Not cost-effective, because the interest rate is high. I believe that a lot of mortgage interest is actually mainly caused by the long loan term, but from the perspective of loan interest rate alone, the mortgage interest rate is actually not very high, and the annual interest rate will basically not exceed 7%. If the interest rate of provident fund loans is lower, it will be more than 3.25% in five years, which is impossible for many loans in the market.

Of course, there are also some bank loans with annual interest rates below 3%. It seems cost-effective to repay the mortgage with this kind of loan, but don't forget that the lower the loan interest rate, the stricter the requirements for the borrower. Generally speaking, only medical practitioners, banks, securities practitioners and other low-risk professionals and high-income private enterprise bosses are qualified, but ordinary people can't.

The key is that many low-interest loans are discount loans, and the use methods are clearly defined. For example, the applied commercial loan can only be used for the production and operation of the enterprise. After the loan is issued, the bank will monitor the use of loan funds, and provide capital consumption vouchers for loans with unclear capital flow. If it cannot be provided or the use is inconsistent, the loan will be paid off in advance.

In addition, after the mortgage loan, there will be a credit inquiry, and the mortgage bank will know the borrower's credit status and judge its lending risk through post-loan management. If there are large loans such as commercial loans in the post-mortgage credit report, it is likely that you intend to borrow commercial loans to repay the mortgage. If the lender applies to the bank to pay off the mortgage in advance, the bank may refuse.