For example, Mr. Yang, who just spent 580,000 yuan to buy a second-hand commercial house in July this year, is unwilling to bear the extra interest money for no reason, so he wants to use the remaining 65,438+million in his hand to repay the loan in advance and return himself as a "free man" as soon as possible. Mr. Yang's house is located in Zhongguancun, and the appraised price is 500,000 yuan. After the down payment of 230,000 yuan, the loan amount is 350,000 yuan, and the mortgage loan period is 15 years. At present, according to the repayment of equal principal and interest, the total interest payable by Mr. Yang is 175 184.62 yuan. So far, he has borrowed money for four months, and the interest paid is 6,742.68 yuan, so the mortgage loan principal is 34,5071.92 yuan, and the interest payable is 16844 1.94 yuan. Professionals analyze five ways of repaying loans in advance for banks at present, that is, paying them off at one time; The monthly supply is unchanged and the term is compressed; Reduce the monthly payment and maintain the repayment cycle; Double reduction of monthly payment and term; Which method is more suitable for Mr. Yang to increase the monthly payment, squeeze the term and pay less interest? This print invites thousands of professionals from the market research center to give guidance: the first repayment method: one-time prepayment, as its name implies, means paying off all the loans, which means that the borrower needs to settle all the principal and interest clearly. This way is the most cost-effective for buyers, but it also has the highest economic requirements for borrowers. Because Mr. Yang Can's current one-time repayment amount is only 654.38 million yuan, he can't afford this way at all. The second repayment method: the monthly payment is unchanged and the compression period is shortened. If Mr. Yang repays 654.38+10,000 yuan first and chooses to keep the monthly payment level unchanged, that is, the monthly repayment is 29 17.69 yuan, and the loan period is shortened to 9 years accordingly, then the total interest he should pay in the future is 702 12.33 yuan, and the total interest of his mortgage loan is 70265.3000006076 The third repayment method: If Choose 15 as the loan term. At present, there are 8 months left in 14, so the monthly repayment amount is 2072438+06 yuan, and the monthly payment level is correspondingly reduced to 845.53 yuan. In this way, his total interest expense in the future is 1 19628.36 yuan, and his total mortgage interest is 12637 1.04 yuan, with the interest reduced by 488 13.58 yuan. The fourth repayment method: monthly payment, with a double reduction in term. If Mr. Yang repays 6,543,800 yuan in advance, shortens the repayment period of the remaining loans to 654.38+ 00 years, and pays off the remaining loans five years in advance, the monthly payment will be 2,697.48 yuan, with a corresponding decrease of 220.438+0 yuan, and the future interest expense will be 78,625.25 yuan, and the total interest of the mortgage loan will be. The fifth repayment method: increase the monthly payment and squeeze the term. If Mr. Yang repays 654.38+10,000 yuan in advance, shortens the repayment period of the remaining loans to 8 years, and pays off the remaining loans 7 years in advance, the monthly payment will increase to 365.438+097.97 yuan accordingly, and the future interest expense will be 665.438+0933.27 yuan, and the total interest of the mortgage loan will be 68.675 95 yuan. Interest decreased by 65,438+006,508.67 yuan. Experts remind: Precautions for prepayment. Insiders reminded that the situation of raising interest rates this time is different from the past. Although the interest rate is slightly raised by 0.27% on the surface, the bank's preferential policies for commercial personal housing loans have been expanded from 0.9 times to 0.85 times of the benchmark interest rate, which means that the interest rate increase is only 0.06%. Taking the five-year loan period as an example, the loan amount per 10,000 yuan is increased by 0.28 yuan, which is not very large. Therefore, before repaying the loan in advance, we should consider whether it is suitable for repaying the loan in advance, which is the most economical and economical, and what matters should be paid attention to in repayment, especially the application process and many small details when repaying the loan in advance. The details are as follows: to make an appointment for the borrower to repay the loan in advance, we must first sign a supplementary agreement with the bank. This agreement is mainly used to change the loan amount or loan term. Second, we should go through the formalities of repaying the loan in advance. Most borrowers are not sure that they have to submit an application to the loan bank in advance before they can go through this procedure. They can only go to the bank for prepayment after the bank replies. For example, ICBC requires borrowers to make an appointment 30 working days in advance, and usually the bank will give a reply in about one month. Therefore, if consumers want to repay in advance, they should act in advance so as not to delay the opportunity. Cancellation of mortgage registration is an essential step. After the borrower pays the money in the bank and pays the interest of the current month, there are generally two situations. The first is that the bank will send the deed to the law firm designated by the contract, handle the contract to cancel the mortgage loan and register with the real estate management department. After completing the formalities, the lawyer will inform the owner to take back all the real estate contracts, including the original property certificate. Second, some banks don't go through lawyers. At this point, the borrower should pay attention to take the loan settlement certificate issued by the bank and go to the mortgage department of the real estate management department to cancel the mortgage registration. Repay the loan in advance. Don't forget to surrender early. After all the loans are repaid in advance, the home insurance contract of the original individual housing loan will also be terminated in advance. The borrower can bring the original insurance policy and the proof of paying off the loan in advance to the insurance company to refund the unexpired insurance premium. However, it should be noted that if the purchaser does not pay off all the loans at one time, he cannot ask for surrender.