To buy a house worth 1 million, you need to prepare at least 300,000 yuan. In different regions and in different situations, the required down payment is also different. The monthly payment is about 5,000 yuan. Let’s take the down payment required by most home buyers to purchase a house with a loan as an example.

Usually, the down payment ratio for buying a first home is 30% of the total house price, and the price will be higher in cities with purchase restrictions. So if you buy a new house, you need to prepare a down payment of at least 300,000.

If you are buying a second-hand house, the down payment is calculated in the same way. Calculating the down payment for a second-hand house also involves an appraised value, and the appraised value of a second-hand house is generally 80% of the transaction price. , that is, 800,000. The bank's loan regulations state that the loan amount for a second-hand house = the appraised price of the second-hand house * 70%, or 560,000. Then the down payment required to buy a second-hand house = the total house price of 1 million - the loan amount, which is 440,000.

Extended information:

The annual interest rate for loans between 5 and 30 years (including 30 years) announced by the People's Bank of China is 4.9%. Calculated based on the benchmark interest rate, if the interest rate remains unchanged, The monthly repayment amount is 2653.63 yuan using the equal principal and interest repayment method. The first month repayment amount is 3430.56 yuan (for reference only) using the equal principal method. The monthly repayment amount decreases month by month.

If the loan is repaid using the equal principal and interest method, and the down payment for a 1 million house is 300,000, then the loan amount is 700,000. If the annual interest rate of the loan is 4.900 and the loan term is 30 years, then it should be repaid every month The principal amount is 3715.09 yuan, the total repayment amount that needs to be repaid every month with principal and interest is 1337432.4 yuan, and the total repayment interest is 637432.4 yuan.

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