majority of people are inclined to purchase a home if they meet the conditions and can afford the down payment, as what investment method could be more profitable than real estate at present? However, some individuals who are close to retirement are still planning to buy a house with a loan. The question arises: Can one apply for a housing loan using public accumulation fund (PAF) if they are only a few years away from retirement? The editor at Hualv Law Website will provide you with detailed information on this matter.

临近退休，能否使用公积金贷款购房？

Is it possible to apply for a housing loan using PAF only a few years before retirement? The answer is yes; it is not related to how many years are left until retirement, but age may affect the loan amount!

The conditions for applying for a PAF loan are as follows:

1. Only employees participating in the PAF system are eligible to apply for a PAF loan.

2. Participants in the PAF system must meet the following conditions to apply for an individual PAF housing loan: they must have continuously contributed to the PAF for at least six months before applying for the loan.

3. If one spouse has applied for a PAF loan, both spouses cannot obtain another PAF loan until the existing loan is fully repaid. This is because PAF loans are financial support provided to meet the basic housing needs of employees' families, serving as a "housing security" type of financial support.

4. When applying for a PAF loan, the applicant must not only have a stable income and the ability to repay the loan but also should not have any other significant debts that may affect their ability to repay the PAF loan.

5. The maximum loan term for a PAF loan is no more than 30 years. For combined loans, the term of the PAF loan and the commercial housing loan must be the same.

According to regulations, the longest term for a PAF loan does not exceed five years after the borrower's retirement. For example, if the retirement age is 60, the maximum loan term is only until the borrower turns 65. On the other hand, there is no minimum age limit for the borrower, but they must meet the condition of formally working and continuously contributing to the PAF for more than six months. Generally, PAF loans are subject to the borrower's age and loan term limits, i.e., for males: loan term + borrower's age should be less than or equal to 65; for females: loan term + building age should be less than or equal to 60.

Process for handling PAF loans:

The borrower prepares the necessary documents, fills out the loan application at the bank, and submits the materials;

The loan bank receives the application and verifies and reviews the documents;

After the review, the loan bank contacts the borrower to sign the relevant contracts;

The bank disburses the loan, and the borrower fulfills their repayment obligations.