First, there is no need to repay the mortgage in advance with money in hand. Under normal circumstances, everyone's income will gradually rise, and the pressure of repayment in the later period will become smaller and smaller, but there are also some situations that are more suitable for repaying the mortgage in advance:

1. If the repayment method of equal principal and interest is selected, it is better to repay in advance when the mortgage period is less than one third and when the average capital is less than one quarter.

If the borrower wants to use the house as collateral to apply for more loans, or wants to buy or sell, it is no problem to repay in advance.

3. The mortgage has been repaid for two or three years, and the borrower really doesn't like to be in debt, which is very resistant to the mortgage that has been repaid for twenty or thirty years. Therefore, it is more cost-effective to repay in advance, which can reduce a lot of interest and relieve your psychological pressure. In the early stage of repayment, in the first few years of the loan, the principal base is large and the interest is correspondingly high. If you have idle funds on hand and have no good investment direction, you can consider paying back some in advance.

4. The borrower has a lot of money, no suitable investment channels, and the annual rate of return on financial management is lower than the mortgage interest rate. You can consider repaying the mortgage in advance.

The future loan interest rate is likely to rise. If the mortgage interest rate is likely to rise sharply in the future, it is better to repay the loan quickly while the interest rate is low and the interest rate is low. However, according to the current situation, it is unlikely that China's loan interest rate will rise in the near future.

6. There is a large balance in the provident fund account. In many cities, the provident fund is earmarked and cannot be withdrawn. If the provident fund account has accumulated a lot of money, and you can only enjoy negligible interest on current deposits, it is better to repay the loan in advance.

7. Self-exclusion of debt. For most property buyers, the feeling of owing money on mortgage is not good, and some people may be anxious about their lives. If you think of having a huge debt, you can't eat well or sleep well, just have more money. It's better to repay the mortgage as soon as possible. After all, your body is the most important.