What if the mortgage is paid off?
1, loan completion procedures, after the loan is paid off, the lender needs to go to the bank where he works, and the bank will issue the corresponding loan repayment certificate, which is very important and is the necessary material for the Housing Authority to handle the mortgage cancellation procedures.
2. When handling mortgage loans, banks usually mortgage the property. The buyer's real estate license also has a mortgage registration mark and cannot be listed and traded. Remember to cancel the mortgage registration in time once the mortgage is paid off. At this time, the lender shall go to the local housing management department with the completed mortgage cancellation application form, house ownership certificate, house ownership certificate or mortgage certificate. Only in this way can you get full ownership of the house.
3. If you have gone through the guarantee formalities in the guarantee company when applying for a loan, you need to go through the guarantee cancellation formalities in the guarantee company after paying off the mortgage and before going through the mortgage cancellation formalities, and you need to get back the guarantee deposit paid at the time of guarantee.
What are the precautions for repaying the mortgage in advance?
1, make an appointment in advance
During the loan period and within one year after the loan is issued, with the consent of the bank, you can apply in writing to repay part or all of the loan in advance. General banks need 2-7 working days to handle this business. Banks have different regulations on early repayment of loans, so lenders must make clear the operating procedures of loan banks before deciding to repay loans in advance.
2. The loan documents should be ready.
If the borrower needs to repay the loan in advance, he should generally apply by phone or in writing and go through the examination and approval formalities at the bank with his ID card and loan contract. If it is a borrower who has settled all the balance, after the bank calculates the remaining loan amount, it is convenient for the borrower to save enough money to repay the loan in advance.
If it is a customer or owner of the sub-mortgage business, it is best to find a professional guarantee institution to do entrusted notarization, so as to avoid the risk that the customer will not buy it after the owner repays in advance or the owner will raise the price after the customer pays the final payment with the down payment.
3. Calculation method of interest rate after interest rate reduction
The new interest standard will be calculated at the beginning of the new year, so even if the loan is to be repaid in advance, the lender should seize the opportunity and try to repay the loan in advance before the new interest takes effect at the end of the year. After paying off all the loans in advance, the lender should remember to surrender to the insurance company and other departments.
Step 4 give up
After the lender settles all the final payment in advance, the bank will issue a settlement certificate, and the borrower can call the relevant insurance company to make an appointment to surrender with the original loan settlement certificate, original policy and original bill issued by the bank. When the borrower applies for a loan, the bank will register the mortgage.