Because a house is not only a place where family members live, but also brings them a sense of security, many people now choose to buy a house. But for those who don't have enough savings, it is difficult to buy a house, so they will choose to apply for a mortgage. Some people also have some questions about mortgage repayment, such as: Is it appropriate to pay off the mortgage in advance when there are 30 years left 10 years?

Nowadays, many people want to buy a house to add a guarantee to their lives. However, not all buyers can buy a house in full, and most people choose to buy a house with a loan. Therefore, some people have such doubts about the mortgage: after signing the mortgage for 30 years, they have enough funds when there are 10 years left, and they can pay off all debts in advance. Is it appropriate to pay off in advance?

In fact, what we want to know more about this issue is whether it is more cost-effective for us to pay off the arrears in advance. Because the mortgage is not a small sum, if you can pay it off in advance, you may save yourself some interest; However, if you use the money needed for prepayment to manage your finances, there may be some gains, so how to choose it is more appropriate?

First of all, the borrower should calculate in advance how much it will cost to pay off the loan in the next ten years (that is, the total amount of prepayment), and then he can choose a wealth management product or investment with relatively stable income, such as national debt, and calculate how much income he can get after ten years (that is, the total amount of wealth management income).

Then, the lender needs to calculate how much money it needs to pay off the loan in the next ten years according to the original agreement (that is, the total amount of loans in 10), and then subtract the total amount of prepayment from the total amount of loans in 10 to get a value, that is, the amount saved by repayment ten years in advance (that is, the total amount of money saved).

After all calculations are completed, compare the total wealth management income with the total savings. If the total income from financial management is greater than the total amount of savings, it is very cost-effective to pay off in advance; If the total income from financial management is less than the total savings, it is not cost-effective to pay off in advance. You can choose to repay according to the original repayment method and repayment time.

2. I'm going to pay off the mortgage within 300,000 10 years in advance. Is it appropriate to pay off my loan in twenty or thirty years?

20 years is appropriate.

According to the current benchmark interest rate of 5.9%, the interest rate for 20 years and 30 years is the same.

The following figure shows the loan calculator, which repays the loan by matching the principal and interest, with a monthly payment of 765,438+00.67 yuan in 20 years and 593. 14 yuan in 30 years. After 10 years, the interest paid by the former is 70561.761/2 = 35280.88 yuan, and the interest plus principal is 35280.8100000 =135280./kloc. The interest paid by the latter is113529.141/3 = 37433.05 yuan, and the interest plus principal is 37433.050000 = 237433.05 yuan.

Third, is it appropriate to repay the mortgage 4 years 10 in advance?

It is more cost-effective to repay the loan with equal principal and interest four years in advance. As the remaining principal and outstanding interest on the day when the loan is paid off. The amount of interest saved by early repayment is related to the time to pay off the loan in advance. The sooner you repay the loan in advance, the more interest you will save.

Personal housing loan refers to the loan business issued by the lender to the borrower for the purchase of owner-occupied housing, which is one of the main asset businesses of commercial banks. Refers to the loans that commercial banks open to borrowers for their houses (that is, real estate developers or houses sold to individuals after completion).

Personal housing loans mainly have the following three loan forms:

(1) The full name of personal housing entrusted loan is personal housing guarantee entrusted loan, which refers to the personal housing loan entrusted by the housing fund management center to commercial banks by using the housing provident fund. On the one hand, the policy of individual housing loan is its low interest rate; On the other hand, it mainly provides such loans to low-and middle-income workers who pay the provident fund. However, because the interest difference between housing provident fund loans and commercial loans is above 1%, both investors and ordinary people who buy houses and live in their own homes are more inclined to choose housing provident fund loans to buy houses.

(2) Personal housing self-operated loans are loans granted to individual buyers with bank credit funds as the source. Also known as commercial personal housing loans, personal housing secured loans.

(3) Personal housing portfolio loan refers to the loan to purchase self-occupied ordinary housing with housing provident fund deposits and credit funds, which is a combination of personal housing entrusted loans and self-operated loans. In addition, there are housing savings loans and mortgage loans.

Potential borrower

The loan object should be a natural person with full capacity for civil conduct. The borrower shall meet the following conditions:

1. Have permanent residence or valid residence status in cities and towns;

Two, a stable occupation and income, good credit, the ability to repay the loan principal and interest;

Three, with the purchase of housing contracts or agreements;

Four, do not enjoy the purchase subsidy to not less than 30% of the total price of the house purchased as the 30% payer of the down payment.

Five, there are assets recognized by the lender as collateral or pledge, or units or individuals with sufficient compensation capacity as guarantors;

6. Other conditions stipulated by the lender.