Calculate the monthly repayment amount of mortgage, multiply the total loan amount by the loan interest rate equal to the loan interest, and then divide the principal plus interest by the total number of months of loan to get the monthly repayment amount. For example, the loan 1 10,000, the interest rate is 5%, the interest is 500,000, and the principal plus interest10.5 million is divided by 20 years, that is, 240 months, and the monthly repayment is 6,250 yuan. There will be a bank card with a fixed amount of loans every month, and the bank will automatically deduct the money. The repayment date will be signed in the normal loan contract, and the deduction will be made on the specified date. If you have more funds in your hands later, you can also consider repaying in advance to save some funds.

What will happen if the mortgage is cancelled?

The consequences of mortgage default are as follows:

1. If the repayment is overdue, the credit report will show that the repayment is overdue on the specified date. Loans will basically be rejected in the future, whether it is commercial loans or provident fund loans.

2. Be sued by the bank. After overdue repayment, the bank will sue the repayment person, and serious banks will take the house away to offset the housing loan.

3. Banks collect loans, and normal banks have a grace period for repayment, which is about three to five days. If there is still no repayment, the bank may come to collect the loan and pay a certain penalty.

What happens when the mortgage is overdue for one month?

If the mortgage is overdue for one month, the bank's people will come to collect the loan and may also receive a subpoena from the court. Because when signing a contract with the bank, the specific repayment date is indicated in the contract. If the repayment date is exceeded, it is a breach of contract. Overdue repayment is a serious situation, and bad repayment records will also be reported to the credit bureau. If the loan is not paid, you can communicate with the bank in advance to apply for deferred repayment, and the bank agrees that it is no problem to repay within the specified time in the future. If you don't apply in advance, the bank will definitely sue for a loan, the court may return the house to the bank, and the house may be auctioned by others to offset the bank loan.