The interest calculation formula of mortgage loan is: interest = residual principal × monthly interest rate. If full repayment is made in advance, the interest at this time = remaining principal on the last repayment date × monthly interest rate /30× actual days from the last repayment date to the full repayment date, 1. The bank will calculate for you how much principal has not been paid back in the last five years, and then you just need to pay back the principal. 2, but in fact you still suffer, because you paid more interest before; 3. Specific process: apply to the bank for prepayment, and the bank will arrange prepayment plan for you. Pay attention to three details when repaying loans in advance. You must ask the borrower to repay in advance, and it must be more than half a year after repayment, or even more than one year after individual banks ask for repayment. Banks generally require borrowers to submit written or telephone applications about 15 working days in advance. After the bank receives the borrower's application for early repayment, it needs to be examined and approved, so it usually takes about one month. In addition, banks have different requirements for repaying loans in advance. For example, some banks stipulate that early repayment of loans is an integer multiple of 654.38 million yuan, and some banks need to charge a certain penalty. Get the files ready. If the borrower needs to repay the loan in advance, he should generally bring his ID card and loan contract to the bank for approval after applying by phone or in writing. If the borrower has settled all the balance, the bank will deposit enough money to repay the loan in advance after calculating the remaining loan amount. 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. Don't forget to surrender and cancel the mortgage. If the loan is settled, don't forget to cancel the mortgage. The borrower should bring the real estate license, settlement certificate and other rights certificate mortgaged in the bank to the office of the District Housing Construction Committee to understand the mortgage situation. In this way, your own property can be completely your own property.
Application conditions
Borrower's requirements
1.1natural person aged 8-60 (Hong Kong, Macao, Taiwan, mainland China and foreigners are also allowed)
2 have a stable occupation, stable income and the ability to repay the principal and interest of the loan on schedule.
3. The borrower's actual age plus the loan application period shall not exceed 70 years old.
Information to be provided by the borrower
1. Couple ID card, household registration book/temporary residence permit, and foreigner household registration book.
2. Marriage certificate/divorce certificate or court judgment/single certificate 2 copies.
3 proof of income (format specified by the bank)
4. Copy of the business license of the unit (with official seal)
5. Credit certificate: including education certificate, other real estate, bank running water, large deposit certificate, etc.
6. If the borrower is an enterprise legal person, it must also provide the annual business license, tax registration certificate, organization code certificate, articles of association and financial statements.