The monthly payment remains unchanged, but the repayment period is shortened. In other words, repaying part of the loan in advance reduces the total amount of the loan, while the monthly repayment amount of the mortgage remains unchanged. And repaying the mortgage in advance may face liquidated damages, so it is recommended to consult the bank staff before repaying the mortgage in advance. Major banks have different rules for repaying mortgages in advance.

In addition to the restrictions on repayment methods, early repayment also requires payment of liquidated damages, which is also for banks to make up for the reduction of profits.

Early mortgage repayment requires an appointment in advance. At this time, every bank has certain differences. If it is fast, it can be returned the next day. If it is slow, it may take several months. The material is relatively simple. Prepare your loan contract, ID card and repayment bank card, deposit the money in this card, go to the bank to fill out the repayment application form and wait for the bank to deduct the money.

There are two main ways to repay in advance: one is to pay off in full and the other is to pay off in part. Some cities have high housing prices and large loans, and few people can pay off the loans in full, so most people will choose to repay the loans in advance. There are two ways to repay the loan in advance: one is to shorten the loan period and keep the monthly repayment amount unchanged, and the other is to reduce the monthly repayment amount and keep the loan period unchanged. Among the two ways of partial repayment, the former can save more interest than the latter, but some banks default to the first way, that is, the one with high interest. This happens because the buyer pays less interest, which means that the bank gets less income, and the one with high interest can guarantee the bank's income. Of course, there are differences in policies between banks, and there will be differences in specific implementation.

There are generally two ways for banks to collect liquidated damages:

First, it is calculated according to 2%-5% of the outstanding balance at the time of prepayment, such as a loan of 6,543.8+0,000, and there is still 500,000 left after prepayment, so you have to pay a penalty of 654.38+0-25,000.

Second, charge interest for several months, such as penalty interest for less than one year for three months; Penalty interest of two months for repayment over one year and less than two years; There is no penalty interest for repaying loans for more than two years.

The overall credit policy has been tightened this year. In order to alleviate the problem of tight mortgage balance, banks in some cities will encourage buyers to repay in advance and even give preferential relief for liquidated damages. Please consult the loan bank for details.