With the rise of housing prices, many people choose to borrow money to buy a house. Basically, a loan lasts for ten or twenty years, but many people want to repay in advance after the loan. So can the mortgage be repaid in advance? The following small series will take you to find out.

1. Can I repay the mortgage in advance?

1. If the mortgage can be repaid in advance, all or part of the remaining money can be repaid in advance. But we also have to look at the contract and bank regulations. Many banks need more than one year to repay in advance.

2. To repay the mortgage in advance, you must first apply to the bank to repay the mortgage in advance. There is no way to repay the mortgage in advance without applying for an appointment. After making an appointment, you need to bring your ID card, the bank card for repayment, the loan contract signed before and other documents stipulated by the bank, go to the bank to fill in the application form for prepayment, then go through the prepayment procedures, and then transfer the prepayment money to the bank card for repayment.

Second, matters needing attention for repaying the loan in advance

1. The lender pays off the mortgage in advance, and the bank will issue a settlement certificate. Therefore, the lender can bring the original loan settlement certificate, the original insurance policy and the original invoice issued by the bank, call the relevant insurance company and make an appointment to surrender.

What everyone should pay attention to here is that many people will be fine if they handle the repayment at the bank. In fact, you still need to go to the property rights center to apply for cancellation of mortgage registration, otherwise your property is still in a mortgaged state and cannot be bought or sold.

Most banks have the requirement of prepayment. Some banks require repayment for more than one year before they can apply for early repayment, while others can apply for early repayment at any time. Then everyone wants some banks to pay some liquidated damages for repaying loans in advance. Every bank has different rules. It is recommended to consult the bank before applying for repayment.

Bian Xiao concluded: The above is how to repay the mortgage in advance and some matters needing attention. If the buyers have plans to pay off the mortgage in advance. You can communicate with the bank before signing the house purchase contract, and make it clear in advance when and how much you need.

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