Mortgage can shorten the loan life, but the borrower can't directly apply to the bank to shorten the loan life, and can only shorten the loan life by repaying in advance. Generally speaking, prepayment is divided into one-time prepayment and partial prepayment. If part of the repayment is made in advance, you can choose to shorten the repayment period, but the monthly repayment amount remains unchanged, or you can choose to reduce the monthly repayment amount, but the repayment period remains unchanged.

Matters needing attention in mortgage loan

Choose a reasonable repayment method. Once the repayment method is agreed in the contract, it cannot be changed. Therefore, when signing a loan contract with a bank, buyers must determine the most suitable repayment method according to their personal situation, the stability and amount of income. Avoid increasing the number of unnecessary repayment periods or the pressure of not being able to repay the monthly payment.

Guarantee to provide true information and increase credit. When applying for a personal loan, the bank will require proof of economic income. Remind buyers to provide real income, occupation and economic proof according to their personal situation. If you provide false proof of income in order to buy a house, once you can't get a loan, you will not only be liable for breach of contract if you can't buy a house, but also find that the information is false after the bank's audit, which will lower your credit rating and make it difficult to get a loan in the future.

Refer to the above? People's Network-The longer the loan period, the better? Don't let the mortgage bind your life.