How to pay the mortgage backwards with a credit card?
1. Credit card cannot be used as repayment account of mortgage loan. In other words, if a credit card cannot be repaid through consumption, it cannot enjoy an interest-free period of up to 50 days.
2, so, the so-called mortgage repayment by credit card is actually to withdraw cash from the credit card to repay the mortgage. Once the credit card uses the withdrawal service, it is the beginning of the "trap" of the cardholder's interests: banks charge 0.5%- 1% for domestic withdrawals. In addition to the handling fee, the cardholder has to pay interest, which is calculated according to the daily interest rate of 5% and the annual interest rate of 18%. It is equivalent to borrowing a high-interest loan in addition to the mortgage.
3. Whether it is illegal to misappropriate credit cards to repay mortgages, some insiders said that this can only be said to be a loophole in the law. However, the person also said that according to the relevant provisions of the law, a malicious overdraft of more than 5,000 yuan can be sentenced to three years in prison.
What should I pay attention to when repaying my mortgage?
1. To adjust the repayment amount, you need to contact the bank yourself. Since it is the amount agreed between the purchaser and the bank, the monthly supply will not decrease with the central bank's interest rate cut. Therefore, it is necessary for the buyer to agree with the loan bank again that the monthly payment will be adjusted according to the new interest rate from the first repayment date in 2008, otherwise the bank will still calculate according to the original monthly payment, and will not be able to enjoy the actual benefits brought by the interest rate cut in a short time.
Commercial loans with equal principal and interest are suitable for buyers with stable income. In most cases, the mortgage will be equal principal and interest, because for those who have little knowledge about buying a house or even lending, all they need to know is how much they have to pay back for a fixed month. Equal principal and interest means that the money you pay back every month is fixed. Although the overall interest rate will increase, it is convenient for borrowers to arrange income and expenditure, and it also saves a lot of trouble.
2. The monthly payment of equal principal and interest 1 may increase, and the change of monthly payment 1 for commercial loans will be different due to different loan banks and repayment methods. Under the repayment method of equal principal and interest, the monthly payment of most banks will increase slightly to 1. Specifically, although the interest is decreasing, the adjusted principal has increased. This situation will change in February, that is, the monthly supply will decrease in February, and the annual monthly supply will be subject to February.
General funds, suitable for property buyers with relatively abundant funds at hand. Because the mortgaged principal in the average capital is the same from beginning to end, but the interest is less changeable, the monthly repayment amount will decrease month by month with the passage of time. For those who just need to buy a house for urgent renovation, the initial repayment pressure is too great to choose. But if you have abundant funds, it is more cost-effective to choose the average capital with less interest.
3. The average capital is not recommended to repay in advance. Under the repayment method of average capital, the borrower's interest this month decreased slightly, and the overall monthly payment was lower than last year. Specific to different banks, the monthly payment of 1 month will also decrease and increase differently. Because the repayment is made according to the average capital method, the interest is mainly returned by the purchaser in advance. At present, the central bank is in the channel of interest rate reduction, and the interest rate of bank loans has dropped, which makes the interest returned at this time relatively reduced, so buyers do not have to rush to repay in advance in June 2006.