Repayment of Loans in Advance (3)
Also don't forget to go to the tax department for tax refund. When you purchase commercial housing, you should be tax refundable family members all as real estate rights holders written into the purchase contract, and after signing a contract, pay the housing, the "buyer has paid personal income tax base deduction" application, to obtain my "tax general contribution." After repaying all the loans in advance, you can obtain a real estate certificate, and within 6 months after the real estate rights certificate has been completed, you should go to the tax department to go through the tax refund procedures.
Don't make early repayments for the first year
It is important to note that no advance payments are made during the first year of borrowing. In accordance with the relevant provisions of the Provident Fund loan, part of the early repayment should be made one year after the repayment of the loan, and the amount of repayment should exceed the amount of 6 months. Another point is that the loan contract provides that early repayment should not be overdue situation, if there is overdue, should first pay off the arrears before applying for early repayment.
Reminder 1: Early repayment of the loan to choose the same amount of principal repayment method
Industrial and Commercial Bank of China financial experts believe that: the public in the choice of loan term must fully consider their own operation of funds and follow-up sources of funds. For example, Mr. Xu's loan was a loan with a maximum life of 30 years and a total of $680,000. Its first year of monthly equivalent repayment amount of 3906.62 yuan, of which, 3160.99 yuan for interest, 745.63 yuan for the principal, a total of 745.63 x December x 8947.56 yuan, repayment interest of 3160.99 x 12 x 37931.88 yuan. It can be seen that under the equivalent principal and interest method, most funds are repaid with interest, while the principal is only 19.1%. If you choose to repay the loan in advance, there will be a substantial loss of interest. If you have the expectation of early repayment of loans, it is best to choose the same amount of principal repayment method, the loan term should not be too long.
Reminder 2: Optional remortgage in the shadow of default
According to the Chinese people's consumption concept, the ability to repay loans as soon as possible is the performance of good personal reputation, but the banks are reluctant. Personal housing loan risk is relatively small, the return is relatively safe, such a "gold business" is rare for the bank, but the early repayment of customers disrupted the use of bank funds plan, but also lost the loan brought about by the stable interest income. There are practical ways to avoid paying a default payment. Banks are providing re-press, exchange and other methods, often in the eyes of new houses or larger houses, will take early repayment methods to reduce debt pressure. In fact, a personal home-to-credit loan can help the public avoid the curse of early repayment of default.
Reminder 3: Don't blindly follow the lead early repayment
Although early repayment is a very common phenomenon, but in the face of interest rate increase expectations and choose repayment really need to "think twice" after the line.
1, housing loans belong to long-term loans, its interest rate is a year,, that is, even if the recent interest rate adjustment, the new interest rate of personal mortgage will be implemented from January 1 next year, early repayment means that must give up part of the liquidity, while bearing greater capital pressure. You know, dealing with the bank is "easy to repay money is difficult to borrow money", so early repayment should be done.
