Can I get a business loan with a mortgage?
You can still borrow money if the mortgage is not paid off. When a bank applies for a loan, the bank mainly looks at the applicant's current repayment ability and credit history. If the applicant has a good credit record and sufficient repayment ability, he can apply for a loan in the bank. Whether the personal mortgage is paid off has no effect on the individual's application for a loan.
What needs to be understood is that since the personal mortgage has not been paid off, if you apply for a loan in the bank again, the bank will look at your repayment ability according to your current income and monthly payment. So in this way, because there are still mortgages to be repaid, the amount of loans that individuals can apply for will also have a certain impact.
Is it cost-effective to prepay commercial loans?
In view of repaying the loan in advance, Bian Xiao made some suggestions according to several common situations:
1. I have idle funds on hand for a long time, but there is no suitable financial channel.
In fact, compared with commercial loans, the current interest rate of housing mortgage loans is relatively low. If there is no suitable financial channel, you can consider buying bank financial products. Because the term of housing loan is generally longer, if the loan is settled again, you can no longer enjoy such preferential interest rate.
Step 2 prepare for transfer
Because the housing mortgage loan is based on the purchase of real estate as collateral. If the buyer is ready to transfer your property, Bian Xiao's suggestion is that you must settle the loan first, regardless of whether it is cost-effective to repay the loan in advance.
3. The mortgage is about to expire, and it is ready to raise the mortgage interest rate to revitalize the funds.
If there is a large demand for funds and the only house has been mortgaged in the bank, if the amount of refinancing obviously exceeds the amount to be repaid, you can consider repaying the loan in advance.
4. Poor memory and weak sense of repayment.
Bian Xiao came into contact with some customers, because the monthly repayment amount is not large and the loan bank is not an ordinary bank, so there is a long-term overdue repayment phenomenon. According to the Supreme People's Court's Decision on Amending Several Provisions of the Supreme People's Court on Restricting the High Consumption of Executed Persons, those who have been brought into court execution and those who have broken their promises cannot fly or take high-speed trains in the future. Therefore, for buyers with poor memory, it is better to return them in advance.
The above is a complete interpretation of whether commercial loans are mortgaged and whether it is cost-effective to prepay commercial loans. I hope I can help you. In fact, you can apply for a commercial loan if you have a mortgage, but it will never be like applying for an ordinary commercial loan. I suggest that you can find a guarantee company to help you apply.