There is still a lot of knowledge involved in mortgage, for example, how many years is it cost-effective to borrow a mortgage? How to calculate the monthly mortgage payment? Although we can calculate the monthly repayment amount according to the bank's interest, total loan amount and repayment period. But we can also calculate by simple methods. The following is the specific operation method.

Introduction to mortgage

Mortgage, also known as house mortgage. Mortgage means that the buyer fills in the mortgage loan application form to the bank and provides legal documents such as ID card, income certificate, house sales contract and guarantee letter. The bank promises to grant loans to the buyer after passing the examination, and handle the notarization of real estate mortgage registration according to the house sales contract provided by the buyer and the mortgage loan contract concluded between the bank and the buyer. The bank directly transfers the loan funds to the seller's account within the time limit stipulated in the contract. On the afternoon of February 2nd, 20 16, the People's Bank of China and China Banking Regulatory Commission jointly issued About.

Steps to calculate the monthly repayment amount of mortgage loan

Open the Baidu search box and enter.

loan calculator

And search. At this time, several calculators for calculating the mortgage will be displayed.

Select an application at random and click Enter. In its interface, there are three loan methods, namely

commercial loan

, provident fund loan

and

Consortium lending

Here, take it.

commercial loan

For example: input

Commercial loan amount

, repayment period

, interest rate

and

Repayment method

click

calculate

Button.

Then you can see the calculation result information.

Of course, we can also calculate other loan methods, such as

Provident fund loan

Please refer to the above tutorial for specific usage.

Pay attention to the calculation of monthly mortgage payment

To calculate the monthly repayment amount of mortgage, we need to know several key elements: loan amount, loan term, loan interest rate and repayment method. The most common mortgage repayment methods are: average capital and equal principal and interest. The monthly payment of equal principal and interest repayment is the easiest to remember. Under the condition that the loan interest rate remains unchanged, the monthly repayment amount is fixed. In average capital's repayment law, the monthly repayment amount is decreasing month by month. It is best for borrowers to print a repayment schedule in the bank so as to clearly know the specific repayment amount in different months, or to deposit more money in the deduction account to ensure full repayment every month.