Legal analysis: after the mortgage is paid off, the deposit can be refunded. In order to avoid overdue risks, banks will require developers to provide guarantees and assume joint and several liability for mortgage loans. After the user completes the mortgage formalities, the bank will return the deposit to the developer. Therefore, the refund of the deposit does not need to wait for the mortgage to be paid off, as long as the mortgage formalities are completed.

Legal basis: Article 68 1 of the Civil Code of People's Republic of China (PRC) is a contract in which the guarantor and the creditor agree that when the debtor fails to perform the due debt or the circumstances agreed by the parties occur, the guarantor will perform the debt or assume the responsibility.