How to convert high-interest mortgages into low-interest loans?
1, converted to LPR floating rate pricing.
If it is converted to LPR floating rate pricing, after the re-pricing date, the mortgage interest rate can be lowered with reference to LPR reduction. Recently, the floating interest rate of LRP has been continuously lowered, and converting to floating interest rate is also a way to reduce interest rates.
Treatment method:
1) Take your ID card and bank card and go directly to the loan bank outlet to ask the counter staff to handle it;
2) Log in to the personal online banking of the loan bank, find my loan and convert it into lpr interest rate.
2. Convert to provident fund loans.
Commercial mortgage loans with high interest rates can be converted into housing provident fund loans. Compared with commercial loans, provident fund loans have always been loans with relatively low interest rates. However, you need to repay 1 year to convert.
Treatment method:
1) Go to the bank to consult whether you can refinance, and then submit a loan application, and prepare relevant materials including ID card, house purchase contract, provident fund deposit certificate, etc.
2) Entrust the bank to hear and review the submitted materials;
3) Bring relevant information and submit it to the Provident Fund Center for review.
4) Contact the original loan bank for repayment and obtain relevant materials from the original loan bank;
5) Submit relevant materials to the Provident Fund Center for review, and the Provident Fund Center will notify the customer to sign in person.
6) Go through the mortgage formalities.
3. Repay the loan in advance and shorten the mortgage term.
If part of the loan is repaid in advance, the loan principal will be reduced and the mortgage interest will be reduced. If the loan term is shortened at the same time, the interest will drop even more. This is also the method that most people take to cut interest rates in disguise.