Chinese people like to buy houses are famous all over the world. As long as everyone has money, they think about buying a house and buying a property. However, due to the high housing prices, more than 90% of families choose to buy a house with a loan. However, after buying a house, people find that the pressure of mortgage loans of more than 4-5,000 yuan per month is indeed quite high. Especially for the previous mortgage interest rate of more than 5.88%, if the loan is over 30 years, after paying off the mortgage, the buyer's interest expense can go and buy another house.
. Since the second half of last year, the central bank of my country has continuously lowered the reserve requirement ratio and interest rates, and the bank deposit and loan interest rates have both dropped. At the same time, the mortgage interest rates have also dropped a lot, from the previous 5.88% to the current 4.25%. In this way, those families who want to buy a house now can indeed save a lot of money. However, for previous home buyers, they still have to implement the original mortgage interest rate and cannot enjoy the preferential policies on the current interest rate, and the monthly mortgage pressure has not been reduced at all.
So, many people who had bought houses before suggested that in the past, the mortgage interest rate was so high, is there still a way to reduce the mortgage interest rate now? In this regard, we believe that it is understandable that home buyers want to lower mortgage interest rates and reduce the pressure to repay loans, but they have signed a mortgage contract before, and the contract cannot be changed. However, there are still three ways to do this.
First, it depends on whether the mortgage interest rate is a fixed interest rate or a floating interest rate? If the mortgage contract you signed with the bank states that it is a fixed interest rate, the original 5.88% mortgage interest rate will continue to be implemented. And if the mortgage contract you signed with the bank says the floating interest rate. Although mortgage interest rates cannot drop within this year, starting next year, you can enjoy new interest rates, and the subsequent repayment pressure will be much less.
Second, repay the mortgage in advance. Nowadays, many people feel that the interest rate of bank mortgage loans has dropped so much, so they will definitely suffer a loss according to the previous mortgage loan interest rate, so they choose to pay off the mortgage loan in advance. Before, the bank was not very concerned about repaying the loan in advance. If the customer repays the mortgage in advance, he does not have to pay a penalty.
Now facing the wave of early repayment of loans, many banks have begun to require customers to pay contract liquidated damages. If your financial conditions allow, you can choose to repay the mortgage in advance without having to work for the bank anymore.
Third, sell the current house and then buy a new house, so that you can enjoy the new mortgage interest rate. However, there will be risks from two aspects: one is that in the long run, the current mortgage interest rate is at a historical low, which means that the mortgage interest rate in history is higher than that in most of the time. If you sell the house and the mortgage interest rate starts to rise again, it will be more than worth the loss.
Another is that if you buy a new house after selling your original house, you will not be able to enjoy the first mortgage interest rate and can only enjoy a relatively low mortgage interest rate. Moreover, the sale and purchase process of this house is relatively long and there are great risks. So, unless your mortgage interest rate reached more than 6% before, it is not cost-effective for home buyers.
Since this year, bank mortgage interest rates have been falling again and again, mainly to encourage everyone to buy a house. Those who have already bought a house are still under greater mortgage pressure. So, is there a way to reduce mortgage interest rates? First, you need to check your mortgage contract. If the mortgage contract says a floating exchange rate, you will be able to enjoy the new mortgage interest rate at the beginning of next year.
In addition, if economic conditions allow, you can pay off the mortgage, and there will be no pressure to repay the loan. Of course, you can also sell the original house and buy a new house to enjoy the new mortgage interest rate. However, this method has many uncertain factors and is relatively risky, so everyone should choose carefully.
