How many times can your mortgage go ahead? Some say it three times, but not all. In fact, the advance repayment of housing loans is not strictly limited in number. If you meet the conditions set by the bank, you have one or twice a year an opportunity to pay in advance. It is noted that two conditions must be met: the duration of the loan exceeds one year and the application is submitted to the bank between one and a half months in advance。

Do I have to pay back three times

It should also be emphasized that you have the right to apply to a bank for an advance payment only in the absence of a delay, in addition to which different banks may set a minimum amount. The bank will accept your application only if you are prepared to pay this amount in advance。

There are always exceptions, and some banks require that the loan be repaid only three times in advance. Most of these provisions are clearly stated in the loan contract that, if the matter is not mentioned in the contract, in theory you have no upper limit on the number of early repayments, which is sufficient to satisfy the conditions of the application. You can consult the bank staff for details。

You have to take an inventory of applications for early repayment of the mortgage, and you may have to pay out some default money, so, before you apply, you have to take a closer look at whether or not the advance payment is really working。

What, then, is the year of early repayment within the duration of the loan most appropriate

The best option would be the fifth year, as at this point you would pay less interest and default money. Moreover, you have two options for reimbursement: partial and full. Part of the repayment is divided into two possibilities: a reduction in the amount of the monthly repayment or a reduction in the length of the loan。

It should be recalled that early repayment of the loan may have broken down the bank's lending plan, so you have to pay default money. In addition, the length of the loan may affect your choice of the best time for early repayment. In the case of the 20-year loan period, for example, your early repayment in the fifth year will yield the greatest return。

However, the requirements for early repayment of loans may vary from bank to bank, and it is recommended that you make a detailed consultation call to the passenger service before making a decision。