Early repayment of a mortgage loan must be made at least half a month in advance. Only after the bank agrees with the application for early repayment can the repayment time be agreed upon with the bank. Then according to the agreed date, bring your ID card and the loan contract signed with the bank to the bank to fill out the loan repayment application form and early loan repayment agreement, and according to the bank's requirements, deposit the amount that needs to be repaid to the withholding center of the loan principal and interest. The account will be automatically debited by the bank.

Legal basis: Article 19 of the "Interim Measures of the People's Bank of China for the Management of Loans to Financial Institutions":

The People's Bank of China must adhere to term management when issuing loans to financial institutions. Must be taken back. When the loan expires, the financial institution should take the initiative to handle the repayment procedures; if the repayment procedures are not completed when the loan is due, the People's Bank of China has the right to transfer the loan to an overdue loan account and deduct it from the deposit account if necessary. After the People's Bank of China's loan to a financial institution expires, if the financial institution really has difficulties and cannot repay it on time, it should apply for extension procedures in advance. Each loan can only be extended once, and the extension period shall not exceed the original period.

Is there a limit to the number of times a mortgage can be repaid in advance?

Is there a limit to the number of times a mortgage can be repaid in advance? It mainly depends on the regulations of the lending bank or lending institution. However, different lending banks and lending institutions have different regulations.

Generally, from the perspective of the entire repayment period, there is no limit on the number of early repayments by the borrower. However, some banks may stipulate that borrowers can only repay in advance once or twice within a year.

If you are not sure whether there is a limit on the number of early repayments, you can directly consult the staff of the lending bank or lending institution through the customer service phone number.

Everyone needs to note that many banks have time limits for early repayment. Banks generally require borrowers to repay according to the repayment plan for at least one year or half a year before they can apply for early repayment. Of course, some banks say you can apply for early repayment at any time.

If you want to repay your mortgage in advance, you can choose to pay it off in full in advance, or you can choose to repay part of it in advance. If you make partial repayment in advance, you can choose to shorten the loan term or reduce the monthly payment.