First, how to repay the mortgage in advance
Prepayment includes two forms.
One is to repay some personal housing loans in advance.
One is to repay all personal housing loans in advance.
For example, Mr. Chen applied for a bank commercial loan of 550,000 yuan with a loan term of 20 years. On the premise of not overdue repayment, he can repay part of the principal in advance several times, and after each prepayment, the remaining loan principal will be reduced accordingly.
The bank recalculates the borrower's monthly repayment amount according to the outstanding loan principal until the loan principal and interest are fully paid off.
Assuming that the remaining repayment amount is 360,000 yuan (principal is 270,000 yuan and interest is 90,000 yuan), Mr. Chen decides to repay 6,543,800 yuan in advance, so the principal is only 6,543,807 yuan and interest is 90,000 yuan.
According to relevant regulations, the principal of 654.38+10,000 yuan paid in advance will no longer bear interest in the future, and the bank will only recalculate the monthly repayment amount for the unpaid principal of/kloc-0.70 million yuan and interest of 30,000 yuan according to the same period and interest rate.
The interest expense saved by choosing different ways is different, and the interest expense saved by repaying the loan in advance at one time is the biggest. In addition to the prepayment, the monthly repayment amount is reduced, the repayment period is shortened, and the repayment method is changed-for example, the repayment method is changed from matching principal and interest to average capital.
Before choosing, after calculating the repayment results of different ways, we should combine economic strength, comprehensively consider time and opportunity cost, and determine our best way.
Second, the penalty for prepayment of mortgage loans.
Liquidated damages for prepayment of mortgage loans by banks:
China Merchants Bank? If the prepayment is less than one year, the interest not less than the actual repayment amount for three months will be charged. ? If the repayment is made in advance after one year, the interest not less than the actual repayment amount will be charged for one month.
China Construction Bank? If the prepayment is less than one year, 3% of the prepayment amount will be charged. ? If the loan is repaid in advance for one to two years, 2% of the prepayment amount will be charged. ? The loan is repaid in advance for two to three years, and one percent of the prepayment amount is charged.
Agricultural Bank? If the prepayment is less than one year, it will be charged according to the principal multiplied by the monthly interest rate, that is, the loan interest rate divided by 12 months minus the repayment months. ? Repay the loan in advance after one year, as long as there is no record of prepayment before, there will be no penalty. If the repayment has been made in advance, the applicant will not be fined if he applies again one year later.
Industrial and Commercial Bank of China? If the prepayment is less than one year, 5% of the prepayment amount will be charged as liquidated damages. ? If the loan is repaid in advance after one year, no penalty will be charged.
Bank of China? If the prepayment is less than one year, a penalty interest of no more than six months will be charged (calculated according to the loan interest rate on the prepayment date). ? If the loan is repaid in advance after one year, no penalty will be charged.
Bank of communications? Partial prepayment is stipulated to be more than 6 times of the monthly repayment amount and less than 35%. Partial prepayment can be paid free of charge once a year. ? All prepayments are subject to liquidated damages, and 65438+ 0% of the current repayment amount is charged. However, the specific repayment amount needs to be implemented in accordance with the contract.
Guangfa Bank? If the prepayment is less than one year, two months' interest will be charged as liquidated damages. ? Repay the loan in advance after one year without any penalty.
Everbright Bank? If the prepayment is less than one year, 3%~6% interest will be charged as liquidated damages, which shall be implemented in accordance with the contract. ? Repay the loan in advance after one year without any penalty.
Shanghai Pudong Development Bank? If the prepayment is less than one year, different interest rates of 1.5% or 3% will be charged. If there is no liquidated damages, it will be charged according to the amount stipulated in the contract. ? Repay the loan in advance after one year without any penalty.
Development bank? Generally speaking, you can apply for early repayment after repayment for more than two years, and the specific situation needs to be implemented according to the contract at that time. ? If the prepayment is less than two years, it is necessary to pay the liquidated damages agreed upon when signing the contract. If there is no agreement, there is no charge.
The above is how Bian Xiao introduced how to repay the mortgage in advance and collect liquidated damages, hoping to help you. For more information on prepayment of mortgage, please continue to pay attention to the renovation of Tubatu School.
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