How to make payments
How to make payments, There is one important thing to keep in mind when paying off your mortgage early.
“If the borrower pays the amount aimed at partial early repayment of the mortgage on the date of the monthly payment,
then the entire amount will be spent on reducing the so-called body of the loan.
And if later, at least for a few days, then funds for using the loan will be deducted from this amount, ”Vekshina says.
For example,
a borrower makes a monthly payment on the 12th of each month.
He contributes an amount of 250 thousand rubles, which is completely spent on repaying the body of the loan.
If with partial early repayment, the client provides these funds, say, on the 16th,
then interest for using the loan for four days (from the 12th to the 16th) will be debited from this amount,
and the remaining funds will be used to pay the debt itself.
In this case, the borrower submits an application to the bank that he wants to repay the mortgage loan ahead of schedule.
In case of full early repayment of the mortgage, the bank calculates the amount required for this (together with interest on the repayment date).
The borrower places funds in the account, and on a certain day, the bank writes off the amount
of debt and closes the mortgage loan. This usually happens on the next monthly payment date.
When making an extraordinary payment, it is necessary to notify the bank.
As a rule, it is necessary to write an application at the bank branch
for full early repayment of the loan (Photo:fizkes\shutterstock)
Mortgage repayment at the expense of maternity capital
Early repayment of a mortgage can be done both at the expense of own funds,
and at the expense of maternity capital or subsidies for large families – both partially and completely.
In the case of early repayment at the expense of maternity capital, the amount of the monthly payment is reduced;
in this case, it is impossible to choose a reduction in the term, the press service of Sberbank explained.
At the same time, in addition to an application to the bank, the Pension
The fund must provide a package of documents established by law for transferring funds to repay the loan.
The pension fund considers the application, checks the documents,
and transfers money in the amount of the balance of maternity capital to the bank that issued the loan.
Is insurance refundable if you pay off your mortgage early?
In case of early repayment of a mortgage, borrowers have the opportunity to partially recover
the amount paid as an insurance premium. And if the buyer makes early repayment at the beginning of the year,
then most of the amount of insurance is returned to him, at the end of the year –
a smaller part says Vekshina from Inkom-Real Estate.
Also, the insurance company deducts from the refunded amount part of the funds –
about 25% of the amount of insurance – that was spent on servicing the insurance contract (paperwork, employee salaries, deductions to the bank, etc.).
Suppose the borrower pays 50 thousand rubles. for insurance, while he manages to repay the mortgage ahead of schedule
within six months after applying for a loan.
As a result, he can get back half of the amount that he spent on insurance. However, another 25% of 50 thousand rubles.
you need to pay the insurance company, after which the borrower is left with 12.5 thousand rubles.
