower does not have a permanent household registration as required, the following documents are required:
- A certified copy of the valid temporary residence registration for a period of one year or more at the time of application;
- A certified copy of the employment contract with a duration of one year or more at the time of application, or an indefinite term contract;
- Confirmation of social insurance contributions from the provincial social insurance agency where the borrower has registered to purchase social housing.
In addition to the aforementioned documents, depending on the specific purpose of the loan, the borrower needs to prepare the following additional documents:
- Certified copy of the Social Housing Purchase Agreement (form 09) or Rent-to-Own Agreement (form 11) issued together with Circular No. 20/2016/TT-BXD of the Ministry of Construction of Vietnam;
- Certified copy of documents proving payment to the investor for the purchase of social housing as stipulated in the signed agreement;
- Handover minutes of the housing unit between the borrower and the investor for rent-to-own social housing.
2. Procedures for obtaining a loan to purchase social housing
According to Article 9 of Guidance No. 2526/NHCS-TDSV, the procedures for obtaining a loan to purchase social housing are carried out in the following steps:
Step 1: Submitting the application to the Savings and Loan Group:
- Holding a public review meeting.
- Creating a list of loan applications to the Social Policy Bank using the form 03a/NƠXH along with the loan application documents.
Step 2: The Savings and Loan Group submits the application to the Commune-level People's Committee:
Gathering the applications from all Savings and Loan Groups in the commune and submitting them to the Chairman of the Commune-level People's Committee for verification.
Step 3: Submitting the application to the Social Policy Bank:
- After verification, the Commune-level People's Committee sends the application to the Social Policy Bank.
- The Social Policy Bank notifies the borrower to complete the loan procedures.
- Credit officers assess and prepare an appraisal report.
- The Social Policy Bank informs the borrower of the loan approval result.
Step 4: Signing the credit agreement:
- The Social Policy Bank, the borrower, and the investor sign a tripartite agreement using form 14/NƠXH; sign the credit agreement using form 05/NƠXH; sign the mortgage agreement using form 12/NƠXH, and conduct the necessary collateral transactions according to regulations.
- When signing the contract, the borrower must present the original copies of the following documents:
+ Documents proving payment to the investor for the purchase of social housing.
+ The social housing purchase agreement or certificates of land use rights, ownership of the house, and other assets attached to the land.
+ Other related documents regarding the collateral assets for verification.
Step 5: Opening a savings account:
- The borrower opens a savings account to deposit monthly savings according to the regulations.
- The savings deposit starts from the month of signing the credit agreement.
Above are all the necessary documents and procedures when individuals apply for a bank loan to purchase social housing.
Legal basis
Ngoc Tai
- Key word:
- social housing
