If you want to pay your mortgage once, you need to know the procedures. First, a lump-sum repayment of interest is an option that is suitable for an applicant with sufficient repayment capacity for only one year. It should be remembered, however, that this mode of repayment is limited in scope。

Do you need a one-time credit card

Second, if you apply for a mortgage for more than one year and you have enough cash on hand, you can consider paying the mortgage in advance. However, there may be a number of catchers, for example, banks may charge default money when the mortgage is paid less than a year in advance. It is therefore important to confirm whether the bank will charge additional costs before deciding whether to repay the loan in full and in advance。

Finally, if you have sufficient repayment capacity, you can repay the mortgage once in a while. However, when applying for a mortgage, you must be aware of your ability to repay and choose the appropriate length of your loan, so as to avoid lengthy and cumbersome repayment procedures。

YOU'RE PROBABLY THINKING, "CAN I REPAY MY MORTGAGE WITH A CREDIT CARD?" THE ANSWER IS “NO”. CREDIT CARDS CANNOT BE USED TO DEDUCT INTEREST ON MORTGAGES. WHEN YOU APPLY FOR A MORTGAGE, YOU NEED TO OPEN A SAVINGS ACCOUNT AT THE LOAN BANK TO REPAY THE DEDUCTION. HOWEVER, YOU CAN USE A CREDIT CARD TO ADVANCE CASH AND THEN DEPOSIT IT IN A REPAYMENT ACCOUNT, PENDING AUTOMATIC BANK DEDUCTION. THE KEY POINT, HOWEVER, IS THAT THE CREDIT CARD WILL CHARGE INTEREST AND HANDLING FEES AT A CERTAIN RATE, WITHOUT ANY INTEREST-FREE PERIOD, AT A DAILY INTEREST RATE OF 0.05% OF THE AMOUNT BORROWED, WHICH WILL BE CALCULATED AT MONTHLY COMPOUND INTEREST STARTING FROM THE DATE OF WITHDRAWAL。