2. Under the average capital method: total interest = (number of periods+1)× loan principal× monthly interest rate ÷2 For example, the principal is 3,000 yuan, the monthly interest rate is 1%, and the interest = (3+1) * 3,000 */kloc-.
3. Under the method of matching principal and interest: total interest = number of installments * repayment amount of each installment-loan principal, repayment amount of each installment = [loan principal × monthly interest rate× (1+monthly interest rate) installments ]=[( 1+ monthly interest rate) installments-1].
Can I get a bank loan if the mortgage interest rate is too high?
First of all, we must look at the current situation of mortgage. If you only pay the down payment, you have not formally signed a loan contract with the bank. According to the comparison of loan interest rates given by banks, it is found that it is relatively high, and the loan bank can be changed before the mortgage has entered the approval process. If the mortgage interest rate is too high, but it has entered the review stage, you can't change banks halfway. However, even if the mortgage has been approved and the next installment has been paid, there are still many ways to reduce the loan interest rate.
1, lend
That is, the interest rate of the first home loan for provident fund loans is only 3.25%, which is at least two or three points lower than that for pure commercial loans. However, it is not so easy to transfer business to the public. One is that the original commercial loan bank must agree to the lender's application for the transfer account, and the other is that the lender must meet the conditions of the provident fund loan and raise money to pay off the remaining commercial loans before handling the provident fund loan.
2. Change the repayment method
Mortgage repayment methods include equal principal and interest, average capital, etc. If you choose the same principal and interest before, the mortgage interest will be higher. If the lender wants to reduce the mortgage interest expense, he can consider choosing the average capital, and the interest in the average capital will still be lower than the equal principal and interest.
3. Change the loan bank
After the original commercial loan bank approves the loan, the lender may change the loan bank in the future. If the lender finds a bank with a lower mortgage interest rate than the current loan bank, he can find a guarantee company to pay off the money from the original loan bank, and then apply for a mortgage at this bank with a low interest rate.