2. Repayment of equal principal. When the borrower starts to repay the loan, the monthly burden will be even greater. However, as the repayment time goes on, the repayment burden will be gradually reduced, and the final total interest expenditure will be lower.
3. Free repayment of provident fund. Free repayment is a unique repayment method for provident fund loans. Compared with the traditional repayment of equal principal and interest or equal principal, the free repayment of provident fund is more flexible.
4. Repayment at fixed interest rate. The biggest advantage of fixed-rate mortgage is that the interest rate does not change with prices or other factors, but the fixed interest rate is often higher than the benchmark interest rate by a certain percentage point, because this is the risk of interest rate increase locked by the borrower in advance.
What should I do after the mortgage loan is paid off?
1. If the lender wants to repay the loan in advance, it is normal to make a phone call or make a written request. After the house purchase loan is paid off, you need to go through the formalities at the bank where the loan is located and get the proof of other housing projects. The bank will stamp the official seal on the certificates of other projects of the house and write down the cancellation opinions, such as: the loan has been applied and the mortgage is agreed to be cancelled. Settle other debt certificates that confirm the pledge in the bank, and go to the district construction committees to learn about the pledge.
2. Then, the property owner holds the original real estate license, other warrants and ID cards to go through the mortgage cancellation registration procedures at the mortgage department of the local property housing security and real estate administration.
3. If there is more than one name on the property right certificate, at least one property owner must be present, and the original ID cards of other property owners can also be handled. If there is a minor's name, the guardian must bring a certificate to prove the identity of the guardian.
If you have applied for the real estate license during the loan period, you only need to go to the window of the administrative service center housing management office with the cancellation form, other warrants and bank ID card. If there is no real estate license, after repaying the loan, take the cancellation form of the bank to the housing management office window for cancellation, and then apply for the real estate license.