What should I pay attention to when repaying the loan in advance?
1. Make an appointment with the loan bank in advance.
The time to repay the loan in advance needs to be agreed with the bank in advance. Under normal circumstances, you need to go to the bank one week in advance to discuss this matter. Only after the approval of the bank can you repay the loan in advance.
2. The issue of liquidated damages
Repaying the loan in advance is actually a breach of contract by the lender, and the bank has the right to demand liquidated damages from the buyers. For repaying the loan in advance, the bank will charge a certain fee, and the most common one is liquidated damages. Different banks have different standards for collecting liquidated damages, so it is best for buyers to consult the loan bank first. Generally, in the later period of repayment, if the interest is less than the liquidated damages, there is no need to repay in advance.
There is a limit to the amount of prepayment.
There are also restrictions on prepayment, not how much you want to change. Generally speaking, the bank will require the minimum repayment amount, that is, 654.38+0 million yuan. Secondly, the repayment amount must be an integer multiple of 6,543,800 yuan.
4. Ask to repay the loan in advance.
The time requirement for prepayment is also relatively clear, and banks do not allow some people to use mortgages as short-term liquidity. Therefore, most banks have requirements on the time of early repayment, for example, they can only apply for early repayment after one year of repayment. If the repayment time does not meet the requirements, then it is impossible to apply for early repayment. When you buy a house, you must not try to take advantage of the bank.
5. There are many requirements for prepayment of portfolio loans.
Many people choose portfolio loans when applying for loans, that is, using provident fund loans and commercial loans. Many property buyers have adopted a combination of loans to buy a house. They wanted to repay the commercial loan first when they repaid the loan in advance, but they were rejected! The reason is that when the portfolio loan is repaid in advance, it can not only repay one of them, but also maintain a certain proportion. At this time, if you choose to repay the loan in advance, you must ask the bank about this policy.
6. Pay attention to interest rates
Everyone repays the loan in advance, just to pay less interest. If you repay the loan in advance when the interest rate of mortgage begins to fall, it will be very uneconomical, so you will suffer a lot, because the falling interest rate offsets a lot of your previous pressure.