Most people's understanding of mortgage only stays on "how much money I borrowed and how many years will it take to pay it back", but they are not clear about other accounts.
For the mortgage account, I'll simply give you a plate today, so as not to scare you then.
Not much comparison, for example.
Property buyer Zhao Dabao borrowed 6,543,800 yuan from the bank to buy a new house, with an interest rate of 4.3% and a loan term of 30 years.
There are two types of mortgage loans to choose from.
Matching principal and interest: the monthly repayment amount is fixed, in which the interest paid in the early stage is more than the principal;
Average capital: the monthly repayment amount decreases gradually, with more principal in the early stage and less interest.
Seeing this explanation, everyone should feel more abstract. Then let's pay the bill directly. The matching method of principal and interest is as follows.
The monthly repayment is 49,487 1 yuan, and the repayment is1,78 1, 500 yuan, with interest for 30 years.
Someone asked why you have to pay so much interest. In fact, the reason is very simple, that is, the small amount of early repayment means higher leverage.
The repayment date 15 is the dividing line between interest and principal. When the repayment period enters 16, the principal is truly paid off.
Not surprisingly, the lender in the famous postgraduate entrance examination mentioned above should choose the equal principal and interest.
It's only been six years, but it's all interest
So many friends often ask themselves whether the average capital should be repaid in advance. From the perspective of repayment of principal and interest, as long as you repay less than 15 years, it is understandable to repay in advance.
But at the moment of prepayment, we should also understand that the interest paid before can be given for nothing.
Next, let's look at the bill of average capital.
The repayment in the first month is 6361.1/yuan, and the repayment in the last month is 2787 yuan, with 30-year interest 1.6468 million yuan.
Seeing this, I believe many friends think that the average capital is more cost-effective, because it is about 1.4 million yuan less than the equal principal and interest.
140,000 is not a small number. Last year, we all got on the bus at Kweichow Moutai (6**5 19).
However, we can't just watch the thief eat meat and not watch the thief get beaten. From the above figure, we can clearly see that the average capital (63 1 yuan pk principal and interest 4948+0 yuan) is under great pressure in early repayment.
So as we said earlier, the principal and interest are actually more leveraged than the principal.
In the early stage, the principal was repaid, and the leverage gradually decreased, so it seems easy to understand that the total repayment amount is lower than the principal and interest.
The same question, if the average capital is used, should it be repaid in advance?
The above picture gives the answer, please rest assured, there is no such thing as losing interest.
Seeing this, I believe everyone should understand the mortgage.
But whether to change it in advance depends on everyone's own ability to use funds, not the interest of the loan itself.
For example, some people can get an average annualized income of more than 10% when they do business with funds, and some people can get an annualized income of more than 20% when they go to the stock market with funds, so why care about the mortgage interest expense of about 4.3%?
Mortgage is the cheapest lever that ordinary people can leverage, which is actually right. After all, there are not many loans with interest rates below 4.3% at this stage. Commercial loan is a kind, but only a special product of a special period.
It is no exaggeration to open your own WeChat Alipay, and the real interest rate is three times that of the mortgage.
Since it comes to interest rates, it is the mortgage interest rate that naturally cannot escape.
On June 20, 2023, the 65438 central bank announced the latest five-year lpr, and 4.3% remained unchanged.
This is in line with the author's judgment. Under the dynamic adjustment mechanism of interest rate, LPR as the benchmark interest rate has lost its significance at this stage.
Because of the city's policy, interest rates are no longer a game of chess, and it is good for any city to be unable to suppress itself.
It is accurate and does not interfere with the policy order of other cities. This is the basic setting of the current interest rate.
Up to now, among the national 103 key cities, 23 cities are enjoying accurate drip irrigation with interest rate reduction, which is cool.
Therefore, advise those friends who are still expecting to cut interest rates to accept the reality.