Before applying for a mortgage, the borrower will sort out his financial situation and check his credit report. We will also study whether the specific loan interest rates and regulations of banks applying for loans have changed. How normal is mortgage interest? Do you suggest repaying the mortgage in advance when you have money in your hand? Let's get to know each other!
How normal is mortgage interest?
Mortgage interest needs to be calculated according to the mortgage interest rate and the borrower's personal comprehensive qualification. After knowing the interest rate, it is necessary to divide the loan amount into n periods according to the number of repayment periods, and multiply the unpaid amount of each period by the loan interest rate until the current interest is paid off; The principal and interest during the loan period will be calculated on an annual basis, and the sum of the principal and interest repaid in each period is equal.
Mortgage interest rates generally include pure commercial loan interest rates and provident fund loan interest rates. The interest rate of provident fund loans is very low and generally will not change. Basically, the monthly interest rate of provident fund loans for more than five years is five years, and the annual interest rate of provident fund loans is annual interest rate. The interest rate of pure commercial loans fluctuates greatly, and all major banks have a minimum loan interest rate of 65,438+00% on the basis of LPR interest rate. According to the feedback from some property buyers, the mortgage interest rate in recent years is basically 5%-6% so far. Suppose the borrower applies for a loan of 6,543,800 yuan, then the annual loan interest is between 50,000 yuan and 60,000 yuan.
Do you suggest repaying the mortgage in advance when you have money in your hand?
If you have money, it is recommended to repay the mortgage in advance. Because after repaying the mortgage in advance, you can pay less interest. After all, interest is generated by the principal. If the borrower can pay off the principal or pay off part of the principal, the interest will naturally be much less, which will also reduce the monthly payment pressure of the borrower.
The above is the sharing of "mortgage interest is generally normal", I hope it will help everyone!
654.38+ 10,000 yuan, should I repay the mortgage in advance?
Whether 654.38+ 10,000 yuan is deposited in the bank or repaid in advance depends on your actual situation. If you put your money in the bank and don't make other investment or financial planning, the income is very low, which basically can't beat the mortgage interest rate, that is, the income basically can't cover the mortgage interest, and it is undoubtedly better to pay back the money. If the money can generate more income in hand, it is not recommended to repay in advance. After all, it is not easy to take it back, and you have to take the property as collateral.
Personal housing loan is a kind of consumer loan, which refers to the loan issued by the lender to the borrower for the purchase of ordinary housing for personal use. 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 be jointly and severally liable for repaying the principal and interest.
The loan object is a natural person with full capacity for civil conduct. The loan conditions are that urban residents use it to buy 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, and have a down payment of 30% of the funds needed for house purchase and a loan guarantee recognized by the bank.
How to judge whether it is necessary to repay the mortgage:
Look at the mortgage interest rate
Before considering prepayment, you should look at your mortgage interest rate. At present, the benchmark interest rate for mortgages with a term of more than five years is 4.9%. At present, interest rates in cities all over the country are floating, but it does not mean that the previous interest rates are floating. Therefore, the loan depends on the mortgage interest rate. If the mortgage interest rate is discounted or the provident fund loan is used, and the benchmark interest rate of the provident fund loan is 3.25%, then in the case of interest rate discount or provident fund loan, the significance of early repayment is not great, because many bank deposit interest rates can reach the mortgage interest rate.
If the interest rate rises, or the benchmark interest rate rises, it depends on the purpose of 654.38+ 10,000 yuan. If you simply deposit the fixed interest rate in the bank, it is definitely not cost-effective to repay in advance. The annual interest of 654.38+ 10,000 yuan does not exceed 5,000 yuan, or even most of it is around 3,000 yuan. In the initial repayment period, the mortgage interest of 6,543,800 yuan was almost 654.38+ 0.
Look at the repayment period
Early repayment depends not only on the mortgage interest rate, but also on the number of years of repayment. For example, a 20-year loan has been repaid for 65,438+00 years, or for 6 years. In this case, the interest is 65438+ 1 100 million years, because at first, the monthly mortgage interest accounts for the majority and the principal accounts for a small part, and the monthly interest decreases and the principal increases, so after a certain period of repayment, the monthly mortgage will be paid off.
Can I repay the mortgage in advance if I have money in my hand? How many years is the best for the average capital to advance?
Can I repay the mortgage in advance if I have money in my hand?
No need. With money in hand, there is no need to repay the mortgage in advance. Under normal circumstances, everyone's income will rise slowly, and the pressure of repayment in the later period will become smaller and smaller.
How many years is the best for the average capital to advance?
The best time for prepayment in average capital repayment method is before one third of the loan term. For example, if a customer applies for a 30-year loan, it is more cost-effective to choose the previous 10 year for early repayment, which can save more loan interest for the customer.
When customers choose to prepay, they must pay attention to the repayment period and whether there is any liquidated damages for prepayment contract. Sometimes customers repay loans in advance, and repayment in advance will not cause liquidated damages. Because of the existence of liquidated damages, it may not be worthwhile for customers to choose to repay in advance again. In addition to early repayment, customers can also repay according to the prescribed time limit. No matter what repayment method customers choose, they should return the details of income and expenditure in time.
Once in loans overdue, it will bear the following adverse effects:
1, personal credit will be hurt.
2. It can be urged by the lending institution.
3. It will also generate overdue interest.
4. Lending institutions will require early repayment.
5. It will affect other loan applications. It can be seen that once the loan is granted to customers in loans overdue, the consequences will be very serious.
What are the precautions for prepayment?
1, make an appointment in advance
During the loan period and within one year after the loan is issued, with the permission of financial institutions, you can apply for early repayment of part or all of the loan. General banks need 2-7 working days to handle this business process. Every bank has different regulations on early repayment, so lenders should try to understand the operation process of loan financial institutions before deciding to repay loans in advance.
2. The loan documents should be ready.
If the borrower wants to repay the loan in advance, he usually needs to bring his ID card and loan agreement to the bank for approval after calling or applying. If it is a borrower who pays off all the balance, the bank will help the borrower save enough money to repay the loan in advance after calculating the remaining loan amount.
If you are the customer and owner of the mortgage business, it is good to find a professional guarantee institution to make a notarial certificate, so as to avoid the risk of the price increase of the community owner after the community owner repays in advance or the customer helps the community owner to settle the balance with the down payment.
3. Calculation method of interest rate after the central bank cuts interest rates.
The new interest rate will be calculated at the beginning of the new year. Therefore, even if the loan is to be repaid in advance, the lender should seize the opportunity and strive to repay the loan in advance before the new loan interest takes effect at the end of the year. After all the loans are settled in advance, the lender should know to return the insurance to the auto insurance company and other departments.
4. Refund insurance
After the lender settles all the balance in advance, the bank presents the loan settlement certificate, and the borrower brings the original loan settlement certificate, the original insurance policy and the original tax bill issued by the financial institution and calls the relevant auto insurance company to make an appointment for a refund. When the borrower applies for a loan, the financial institution will register the mortgage.
If you have money in hand, is it recommended to repay the mortgage in advance?
If you have money, it is not recommended to repay the mortgage in advance.
First, the bank collects liquidated damages.
Some banks will charge liquidated damages in order to limit your early repayment, and the amount is not small.
If the repayment period of the matching principal has passed 1/3, the later the matching principal is repaid, the less the remaining principal will be, and the less interest will be generated. If you have repaid more than 1/3, it means that you have paid off nearly half of the interest, and the rest is basically the principal. It is not cost-effective to repay the banquet in advance.
Matching principal and interest repayment has reached the middle stage.
Corresponding to the average capital, it is naturally equal principal and interest. In the monthly repayment of equal principal and interest, the proportion of principal increases month by month, and the proportion of interest decreases month by month. If half of the loan has been repaid and most of the interest has been repaid, there is no need to repay the loan in advance.
Loan with provident fund
Provident fund loans themselves have great interest rate concessions. Instead of repaying the loan in advance, it is more cost-effective to take money to do some financial management to earn income.
currency devaluation
Suppose you want to buy a 600,000 house with a down payment of 30%, then you have to pay a down payment of 6.5438+0.8 million and the remaining 420,000 bank loans. If your loan term is 30 years and the commercial loan interest rate is 4.9, the total interest to be paid is as high as 380,000. So the interest is almost the same as the principal.