The reduction of Jiashan mortgage interest rate has been completed, and attention must be paid to this matter. The interest rate of existing mortgages has been reduced, has this saved hundreds of people with mortgages in Jiashan County? Have fun! Either way, it's a good thing. However, have you ever wondered why banks cut interest rates so sharply? Therefore, the following must be noted: it must be remembered that if interest rates are lowered, the money saved must be saved and not squandered. In addition, the loan must be repaid in advance. Interest must be calculated regardless of how much the interest rate is reduced. Even if interest rates are lowered, there is still a lot of interest. Whether house prices can outperform inflation in the future is uncertain. The rate cut is intended to encourage people not to make early payments. Next, I will introduce you to three ways to make early repayment. Most people will choose the first or second way, but it is better to choose the second.
The first way is to repay part of the loan first, the term remains the same, and the remaining monthly payment is reduced, which is also the choice of most people. This method can only be said to be able to pay back a little more, but the interest is still very high, because the interest is still paid first.
The second way is to shorten the term of the loan and keep the monthly payment unchanged. It is best to choose this way when you do not pay off the principal in one lump sum. I tell you, the best option is this way.
Some may ask, what is the meaning of repayment? The monthly burden is still significant. Then I tell you, you can calculate the interest gap between the first and second ways. Once you calculate the gap, you won't think that way anymore.
The third way is to pay off all the loans at once, which is also not much to say. However, if it is equal principal and interest, then most of the interest is repaid in the first third. In the end, you'll find that the principal isn't reduced much, so it's best to repay it early.
All in all, this is a good thing. However, it is best for families who just need to live in Jiashan to save some money. It is best for ordinary people not to use credit cards or online loans. In addition, the mortgage will follow you for 30 years and you will need to make your own monthly payments. Nothing to do with others, so be sure to check your finances and choose the one that's right for you before buying a home. I am The Little Prince, a property salesperson in Jiashan and my mission is to help you find the best home for you.
