Credit cards cannot be used to repay the mortgage, which means that the credit card cannot be used as the repayment account for the mortgage, because the credit card cannot be used to repay the mortgage through consumption, and the maximum credit limit of 50 years cannot be enjoyed by the credit card. days interest-free period. If you have to use it, you can only withdraw it in cash and deposit it on the Bank of Communications debit card. But in this case, cash withdrawal fees, interest, etc. will be incurred, and these fees are also very high.

What should you pay attention to when repaying a mortgage

1. Pay attention to the repayment method

There are two main repayment methods at present, but many people are applying for loan procedures. I didn’t pay attention to it all the time, and I didn’t even know which repayment method I had when I was repaying my mortgage. Equal principal and interest repayments mean that the borrower repays equal amounts every month. That is, the total principal and interest of the loan are added together and then evenly distributed to each month of the repayment period. The repayment method of equal amounts of principal is also a more common repayment method currently used by banks. This loan repayment method is suitable for people who currently have a high income, but have expected that their income will decrease in the future.

2. Pay attention to changes in monthly repayments

Usually the monthly repayment amount will change as the principal decreases. Home buyers should pay attention to the monthly repayment amount. Some friends think that to repay a mortgage, they only need to deposit money into the repayment account on time every month. Home buyers also need to pay attention to whether there are changes in the bank's base interest rate. Once the bank's base interest rate changes, the monthly payment will also be Changes followed. Therefore, sometimes the monthly payment may increase in a certain month. If you are not prepared in advance and fail to pay, it will be judged as overdue repayment.

3. Be careful with early repayment

I believe most people have thought about repaying early, but not everyone is suitable for early repayment. The current mortgage interest rate has always been It remains high and even shows an upward trend. Therefore, many house slaves want to repay their loans in advance to avoid the risk of overpaying interest. However, you must know that if you apply for early repayment of the loan less than one year ago, you will have to pay liquidated damages. In this case, early repayment of the loan is obviously not cost-effective.

4. Be careful about cutting off the loan

You must know that now is an era that attaches great importance to personal credit. If the mortgage payment is cut off, it will have a great impact on your credit report. big. No matter what kind of problems arise, you cannot choose to cut off the payment without money, because the bank will have very serious penalty rules, and the bank's penalty interest cannot be underestimated. Once the payment is not repaid for more than six months, the bank will If you conduct an auction, not only will there be a black mark on your credit, but the house that was about to be yours will also be gone.

What are the ways to repay a house loan

There are three main repayment methods for buying a house with a loan: equal principal and interest, equal principal, and one-time principal and interest payment.

1. Repay principal and interest in equal monthly installments. With this repayment method, the monthly repayment amount is the same during the term of the loan. This will help you remember the repayment amount and plan your income and expenses well.

2. Repay the principal in equal monthly installments. This type of repayment means the principal is spread evenly throughout the entire repayment period, and interest is calculated daily based on the principal balance of the loan. In this repayment method, the monthly repayment amount is different and decreases monthly. This comparison is used for borrowers who have strong repayment ability in the early stage of the loan and hope to return a larger amount in the early stage of repayment to reduce interest expenses.

3. One-time repayment of principal and interest. The loan period that can be applied for with this repayment method is limited, and generally only loans within one year can be applied for. There is no repayment pressure in the early stage, but when the repayment deadline comes, the pressure will be greater. Unless you are absolutely certain that the loan can be repaid within the repayment period, it is not recommended to choose this repayment method.