Many people don't know how to calculate the loan interest when they borrow money to buy a house. Next, Bian Xiao will explain in detail:
When buying a house loan, the mortgage can be divided into two payment methods: equal principal and interest and average principal. The specific interest calculation formula is as follows:
1, repayment method of equal principal and interest:
Monthly loan amount = [loan principal × monthly interest rate ×( 1+ monthly interest rate )× repayment months ]=[( 1+ monthly interest rate )× repayment months]
Monthly interest payable = loan principal × monthly interest rate ×[( 1+ monthly interest rate) repayment months -( 1+ monthly interest rate) (repayment month serial number-1)] ÷ [(1+monthly interest rate) repayment months -650.
Monthly repayment principal = loan principal × monthly interest rate ×( 1+ monthly interest rate) ÷ (repayment month serial number-1)÷[( 1+ monthly interest rate) repayment months-1]
Total interest = repayment months × monthly repayment amount-loan principal
2, the average capital repayment method:
Monthly payment = (loan principal ÷ repayment months)+(loan principal-accumulated repaid principal) × monthly interest rate.
Monthly repayable principal = loan principal ÷ repayment months
Monthly interest payable = residual principal × monthly interest rate = (loan principal-accumulated principal repayment) × monthly interest rate
Monthly decreasing amount = monthly repayable principal × monthly interest rate = loan principal ÷ repayment months × monthly interest rate.
Total interest = [(total loan ÷ repayment months+total loan × monthly interest rate)+total loan ÷ repayment months ×( 1+ monthly interest rate) ]> 2× repayment months-total loan.