The issue of house loans is a very important common sense. Many families will choose to purchase a house with a mortgage. In fact, different forms of loan repayment methods have different characteristics and advantages. So which is the best mortgage repayment method? You can learn more about and compare it. What should we do after the mortgage payment is cut off? Many people will not repay the loan according to the regulations when buying a house. In this case, there will be a lot of troubles. Let’s take a look at these introductions.

How to make manual mortgage repayment?

First of all, you should consult the lending bank whether you can repay the loan manually. You can consult by phone. If the bank supports manual repayment, the borrower needs to bring his or her ID card (out-of-town home buyers need to hold a temporary residence permit), loan contract and other documents to the bank, fill in the application form information, and submit a manual loan repayment application. The bank will then provide a repayment account number. After the lender transfers the money to the repayment account, it will be considered that the borrower has repaid the mortgage for this month. On the repayment date, the system will no longer deduct the monthly payment from the bank card.

Which is the best mortgage repayment method?

There are two most commonly used and common repayment methods for mortgage loans, the equal principal and interest repayment method and the equal principal repayment method. Among them, the equal amount repayment method The principal repayment method is the most cost-effective. The monthly principal repayment method of the equal principal repayment method is fixed, and the interest will be less and less. The total interest is lower than the equal principal and interest repayment method.

What should we do after the mortgage payment is terminated

1. Most home buyers who apply to extend the loan period will choose a repayment period of 10 to 20 years when taking out a loan. If you encounter financial difficulties during the process, you can apply to the bank to extend the loan period. However, this method still requires negotiation with the bank. The bank will comprehensively consider the borrower's age, working ability, financial ability, etc., and only if the conditions are met, the bank will agree to relax the loan term limit.

2. Apply to the bank for a moratorium on principal repayment. If the home buyer is temporarily unable to repay the bank loan, he or she can negotiate with the bank and request that only interest be repaid within a short period of time without repaying the principal. Of course, the premise is that you must prepare relevant information about borrowing a loan, and then elaborate on the individual’s current inability to repay the loan, waiting for the bank’s approval. If you have other assets in your home that can provide strong proof of assets, it will be easier to get approval from the bank.

3. Remortgage or sell the house. If the home buyer’s financial ability is simply impossible to afford the mortgage, then the editor can only recommend selling the house. Home buyers need to be reminded that it is not easy to resell a house that is still under mortgage, because the debtor is still the bank, and the house is still mortgaged by the bank. Under normal circumstances, the following two methods can be used:

4. Remortgage, which means that after obtaining the consent of the bank, the bank will preside over the transfer of the property that you have not paid off the loan to someone who is willing to take over your property. person, and the receiver will continue to repay the mortgage.

5. Collect the buyer's down payment to repay the loan, and then transfer the house to the buyer after the mortgage is released, and the buyer will apply for a mortgage loan from the bank.

The above content introduces the issue of which mortgage repayment method is better. The most common repayment methods for mortgages are equal principal and interest and equal principal. You can compare the differences between the two and what to consider. This repayment method is better. What should we do after the mortgage payment is terminated? You can refer to some specific handling methods, because different banks have different handling methods. You can learn more about it.