The interest on the house loan will be repaid together with the monthly payment. The calculation method of housing loan interest varies according to different repayment methods. The calculation formula of matching principal and interest method is: monthly repayment amount = principal * monthly interest rate * [(1+monthly interest rate) n/[(1+monthly interest rate) n- 1], and monthly interest rate = annual interest rate/12. Total interest = monthly repayment amount * loan months-principal. The formula of average capital method is: monthly repayment amount = principal /n+ residual principal * monthly interest rate, and total interest = principal * monthly interest rate * (loan months /2+0.5).

Housing loan process

1. Submit mortgage application:

Usually, commercial housing real estate associations cooperate with relevant banks. At this point, the property buyers go directly to the bank recommended by the developer to understand the relevant provisions of the loan purchase, and prepare the relevant documents, and then fill out the "mortgage loan application form" and submit it to the bank for review.

2. Waiting for the results of bank review:

After writing the loan application, the bank needs to review the "mortgage loan application" first, and then the buyer will sign a house purchase contract with the developer.

3. Sign the house mortgage contract:

After signing the purchase contract, the whole process is halfway through. Next, the buyer needs to sign a mortgage loan contract with the developer and the bank with the purchase contract, down payment voucher and relevant legal documents. The contract will clearly stipulate the loan amount, loan term, repayment method and related rights and obligations.

4, Housing Authority for the record:

Hold the "Housing Mortgage Loan Contract" and the purchase contract to the relevant departments of the Housing Authority for mortgage registration. Generally speaking, it takes some time for the Housing Authority to put on record. Please ask the local housing authority specifically.

5. Open a special repayment account:

After the Housing Authority successfully files a case, the bank will designate a financial institution for the buyers according to the contract and authorize the opening of a special repayment account. The authorized agency will deduct the monthly payment from the buyer's bank account every month.