1. Equal monthly repayment amount of principal and interest = [loan principal× monthly interest rate× (1+monthly interest rate )× repayment months ]=[( 1+ monthly interest rate )× repayment months];
2. Average monthly repayment amount of funds = (loan principal/repayment months)+(principal-accumulated amount of repaid principal) × monthly interest rate.
Loan procedures for buying a house
1. Apply for a loan at a loan bank: The borrower applies for a housing provident fund loan at the real estate credit department of CCB in all districts and counties with a copy of the house purchase contract and the developer's housing sales license, ID card, housing provident fund savings magnetic card and seal.
2. Bank audit: The lending bank will evaluate whether the borrower meets the loan conditions according to the information provided by the borrower.
3. Sign a loan contract with the loan bank: After the loan bank examines the borrower's application, the borrower signs a loan contract and a mortgage contract with the bank.
4. Go to the property right department to handle the loan guarantee procedures. There are two ways to guarantee housing provident fund loans.
5. Handling mortgage insurance procedures: After the borrower handles mortgage or pledge procedures in the property right department, he will go to the loan bank to handle home insurance procedures together with loan documents such as loan contract, mortgage contract, house ownership certificate and mortgage certificate.
6. Sign repayment agreement and transfer money: If repayment is made by withholding savings card, the borrower should apply for withholding savings card repayment at all savings outlets of CCB and sign a withholding agreement with the lending bank.
7. Bank transfer: The borrower collects money at the loan bank at the time agreed with the loan bank, and the loan bank transfers the money to the house selling unit.