How to convert high-interest mortgages into low-interest loans. What are the strategies? Let's talk about it together。

How does a high-interest mortgage turn into a low-interest loan

FIRST, A SIMPLE AND EFFECTIVE WAY TO CONVERT OUR MORTGAGES INTO LPR FLOATING RATES. THIS METHOD ALLOWS THE MORTGAGE RATE TO BE LOWERED WITH THE REFERENCE LPR. ESPECIALLY RECENTLY, THE LRP RATE HAS BEEN DECLINING, SO IT IS CERTAINLY A GOOD OPTION FOR US TO LOWER IT。

We could then consider converting commercial mortgages into housing equity loans. In general, the interest rate on Provident Fund loans is always lower than that on commercial loans. But this conversion can only be selected after one year of our loan。

Finally, we could also choose to return some of the loans in advance and to shorten the term of the mortgage. This approach can reduce the principal of the loan and thus interest on the loan. If we have also chosen to reduce the duration of the loan, the reduction in interest rates is even more evident. This is an effective interest rate reduction strategy that most people now use。

Similarly, there are several factors influencing the rate of lending on housing. For example, the choice of lending institutions: banks tend to lend at a slower pace, while lending companies are more efficient. Next, the timing of the application for a mortgage is also important, and if it is applied at a time of financial strain on the bank, the rate of lending will be relatively delayed; vice versa will be faster. Finally, the incompleteness of the information we have submitted on our applications will also affect the pace of approval of housing loans。

This is some of our strategies and influencing factors on how to convert high-interest mortgages into low-interest loans. I hope this will help you, thanks for reading。