Mortgage interest rates are based on five years. The interest rate for less than 5 years is 6.93% and for more than 5 years is 7.2%.

The benchmark interest rates for mortgage loans of various banks are the same. The central bank It also limits the power of each bank to fluctuate 10% up or down based on the base interest rate, but in most cases, banks use the same interest rate standard with tacit understanding (we can't make a conclusion whether there is something fishy about it). When you ask which bank has the lowest interest rate, it depends on its local policy in your area, but even if you know it, it's useless. When you buy a house, the developer will apply for a loan for you, and it will be done at the bank designated by him. Because when you buy a house, it is off-plan and you don’t have a real estate certificate yet, so you can’t get a mortgage loan. So the first thing the developer does is a guaranteed loan. The developer is the guarantor, and the bank lends you the money. Therefore, developers go to banks to apply for loans.

There are currently two repayment methods: equal principal and interest and equal principal. In comparison, the two methods have their own advantages in different aspects.

In terms of monthly repayment pressure, equal principal and interest payments are smaller.

In terms of total repayment interest, the interest on the same amount of principal is less.

From the perspective of early repayment, if the repayment is completed within 3 years, the two are almost the same. The later the early repayment is, the more obvious the advantage of the equal principal payment method with less interest.