Should I pay the interest or the principal first for the mortgage?
Mortgage is to repay the principal and interest, and there is no need to repay the principal or interest first. General repayment is two options, equal principal repayment and equal principal and interest repayment. In the average capital, the interest generated in the current period and the principal of the first period are used as monthly payments. Interest will be paid for more than a month at first, and then it will gradually decrease. Matching the principal and interest is to calculate all the interest and then spread the principal and interest equally every month. It's all debt service.
What problems should I pay attention to when handling a mortgage?
1, loan interest rate floating range
The fluctuation range of loan interest rate is related to how much interest the borrower has to pay during the loan period, so we should pay more attention to it. If the fluctuation of loan interest rate is relatively small, the pressure on buyers will be relatively small, and if the fluctuation is relatively large, the pressure will also increase. Borrowers can analyze the floating range of loan interest rates of various banks for reference before applying.
2. Adjustment frequency of loan interest rate
At present, most banks agree that if the benchmark interest rate of the People's Bank of China is adjusted, banks will adjust the loan interest rate accordingly on June 65438+ 10/the following year. In addition, a few banks allow customers to float according to the loan date, that is, when the benchmark interest rate of the People's Bank of China is adjusted, the loan interest rate will be adjusted every 1 year. Generally speaking, the longer the period of interest rate adjustment, the better for borrowers.
3. The cost of handling the loan.
When handling commercial loans, there are generally fees such as notarization fees for loan contracts, insurance premiums, mortgage registration fees, loan contract fees, evaluation fees, etc., and the total amount may reach several thousand yuan, which borrowers cannot ignore. At present, some banks are partially or completely exempted from the above fees, which is also the reason why borrowers choose after comparison.
4. Loan cost
At present, the loan interest rates of various banks are similar. In the same loan period, the loan cost is mainly reflected in the bank's regulations on early repayment and adjustment of repayment plan. Therefore, it is suggested that the borrower choose a bank that repays the loan in advance without penalty, has a low repayment starting point and can adjust the repayment plan.
5. Loan service
In terms of loan services, borrowers should choose banks with simple procedures and simple operations. When accepting loans, we can provide borrowers with thoughtful loan consulting and handling services, online banking and SMS prompt services, especially banks that can provide borrowers with comprehensive personal financial services and value-added services at the same time.
6. Loan products
If you want to apply for a mortgage loan to buy a house, especially for the first time, the borrower can enjoy certain interest rate concessions according to personal income and other circumstances. As for the specific application procedures, all banks have relevant requirements. In addition, different banks have different mortgage products, and even the same bank will launch different products at different times. If the new product is more cost-effective, it can be converted between different products through refinancing.