Gansu Province Housing Fund Management Center: Pilot project of using housing provident fund for down payment on second-hand houses is officially launched.

According to the announcement by Gansu Province, recently, the first pilot project for the extraction of down payment for second-hand housing public accumulation funds by the Gansu Provincial Housing Fund Management Center has been successfully completed. The new policy of the pilot program supports depositors' families in purchasing second-hand houses in the city to extract their own, spouse's, parents', and children's housing provident fund directly for the down payment. The extracted housing provident fund is transferred to the bank's existing house transaction supervision fund account. After the two parties complete the transfer of property rights registration, the down payment funds will be paid to the seller according to the fund supervision agreement. Compared with the previous self-raised funds to pay the down payment model, this effectively reduces the pressure on depositors to pay for the down payment when purchasing a house, further expanding the scope of housing provident fund extraction and usage.