In fact, refinancing is to convert high-interest loans into low-interest loans in order to reduce interest rates. For example, the bank mortgage interest rate is 5.4%, while the operating loan interest rate is 3.8%. If the mortgage is converted into an operating loan, the interest rate difference between the two loans will be 1.6%, which will definitely save a lot of interest.

However, the risk should be taken into account when refinancing a mortgage, which does not mean that it can only reduce the interest:

First of all, the repayment period will be shortened after refinancing a mortgage, with the longest loan period of 3 years, while other types of loans, such as business loans, have a longest loan period of 5 years. For borrowers, even after refinancing, the interest will be low, but the loan period will be shortened, and the monthly payment may be higher, which will increase the repayment pressure of borrowers.

Secondly, most loans are earmarked, which will involve the real use of funds. For example, if the loan is converted into a business loan, the bank will provide relevant consumption vouchers to verify the use of the funds in the later stage. If the borrower is not really operating, there is a risk of illegal funds. Once the bank recovers the funds in advance, it will be very troublesome for the borrower to be unable to repay them.

If the borrower really thinks that the mortgage interest is too high, it is better to apply for a pure commercial loan and turn the commercial loan into a provident fund loan. In this way, the nature of the loan is mortgage, and the interest rate of the provident fund loan is lower than that of the pure commercial loan, and it has a long term, which is more cost-effective than other types of loans, and there will be no above risks.

Personal housing loan is a kind of consumer loan, which refers to the loan granted by the lender to the borrower for the purchase of self-occupied ordinary housing. When a lender issues a personal housing loan, the borrower must provide a guarantee. If the borrower fails to repay the principal and interest of the loan at maturity, the lender has the right to dispose of its collateral or pledge according to law, or the guarantor shall bear joint and several liability for repayment of the principal and interest.

the object of the loan is a natural person with full capacity for civil conduct. The loan conditions are that urban residents are used to purchase ordinary houses for their own use, have a house purchase contract or agreement, have the ability to repay the principal and interest, have good credit, have a down payment of 3% of the funds needed for house purchase, and have a loan guarantee recognized by the bank.

individual housing loans are limited to the purchase of self-occupied ordinary housing and urban residents' self-occupied housing, and may not be used to purchase luxury housing. Is it true that Jinhe Law Firm cut interest rates on mortgage loans?

No. According to the investigation, the interest rate cut by mortgage lending is a scam. There are routines to cut interest rates by lending. In fact, the interest rate cut by lending is to turn high-interest loans into low-interest loans. However, some intermediaries will charge a lot of fees when lending, so it is not. Lowering the mortgage interest rate means cutting interest rates. Reducing the bank's loan interest rate will not increase the amount of market funds, but it can change the investment of funds. Its main purpose is to encourage investment behavior, but it does not necessarily mean that the currency circulation will increase. Is it a routine to reduce interest rates by refinancing?

Refinancing is actually to convert high-interest loans into low-interest loans, so as to achieve the purpose of reducing interest rates. For example, the bank mortgage interest rate is 5.4%, while the operating loan interest rate is 3.8%. If the mortgage is converted into an operating loan, the interest rate difference between the two loans is 1.6%, which will definitely save a lot of interest after conversion.

expand data;

Loan means that banks, credit cooperatives and other institutions lend money to units or individuals who use money, and generally agree on interest and repayment date. Loans in a broad sense refer to loans, discounts, overdrafts and other borrowing funds. By lending to banks, centralized money and monetary funds can meet the needs of society for supplementary funds for expanding reproduction and promote economic development. At the same time, banks can also obtain loan interest income and increase their own accumulation. Is it a scam to cut interest rates on mortgage loans?

not necessarily, it depends.

although the interest rate cut is expected to reduce the mortgage interest rate, the reduction is limited, and the mortgage reduction is actually very weak. Moreover, the reduction in the willingness to buy a house is not only due to the mortgage, but also the down payment. The interest rate cut cannot reduce the down payment, so this interest rate cut cannot stimulate the consumption of buyers, and it will not increase the sales of real estate enterprises.

what does it mean to reduce the mortgage interest rate and turn it into a loan? In fact, it is to convert your mortgage loan into mortgage loan by crossing the bridge. Generally speaking, the interest rate of mortgage loan is lower than that of mortgage, which will indeed save interest to a certain extent. But many financial institutions "exaggerate publicity"! Use data differences to create huge "visual differences" for you and seduce you.