Can I pay off my mortgage in one lump sum?
1, which can be paid off at one time. According to the bank's regulations, customers who repay in advance need to submit a written application one week to one month in advance and agree on the repayment date. Then, according to the agreed date, bring your ID card and the loan contract signed with the bank to the bank to fill in the loan repayment application form and prepayment agreement, and deposit the money to be repaid into your account for withholding the loan principal and interest according to the requirements of the bank, which will be automatically deducted.
2. Some borrowers who repay the loan in advance can choose two ways: one is to reduce the monthly repayment amount and keep the repayment period unchanged; The other is to shorten the repayment period and keep the monthly repayment amount unchanged.
3. If the income of the lender keeps increasing, you can choose the repayment method of shortening the loan term and realize the desire of debt-free and light as soon as possible. If the income does not increase too much, you can reduce the repayment amount and keep the repayment period unchanged, which can reduce the repayment pressure.
4. It is worth mentioning that the Application Form for Early Repayment is irrevocable once confirmed by the borrower's bank. As a supplementary clause of the loan contract, it has the same legal effect as the loan contract.
5. If the loan purchaser fails to repay the loan in advance according to the date and amount specified in the application for prepayment issued by him to the borrower's bank for any reason, it shall be regarded as repayment, and the loan purchaser shall bear corresponding liabilities for breach of contract according to the loan contract.
What procedures do I need to go through after the mortgage is paid off?
1. First, go through the formalities of cancellation of mortgage right with the borrowing bank, then go through the formalities of returning the corresponding insurance premium with the insurance company, and finally go through the formalities of returning the deposit with the developer.
2. If you have already applied for the real estate license during the loan period, you only need to bring the cancellation form, other warrants and the bank's ID card to the window of the administrative service center. If you don't have a real estate license and repay the loan, please take the bank's announcement form to the housing management office window to cancel.
In fact, each bank has different operating rules for the procedures after the house loan is paid off.
3. However, when banks apply for housing loans, they will generally register the real estate as a pawn, and the real estate license with the pawn registration mark will restrict the sale and re-pawn of the real estate. After the loan is paid off, the property owner needs to go to the bank to cancel the pawn registration, and then go to the Housing Authority to cancel the pawn registration compared with the procedure after the loan is paid off. At this point, the owner has full ownership of the property and can conduct some trading rights.
4, buying a house needs to be treated with caution. After all, buying a house is not a trivial matter, but it takes a long time to accompany yourself. Since you choose to buy a house, you should choose the house you like.
After handling the mortgage, we must pay attention to timely repayment, because the bank will evaluate the personal credit according to the repayment situation. If you can't repay in time, it will affect your personal credit record. The above is about whether it is ok to pay off the mortgage at one time, and what procedures need to be handled after the mortgage is paid off. When you pay off the mortgage, you should pay attention to the specific process.