My house loan is 450 thousand, 20 years. It has been paid back for two years, and there are still 420 thousand left. The existing 6,543,800 yuan, which is more suitable, prepayment or increasing monthly payment? Because I don't know whether you are a commercial loan or a provident fund loan. If you are a provident fund loan, you should pay back all the commercial loans first, and the provident fund loan will be paid back slowly. If the loans are all commercial loans, you can choose to shorten the repayment period, which can increase your monthly repayment amount, pay off in advance and pay a lot less interest. Pay attention to the penalty if the bank repays the loan in advance.

1. There are only two types of advance payment:

A, the loan term remains unchanged, and the monthly repayment amount is reduced;

B, the loan period is shortened, and the monthly repayment is basically unchanged.

2. Shortening the loan period is the most cost-effective.

3. The annual loan interest rate is 4.900%.

The monthly repayment is 2945.00 yuan.

Total interest 256800

4. Advance payment of RMB 654.38+10,000:

Number of remaining cycles 145.

Monthly repayment is 2952.02

Subsequent interest 105 120

Savings interest in shortened period 107 142

Procedures for prepayment of mortgage loans:

1. The borrower shall apply to the loan bank for prepayment one month in advance.

2. At the time agreed by the bank, bring your ID card, property right certificate, loan contract and prepayment application form to the loan bank for prepayment.

Legal basis:

Article 32 of the general principles of loans

The borrower shall repay the loan principal and interest in full and on time in accordance with the provisions of the loan contract. The lender shall issue a notice of repayment of principal and interest to the borrower before the short-term loan expires 1 week and the medium-and long-term loan expires 1 month; The borrower shall prepare funds in time and repay the principal and interest on schedule. The lender shall promptly issue a notice of overdue loan collection, and do a good job of overdue loan principal and interest collection. Lenders charge interest on loans that cannot be repaid within the time limit stipulated in the loan contract; If the principal and interest cannot be repaid or executed, it shall be urged to repay or bring a lawsuit. The borrower shall negotiate with the lender when repaying the loan in advance.

When is the best time to repay the housing loan in advance?

Inflation, rising asset prices and currency depreciation are almost inevitable in the future, and holding too much cash is the biggest risk.

Therefore, if you have disposable funds, you can either convert them into capital and earn income higher than the mortgage interest rate; Or prepay as soon as possible.

This repayment time depends on financial management ability, which is dynamic and cannot be generalized.