What details do you need to pay attention to when repaying your mortgage prepayment?

There are three more details to keep in mind when making a prepayment.

1. The requirements must be asked: If the borrower wants to repay the loan in advance, he must have repaid the loan for more than half a year, or even some banks have repaid the loan for more than one year. Banks generally require borrowers to submit written or ** applications about 15 working days in advance, and banks need to approve after receiving the borrower's application for early repayment, so it generally takes about a month.

In addition, the requirements for prepayment vary from bank to bank, for example, some banks stipulate that prepayment must be an integer multiple of 10,000 yuan, and some banks need to charge a certain amount of liquidated damages.

2. Prepare documents: If the borrower wants to repay the loan in advance, he or she should generally bring his ID card and loan contract to the bank for approval after applying in writing or in writing. If the borrower has settled the entire balance payment, it is convenient for the borrower to deposit enough money to repay the loan early after the bank calculates the remaining loan amount.

If it is a customer and owner of the mortgage business, it is best to find a professional guarantee agency to do the notarization of entrustment, so as to avoid the risk that the customer will not buy after the owner repays the loan in advance, or the owner will increase the price after the customer uses the down payment to help the owner pay off the final payment.

3. Don't forget to surrender the insurance and release the mortgage: If the customer settles the loan, he must not forget to release the mortgage. The borrower should bring the real estate certificate, the settlement certificate and the mortgage certificate in the bank to the district housing and construction committee office to understand the mortgage.

In this way, your own property can be said to be completely your own property.

Usually, the bank can apply for early repayment of the loan for at least one year, and after repayment, you must go to the bank to withdraw your real estate certificate, but you must take the real estate certificate and the certificate issued by the bank to the local land bureau to cancel the mortgage registration to be completed.

Early repayment needs to know how much of your loan is left This can be found in the personal credit report or the loan bank** query and then** to make an appointment for repayment After the appointment time, the main lender brings the repayment card property right certificate or the purchase contract loan contract and then goes to the bank to handle it You need to deposit the money in the repayment card when repaying in advance.

1. Understand the early repayment requirements.

Different banks have different regulations on early repayment, especially the time, frequency and amount of early repayment applications, so borrowers who intend to repay their loans in advance should be aware of them in advance.

2. Find out whether you need to pay liquidated damages for early repayment.

Generally, early repayment requires the payment of liquidated damages, but the specific charging standards vary from bank to bank, so borrowers should understand this clearly before early repayment in order to prepare.

3. Don't forget to go through the procedures for releasing the mortgage.

After the borrower has paid off the entire loan, he should not forget to go through the mortgage release procedures for the property, because only after this procedure is completed, the house really belongs to the buyer.

What is the process for paying off a mortgage in a lump sum?

1. One-time repayment of principal and interest. The one-time repayment of principal and interest is mainly the repayment method chosen by the applicant when applying for a mortgage loan, while the limitation of the one-time repayment of principal and interest repayment method is that the term of the loan can only be applied for for a period of one year. Therefore, if the applicant has sufficient repayment ability, he or she can choose this repayment method.

2. Pay off the mortgage in a lump sum in advanceIf you have applied for a mortgage for more than 1 year and currently have enough savings, you can pay off the mortgage in a lump sum in advance. However, it is necessary to understand that if the mortgage is less than 1 year old, the bank will charge a certain amount of liquidated damages if the mortgage is less than 1 year old and the loan is repaid before the repayment period is reached. Therefore, before deciding to repay the loan before the repayment period is due, check with the bank if there are any additional fees to charge.

3. As long as the applicant has sufficient repayment ability, he can pay off the mortgage at one time. However, when individuals choose to apply for a mortgage, it is best to determine their repayment ability and choose the term of the loan, so that they do not need to go through too many repayment procedures.

What do I need to do after my mortgage is paid off? 1. Loan completion procedures.

After the loan is repaid, the lender needs to go to the bank where the lender is located, and the bank will issue the corresponding loan clearance certificate, which is very important and is a necessary material for the housing authority to handle the mortgage cancellation procedures.

2. When handling a mortgage, the bank will generally mortgage the property, and the buyer's real estate certificate also has a mortgage registration mark, which cannot be listed for trading. At this time, the lender should bring the completed "Application Form for Mortgage Cancellation", "Housing Ownership Certificate" and "Housing Other Ownership Certificate" or mortgage certificate to the local housing management department. Only then do you get full ownership of your house.

3. Remember to cancel the guarantee procedures.

A considerable number of people choose a guarantee agency to guarantee when the mortgage is "business to business", and after the mortgage is settled, they should also go through the procedures for revoking the guarantee in time and return the guarantee deposit.

1. Do not repay the loan in advance in the first year;

2. Don't forget to go to the tax department for tax refund procedures for early repayment;

3. Don't forget to surrender the loan if you repay the loan early;

4. After repaying all the loans in advance, don't forget to get back your own money from the insurance company and the tax department.

There are types of prepayments:

1. Full early repayment, that is, the remaining all the loans are paid off at one time, and the interest on the remaining part is saved after repayment, but the interest on the paid part is non-refundable;

2. Partial early repayment, and the remaining loan will keep the monthly repayment amount unchanged, and the repayment period will be shortened;

3. Partial early repayment, the remaining loan will be repaid every month, and the repayment period will be shortened and delayed. These two situations are relatively common, and can be calculated according to the specific financial ability, the amount to be repaid and the interest rate, both of which can save an interest;

4. Partial early repayment, the remaining loan will reduce the monthly repayment amount, keep the repayment period unchanged, this method can reduce the burden of monthly payment, but the interest saving degree is slightly less than the second type;

5. The remaining loan will keep the total principal unchanged, and only the repayment period will be shortened. In the latter case, the monthly payment will be increased and some interest will be reduced, but it is not relatively cost-effective.

Legal basisArticle 530 of the Civil Code of the People's Republic of China.

The creditor may refuse the debtor's early performance of the debt, except where the early performance does not harm the interests of the creditor.

The debtor shall bear the additional costs incurred by the creditor for the debtor's early performance of the debt.

Article 677.

If the borrower returns the loan in advance, the interest shall be calculated according to the actual period of the loan, unless otherwise agreed by the parties.

Bank of China: If the loan is repaid in advance for less than one year, a penalty of up to six months of interest will be charged (calculated according to the loan interest rate on the date of early repayment). If the loan is repaid early after one year, no penalty will be charged.

Other banks: China Construction Bank: 3% of the prepayment amount will be charged for early repayment of loans less than one year.

The loan is repaid in advance for one to two years, and 2% of the prepayment amount is charged. Loans are repaid in advance over two to three years, and one percent of the prepayment amount is charged.

Agricultural Bank of China: If the loan is repaid in advance for less than one year, it will be charged according to the principal multiplied by the monthly interest rate, which is the loan interest rate divided by 12 months minus the number of months of repayment. If the loan is repaid early after one year, no penalty will be charged as long as there is no previous record of early repayment.

If you have already made early repayment, you will not be charged a penalty if you apply again after one year.

Industrial and Commercial Bank of China: If the loan is repaid in advance for less than one year, 5% of the early repayment amount will be charged as liquidated damages. If the loan is repaid early after one year, no penalty will be charged.

Bank of Communications: Some prepayment provisions shall not be less than 6 times of the monthly repayment amount, and the maximum shall not exceed 35 of the monthly repayment amount, and some early repayment customers can repay the loan once a year free of charge. Those who repay all the loans in advance shall be liable for the payment of liquidated damages, which shall be charged 1% of the current repayment amount.

However, the specific repayment amount needs to be implemented in accordance with the contract.

Note:If the borrower wants to repay the loan in advance, he or she should generally bring his ID card and loan contract to the bank for approval after ** or written application. If the borrower has paid off the balance in full, deposit enough money to repay the loan early after the bank calculates the remaining loan amount.

Early repayment of part or all of the personal housing loans refers to the borrower's early repayment of a certain amount or all of the loans on the basis of guaranteeing the repayment of the principal and interest of the personal housing contribution on a monthly basis, so as to achieve the purpose of "shortening the repayment period and reducing interest expenses". The specific method of "partial early repayment" is that the first bank must ensure that the monthly repayment amount after the advance exceeds the original repayment amount, so that it can be qualified to apply for partial early repayment.

Many people want to save money on interest expenses by prepaying their loans, but sometimes they can't get what they want, so you should consider whether you are really suitable for prepayment. Or are you overlooking something you shouldn't have overlooked when making a prepayment?

1. What are the circumstances under which prepayment is appropriate?

The above loan interest rates can be considered for early repayment.

Usually only by investing in riskier products can you get more than 7%, and higher risk investments are not suitable for everyone, so it is recommended that small partners with loan interest rates higher than 7% can repay the loan early if they have surplus funds.

2. If it is less than 6%, there is no need to repay in advance.

If the investment can be at the same rate as the loan interest rate, then there is no need to prepay the loan. At present, there are some stable investment products that can reach 6%, so small partners with a loan ratio of less than 6% do not need to rush to repay the loan.

3. Those who have a high monthly provident fund contribution can repay part of the mortgage in advance.

Since the provident fund is a special fund, it is not repaid in advance, and it cannot be withdrawn in the account, so it is better to withdraw it and repay the loan first, which can also improve the efficiency of the use of funds. If you choose a combination of commercial loan and provident fund, you must repay the commercial loan part first.

4. The interest saved by early repayment at the beginning of the loan is yes.

Whether it is equal principal and interest or equal principal repayment method, the earlier the repayment, the more interest will be saved, if it is in the later stage of repayment, although the interest rate remains unchanged, but most of the interest has been repaid, early repayment is no longer meaningful.

2. What should I pay attention to when repaying the loan early?

1. The time when the bank allows early repayment.

The time at which banks allow prepayment varies from bank to bank, with some banks requiring at least one year of repayment before applying for prepayment, but some banks can apply for prepayment at any time.

2. Liquidated damages are required for early repayment.

Usually, when the lender chooses to repay the loan early, it will generally pay a handling fee, also known as "penalty interest" or "liquidated damages", but the handling fee varies greatly from bank to bank, some banks do not charge a handling fee, and some banks need to charge interest for 1 to 3 months on the actual repayment amount.

3. The bank adjusts the repayment interest.

Generally, the term of the mortgage is more than 10 years, and in this cycle, it is inevitable that the central bank will adjust the interest, and the time for each bank to adjust the interest rate accordingly is also inconsistent. Chinese banks such as the Industrial and Commercial Bank of China, the Agricultural Bank of China, and the China Construction Bank generally start to adjust the repayment interest according to the latest central bank benchmark interest rate from January 1 each year.

Hello! The early repayment of personal housing mortgage loans of ABC is handled as follows: the borrower shall submit a written application to the lending bank at least 30 days in advance and obtain the consent of the lending bank to apply for early repayment of the housing loan.

For early repayment of personal housing loans, the materials to be brought are the borrower's identity document, personal housing purchase guarantee loan contract, and the original housing loan repayment card (discount), and the application should be submitted to the original loan agency in advance as agreed in the contract. Please consult your local lender for details. The standard of liquidated damages for early repayment is subject to the loan contract signed between the customer and our bank, please check the provisions of the loan contract or contact the loan handling branch for verification.

1. Repayment time.

In the case of a normal period of relaxation, first of all, according to different banks and different types of bank loans, the bank loan contract will stipulate whether the loan can be repaid in advance. However, because the contract is too long, many people often do not see it, and the bank relationship manager does not necessarily tell it. As a result, some customers clearly agree that they cannot repay the loan in advance, but they think they can.

In addition, even if the contract stipulates that the loan can be repaid in advance. It's not that we can pay it back when we want. Most banks allow customers to repay the loan early only after one year of repayment.

2. Liquidated damages for early repayment.

Many people think that if I return the money to the bank in advance, the bank should be happy, how can there be liquidated damages. Let's think about it differently, banks are first and foremost profit-making institutions. His profit** is the interest on the loan.

If we repay the loan early, it will not lose a part of the income. So the real picture is that the bank doesn't want us to repay early. So there is also a liquidated damages.

Under normal circumstances, there is basically no penalty for prepayment of mortgage loans.

3. Time to settle the loan.

Another point is that the loan is not settled immediately after it is repaid, that is, the loan shown by the credit report is not eliminated in time. There is a checkout here. It is divided into different banks, and it is usually one to two weeks.

In particular, for mortgages, it is necessary to wait a week to two weeks to get the settlement certificate and the collateral cancellation documents. This is something that the bank relationship manager does not talk to us about when applying for a loan.

1. What are the main repayment methods of the mortgage?

We all know that there are two main ways to repay the loan when buying a house, one is equal principal and interest repayment, and the other is equal principal repayment. According to the financial calculation, home buyers with the following two situations in the repayment period should repay the loan carefully:

1. If half of the equal principal and interest repayment is made, it is not cost-effective to repay the loan in advance. Equal principal and interest repayment is a fixed total monthly repayment, in which the repayment principal increases and the repayment interest decreases, that is, the borrower pays a larger proportion of interest in the early stage and less of the principal. If the borrower chooses to repay the loan early in the middle of the repayment, most of the interest has already been repaid, and the part of the prepayment is more of the principal, in which case it is not meaningful to choose to repay the loan early.

2. The equal principal repayment has been repaid by 1 3 or more. Equal principal repayment is to divide the total loan amount into equal costs, and calculate the repayment interest based on the remaining principal, with the increase of repayment time, the remaining principal decreases, and the repayment interest becomes less and less. When the repayment period exceeds 1 3, in fact, the borrower has already repaid half of the interest, and then chooses to repay the loan in advance, the repayment is more of the principal, which cannot effectively save interest expenses.

Therefore, it is not cost-effective to repay the loan early at this time.