Matters needing attention in repaying loans in advance
1, don't forget to surrender.
After paying off all loans in advance, buyers should remember to surrender to insurance companies and other departments. Experts reminded that after the lender repaid all the loans in advance, the original individual housing loan contract was also terminated in advance. According to relevant regulations, the lender can bring the original insurance policy and the proof of paying off the loan in advance, and return the premium paid in advance to the insurance company on a monthly basis. The insurance premium refunded by paying off the loan in advance is the present value of the insurance premium paid at the time of early return minus the present value of the insurance premium occupied before early return.
2. Portfolio loans do not have to be repaid with provident fund loans first.
For provident fund loans, is it necessary to pay off the provident fund loans before applying for early repayment of commercial loans? According to insiders, only the money in the provident fund account must be used to pay off the provident fund loan first. If it is other self-owned funds, it can be decided whether to repay commercial loans or offset provident fund loans first according to personal preferences and needs.
3. Handle the mortgage cancellation.
Bankers pointed out that because many lenders are indifferent to mortgage loans, they often forget to go to the property rights department for mortgage cancellation after prepayment, so that although the loan has been paid off, the house is still filed in the property rights department, which will bring unnecessary trouble to future housing transactions. When the lender cancels, it needs to apply for the mortgage certificate returned from the bank, and get the cancellation registration form from the house mortgage property right department (be careful not to handle it across regions), and finally attach the purchase contract or property certificate to cancel the mortgage.