Partial prepayment means that when you have spare money, you can directly return tens of thousands of principal to the bank. After prepayment, there are two options: first, the repayment period remains unchanged, and the monthly repayment amount decreases; Second, the monthly repayment amount remains unchanged and the repayment period is shortened.
Determine your loan period before lending. Once the loan term is determined, it cannot be changed halfway. But you can repay the loan in advance, that is, you pay off all the money in advance before the loan deadline.
It is recommended to apply for prepayment, so that you can apply for shortening the service life and changing the service life of the housing loan. But it depends on how the loan contract is agreed, whether there are liquidated damages and the process of repaying the loan in advance, which will be agreed in the contract. # You need to see which bank has different repayment methods. You can call directly to ask about your specific situation. We don't say that, but we can repay in advance, but the minimum is 50 thousand. Different banks have different liquidated damages for early repayment, but they are much less than interest. # Be sure to determine your loan life before lending. Once the loan term is determined, you can't change the loan term halfway, but you can repay the loan in advance, that is, you can pay off all the money in advance before the loan term, and it is impossible after the extension. In addition, if prepayment is adopted, the same property will not be able to apply for provident fund loans in the name of individuals. If you want to borrow again in the future, you can only apply for a consumer loan for the property. Second, the monthly repayment amount remains unchanged and the repayment period is shortened.
Determine your loan period before lending. Once the loan term is determined, it cannot be changed halfway. But you can repay the loan in advance, that is, you pay off all the money in advance before the loan deadline. It is recommended to apply for prepayment, so that you can apply for shortening the service life and changing the service life of the housing loan. But it depends on how the loan contract is agreed, whether there is a penalty, and the process of repaying the loan in advance, which will be agreed in the contract.
The above contents are for reference only, I hope I can help you. Thank you for your support to Kanfangwang. I wish you a happy purchase!