First, repay in advanceMortgage Loans
Whether it is cost-effective, it is necessary to combine the repayment amount, the repayment period andRepayment
Such a comprehensive judgment cannot be generalized.
Second, the following three situations should not be repaid in advance
1. Enjoy a 30% to 8.5 fold interest rate discount when signing a loan contract. Due to the discount rate interest rate, it is currently in the interest rate cut channel. If the central bank does not cut interest rates during the year, even if it is executed at the latest interest rate on January 1 next year, interest will only be lower than the previous period.
2,Equal principal repayment
Over one-third of the buyers have already passed. Since the principal amount is equal to the total amount of the loan, the repayment interest is calculated based on the remaining principal. That is to say, the later the repayment method, the less the remaining principal, and the less interest generated. Under this circumstance, when the repayment period exceeds 1/3, the borrower has already paid nearly half of the interest, and the latter is more of the principal. The interest rate has little effect on the repayment amount.
3,Equal principal and interest repayment
Buyers who have reached the mid-term. The equal principal and interest repayments add the total principal amount of the mortgage loan to the total interest, and then distribute it evenly to each month. The monthly loan interest is calculated based on the remaining loan principal at the beginning of the month and is settled monthly. In other words, the proportion of the principal amount in the monthly repayment amount increases month by month, and the proportion of interest decreases month by month. In the middle of the repayment period, most of the interest has been repaid, so it is not meaningful to repay the loan in advance.
Third, the prepayment of mortgage prepayments
1. The bank allows different repayment time in advance
Most banks require at least one year of repayment before they can apply for early repayment, but some banks have indicated that they can apply for early repayment at any time. In state-owned banks, BOC and CCB need to repay their loans for one year before they can apply for early repayment. ICBC needs half a year to repay loans in advance. In addition, banks such as China Merchants Bank and Bank of Communications will need to apply for early repayment before one year later. Hua Xia Bank said that it can apply for repayment at any time.
2. The bank adjusts the interest cycle differently
The average mortgage period is more than 10 years. In this cycle, it is inevitable that the central bank will adjust interest rates, and the time for each bank to adjust interest rates is also inconsistent. Most Chinese banks such as ICBC, ABC, and China Construction Bank generally adjust to the new repayment interest according to the recent central bank benchmark interest rate on January 1.
Foreign banks generally choose to adjust in the current month or quarter. Citibank was executed at the new interest rate at the beginning of the next quarter, and HSBC began to execute at the new interest rate on the same day.
For the mortgage family, if it is in the interest rate cut channel, obviously the faster the adjustment is more cost-effective; if it is during the weekly rate hike cycle, the later the adjustment is more cost-effective.
3. Don't forget to cancel the mortgage registration after "returning the mortgage"
Whether it is to repay the loan during the contract period or to repay the loan in advance, the public should not forget to apply for the cancellation of the mortgage after the loan is repaid.
According to the different conditions in the hands of the title certificate, the procedures for obtaining the title certificate after the loan is completed are also divided into several types. One of the simplest cases is that the original of the title certificate has been mortgaged in the bank. If this is the case, the buyer will still complete the loan, or will receive a repayment certificate after returning the loan in advance, and the bank will return the original certificate of the title certificate and the original contract of sale to the purchaser. In this way, the purchaser can get back the property certificate that belongs to him completely, and has nothing to do with the bank.
However, because the operation rules of different branches of different banks are not uniform, some branches only need to do a mortgage registration, and buyers can own the real estate license with the mortgage registration mark. That is, before the loan is paid off, the real estate license will be obtained in advance, and the current status of the house will be indicated in other items on the real estate license. If this is the case, after the buyer has completed the loan, in addition to repeating the above steps, a procedure for revoking the mortgage registration is also required. After the purchaser and the bank have completed the settlement procedures, they will go to the Housing Authority to cancel the mortgage registration, that is, they will be stamped out in the column of the real estate certificate.
4. People who are suitable for early repayment
1. People who are unwilling to have debts and do not want to bear the pressure of excessive living.
2, soon after the purchase of the house, in the early stages of repayment. Since the loan has just been repaid, the principal base is large and the interest rate is correspondingly high. If there is idle funds on hand and there is no good investment direction, repaying the loan in advance is also a good choice.
3. I hope to use the house as a financing tool and obtain more loans from the bank. In recent years, house prices have risen rapidly, and the value of some houses has risen more than at the beginning of the purchase. If the mortgage loans are repaid, the mortgages from the banks can often obtain a larger credit line.