Lead
With the heating up of the national property market and the hot second-hand housing transactions, people will have a wish in their hearts, that is, they hope to pay off the mortgage as soon as possible, which can be regarded as a kind of "insurance" for the future.
Similarly, the mortgage is gradually becoming a daily expense as an ordinary person, and it is impossible to repay it every month, and it is impossible to repay it a month in advance, but there are also people who pay off the mortgage several years in advance.
So is prepaying your mortgage smart or foolish?
A bank teller revealed: "Many people are still giving away money for nothing."
Some people pay their mortgages early, and some people don't pay them for decades.
The term of the mortgage is generally 30 years, and these 30 years are very happy and very long.
For people who are old and young, the monthly payment can be described as a lot of money, and it is absolutely impossible to pay a little less every month without giving money to the bank.
Is there a way to pay less on your mortgage without spending money?
That's prepayment of your mortgage.
Prepayment of the mortgage is everyone's wish, and the monthly mortgage is the biggest daily expense, and there is no such pressure when the mortgage is repaid early.
And after the mortgage is completed, you can save a lot of money every month, which can be used for other expenses.
When many people get the right to repay early, they will repay a little bit in advance, so that they can pay less interest every month.
However, there are also some people who repay a large amount of money in advance every time, and can repay all the mortgages several years in advance.
It is said that how many people have how much thought, and everyone has their own ideas about paying it back in advance.
Some people will choose to pay back a large amount, and some people will choose to pay back a little.
But there are also many people who can't pay back this money, and then take a lifetime mortgage and don't pay it back.
At this point, the bank has no choice but to see if it can give the person the opportunity to repay in advance, or take the mortgage that he will not repay.
And those who pay a large sum in advance, are they smart people?
Paying off your mortgage early is smart or confused.
When we hear that someone else's friend has repaid their mortgage for 1-2 years in advance, we will definitely have a trace of envy in our hearts.
Because they have repaid so much less, so much in advance, and so much less interest, they are called smart people.
So are they really smart people prepaying their loans?
Let's talk about why these people will repay the loan early: it may be that the family is wealthy and attaches great importance to interest, so they will choose to repay the loan early, or it may be that their income is early, so they will repay the loan in advance.
Banks generally stipulate that there will be a certain amount of early repayment every year, and the excess amount will be fined.
Take a chestnut:
If someone takes out a loan of 30W and can repay 5W in advance every year, then in his 30W loan, he can repay the mortgage in one lump sum in the 6th year, of course, he can also choose to repay 5W every year, but this not only takes a long time to repay, but also spends an extra sum.
If the person pays the mortgage in this 6th year, then he pays back the interest of 6W.
If he repays the mortgage in the 15th year, then he has repaid a total of 10W of interest, so he has a lot of interest repaid, and he will pay the mortgage early.
It's good to be able to pay off the mortgage early, but if you pay it off all at once, then there is no record of the loan, so [his personal credit history] will deteriorate.
Although it is a good thing to be able to repay the mortgage in advance, it is true that the bank money is given away in vain, which can be seen from the bank teller, he will have someone to repay the loan in advance every day, and many loan repayers will come again not long after the loan is repaid, so they feel that the person who repays the loan in advance is sending the bank money for nothing.
Therefore, the matter of prepayment of the loan really cannot be generalized, and it should be determined by the individual.
There are pros and cons to prepaying your loan.
If someone asks you if you can prepay your loan, you probably know what to do.
With the continuous rise in housing prices, many people who have houses have set up a flag and want to pay off their mortgages as soon as possible, but many people are very poor, although they have houses, but the economic situation of the family is not so good, so this can only set a flag.
However, there are also some people who can really afford to take advantage of the rise in housing prices to repay the mortgage at one time, so the bank also depends on your personal situation, so this is also the disadvantage of early repayment, that is, it is possible that the bank will not let you repay it all at once.
With the continuous development of the times, the bank's regulations are also constantly optimized, and for ordinary people, it is very cost-effective to repay the loan 5 or 3 years in advance.
Therefore, when repaying the loan in advance, you must listen to the bank, otherwise you will give money for nothing.
There are many advantages to prepayment: first, it can reduce the debtor's debt pressure and reduce unnecessary economic expenses, which can make people happy; Second: if the economic situation is suddenly bad in the future, then as long as the person has a certain amount of savings, he can return to the previous level, and he will not be very embarrassed, and even some people can continue to save some savings to reduce economic risks; Third: If you can repay the bank less interest, for the debtor, you can reduce some economic expenses, and for the bank, you can earn more interest.
epilogue
There are pros and cons to prepaying a loan, and smart people can see the pros and cons.
I hope everyone can pay off their mortgage soon.
For some people who can afford to repay the loan early, it is still very cost-effective to repay the loan as much as you want, but if you do not have the financial means, then don't give the money away for nothing.