How to calculate the mortgage interest rate
The calculation formula of mortgage interest is: interest = principal × interest rate × deposit period (that is, time).
According to the general mortgage repayment method, there are two calculation formulas:
1. Calculation formula of equal principal and interest: calculation principle: the bank collects the interest of the remaining principal first and then the principal from the monthly contributions; The proportion of interest in monthly contributions decreases with the decrease of residual principal, and the proportion of principal in monthly contributions increases with the increase, but the total monthly contributions remain unchanged.
ii. average capital calculation formula:
monthly repayment amount = monthly principal and interest
monthly principal = principal/repayment months
monthly principal and interest = (principal-accumulated repayment amount) x monthly interest rate
calculation principle: the principal amount returned every month is always the same, and the interest will decrease with the decrease of the remaining principal.
There are mainly the following types of loans to buy a house:
1. Housing provident fund loans: For residents who have already paid housing provident fund, low-interest loans from housing provident fund should be the first choice when buying a house with loans. Housing provident fund loans have the nature of policy subsidies, and the loan interest rate is very low, which is not only lower than the loan interest rate of commercial banks in the same period (only half of the mortgage interest rate of commercial banks).
2. Commercial loans for individual housing: The above two loan methods are limited to employees who have paid the housing provident fund, and there are many restrictions. Therefore, people who have not paid the housing provident fund have no chance to apply for loans, but they can apply for personal housing guarantee loans from commercial banks, that is, bank mortgage loans.
1. The interest rate conversion formula for RMB business is (note: common for deposits and loans):
1. Daily interest rate (/)= annual interest rate (%)÷36= monthly interest rate (‰)÷3
2. Monthly interest rate (‰) = annual interest rate (%).
1. The product interest method accumulates the account balance daily according to the actual number of days, and calculates the interest by multiplying the accumulated product by the daily interest rate. The interest calculation formula is:
interest = cumulative interest product × daily interest rate, where cumulative interest product = total daily balance.
2. Transaction-by-transaction interest calculation method calculates interest one by one according to the predetermined interest calculation formula: interest = principal × interest rate × loan term. There are three details:
If the interest calculation period is a whole year (month), the interest calculation formula is:
① Interest = principal × years (months) × years (months) interest rate
The interest calculation period has a whole year (months). The interest calculation formula is:
② Interest = principal × years (months) × years (months) interest rate principal × odd days × daily interest rate
At the same time, the bank can choose to convert the interest calculation period into actual days to calculate interest, that is, every year is 365 days (366 days in leap year), and every month is the actual days in the Gregorian calendar of that month. The interest calculation formula is:
③ Interest.
specifically, the central bank gives financial institutions the right to choose independently. Therefore, the parties and financial institutions can agree on this in the contract.
how to calculate the interest on the house loan?
There are two ways to calculate the interest of house loan:
1. The formula for calculating the equal principal and interest is: [loan principal × monthly interest rate× (January interest rate) repayment months] ÷ [(January interest rate) repayment months-1].
ii. average capital calculation formula: monthly repayment amount = (loan principal ÷ repayment months) (principal-accumulated amount of repaid principal) × monthly interest rate, where the symbol indicates the power.
For example, if the principal is 1, yuan, the bank loan is for 1 years, and the benchmark interest rate is 6.65%, compare the differences between the two loan methods:
1. Equal principal and interest repayment method: monthly interest rate = annual interest rate ÷ 12 = .665 ÷ 12 = .5541667; Monthly repayment principal and interest = [1× .5541667× (1.5541667) 12] ÷ [(1.41667) 12-1] = 114.3127 yuan; The total repayment is 13,717.52 yuan; The total interest is 37.1752 million yuan.
2. average capital repayment method: monthly repayment amount = (loan principal ÷ repayment months) (principal-accumulated amount of repaid principal) × monthly interest rate = (1 ÷ 12) (1-accumulated amount of repaid principal )× .5541667; The repayment in the first month is 138.75 yuan, and the monthly decrease is .462 yuan; The total repayment is 13,352.71 yuan; The interest is 3352.71 yuan.
I. Calculation method of interest on loan to buy a house
In the case of bank loan to buy a house, the calculation of loan interest mainly depends on the down payment amount, repayment method (equal principal and interest repayment or equal principal repayment), loan period and bank interest rate.
As the national policy on the real estate market is changing, both the bank interest rate and the down payment amount may change. Then, when calculating the interest of buying a house with a bank loan, it should be calculated according to the new data.
1. Matching principal and interest repayment method: monthly payment = [loan principal × monthly interest rate × (January interest rate) repayment months] ÷ [(January interest rate) repayment months-1], and monthly interest payable = loan principal × monthly interest rate × [(January interest rate) repayment months-(January interest rate).
2. average capital repayment method: monthly repayment amount = (loan principal ÷ repayment months) (loan principal-accumulated amount of repaid principal) × monthly interest rate = loan principal ÷ repayment months, monthly interest payable = remaining principal × monthly interest rate = (loan principal-accumulated amount of repaid principal )× monthly interest rate =
Note: Pay attention to the method of handling loans, and go to the local financial institutions with personal data and relevant certificates to ensure the smooth handling of loans.
Calculation formula of mortgage interest rate
Loan interest is a kind of principal interest that buyers borrow from the bank and pay at the interest rate stipulated by the bank. The calculation formula of interest is:
interest = principal × interest rate× deposit term (that is, time).
the calculation of mortgage interest will be different due to different loan methods and mortgage repayment methods.
according to the different repayment methods of mortgage, the calculation of mortgage interest can be divided into two calculation methods: equal principal and interest and average capital. How to calculate the mortgage interest must first understand the basic knowledge of interest:
The interest rate conversion formula for RMB business is (note: general deposit and loan):
1. Daily interest rate (/)= annual interest rate (%)÷36= monthly interest rate (‰)÷3.
2. Monthly interest rate (‰) = annual interest rate (%)÷12.
Extended information:
According to general mortgage repayment methods, there are two kinds of calculation formulas:
1. Calculation formula of equal principal and interest:
Calculation principle: the bank collects the remaining principal interest first and then the principal; The proportion of interest in monthly contributions will decrease with the decrease of residual principal, and the proportion of principal in monthly contributions will increase with the increase, but the total monthly contributions will remain unchanged.
It should be noted that:
1. The maximum amount of provident fund loans in various cities should be considered in light of local conditions;
2. For residents who have purchased a house with a loan but the per capita area is lower than the local average, and then apply for the second ordinary self-occupied house, the preferential policy of purchasing ordinary self-occupied house with the first loan shall be implemented mutatis mutandis.
ii. average capital calculation formula:
monthly repayment amount = monthly principal and interest
monthly principal = principal/repayment months
monthly principal and interest = (principal-accumulated repayment amount) x monthly interest rate
calculation principle: the principal amount returned every month is always the same, and the interest will decrease with the decrease of the remaining principal.