Housing mortgage loan is repaid interest

Advance owing on the loan in advance notice to the bank

At present, all of the early owing on the loan Shouquweiyaojin provisions vary. Such as Shanghai city banks for loans a year off all loans to customers, will receive a certain number of default payment; for loans a year in advance repayment of the loan customers do not collect default payments. Beijing banks for repayment of housing loans in advance is not to collect default payments. Purchase in advance owing on the loan must notify the Bank of one to two months ahead of schedule, so that the bank can have time to change the loan contract preparation.

The early part of the repayment to have tens of

The current advance repayment has two kind of situations: one is part of the repayment, the loan
People in the process of repayment, need to repay part of the loan, but there is still part of the remaining 1629 to apply for bank loans. In this case, the bank will require the borrower to that part of the early repayment, in accordance with the whole tens of, such as 50000 yuan or 100000 yuan repayment to the bank.
Another is full of repayment. That the borrower to repay part of the loan, will
The remaining loans repaid one-time. The bank will not require the borrower must repay the loan in accordance with tens of, as long as the remaining loan repayment to the banks can.

Advance owing on the loan is not interest calculation

If the borrower in the repayment of part of the loan, to apply for early repayment of part of the loan or
They repay the remaining all loans, banks said, because borrowers in repayment of loans, there is no occupancy funds, so this part of the repayment of funds, the bank is not charge interest. The borrower will repay the remaining loan principal can.

How to handle all one-time advance owing on the loan

There are three main reasons: one is the early repayment of the cash on hand, and no other use or investment plan, hope the one-time loans; two is to be secured housing for sale; three is ready to other conditions more favourable financial institutions for mortgage loans. Because customers early repayment different reasons, so the banks for repayment procedures are not the same.

1 disposable repaid loans. Banks deal with such early repayment procedures are more simple. Banks generally require banks to inform customers in advance; bank calculation of the total arrears few good clients, designated customers prior to the bank to pay the amount; copies will be sent to the bank firm, for the abolition of mortgage contracts and the registration of property management; lawyers handling all formalities, will notify owners (ownership of this you have real access housing) back to all property contract.

2 customers will terminate housing loans sold. When customers with the new buyer to law firms signed contracts, law firms will customer enquiries to the bank Shang Qian bank payments, arrears few prices paid by the new buyer.

3 if customers cancel a bank mortgage loans to other financial institutions, its procedures and the termination of the sale of housing loans is similar, different is owed by other financial institutions to repay customers.

Advance owing on the loan interest can reduce the number of parts

Buy a house ahead of schedule another situation owing on the loan is the return of bank loans in advance. For example: at the end of 2001, Ms. Wang to the bank to apply for a $260000, for a period of 10 years of housing loans, after her monthly payment to the bank 2800 yuan. Now decided to have 100000 yuan bank loan. In to the bank for a month later, she changed the loan contract with the bank, after the monthly repayment amount to 1600 yuan. Ms. Wang calculations account, through early also to bank loans 100000 yuan, she saves about 30000 yuan interest.

Early repayment to buy a house people save a lot of interest, especially in the first few years of the loan. Purchase in the repayment of some years ago, the interest burden is heavy, because the principal base, the corresponding interest is high. The number of years, with the decrease of interest on the principal base, will also gradually reduce. But in that case, the thought of a settlement of the remaining loan people are not cost-effective, because interest proportion is very small. Therefore, the purchase of a proposed, in loans in previous years, for as much as possible have some money. Thus, loans to the principal base declined more, you pay less interest.

Advance owing on the loan should also return to the rest of the purchase of insurance, here need to remind borrowers owing on the loan is, don't forget to return the remaining property insurance. The borrower in the repayment of housing loans in advance, can be asked to return the remaining years to the housing loan insurance companies charge. In the process, that the borrower can carry the original insurance policy and advance repaid loans, refund to the insurance company a monthly premium in advance owing on the loan time. The insurance premium refund, refund calculation according to the specific formula.