I. Repayment of equal principal and interest
This is the most common way at present, and it is also recommended by most banks for a long time. Add up the total principal and interest of the mortgage loan and distribute it evenly to each month of the repayment period. As the repayment person, the bank will pay a fixed amount every month, but the proportion of principal in the monthly exchange amount will increase month by month, and the proportion of interest will decrease month by month. For example, suppose you need to borrow 200,000 yuan from the bank, and the repayment period is 15 years. According to the current interest rates of most banks, you can choose a loan with equal principal and interest, and the monthly repayment is about 1707 yuan. In the first two or three years, about 80% of 1707 yuan was interest returned to the bank. Using this repayment method, the same amount is paid every month. As a lender, the operation is relatively simple.
Bear the same amount every month, which is also convenient for arranging income and expenditure. Especially for families with stable income, buying a house for self-occupation, and economic conditions do not allow excessive investment in the early stage, you can choose this method. Public service, teachers and other occupations belong to groups with relatively stable income and job opportunities, which are very suitable for this repayment method. However, it also has defects, because the interest will not decrease with the repayment of the principal amount, and the bank funds take up a long time, and the total interest of repayment is higher than the average principal repayment method to be introduced below.
Two. Average capital repays.
The so-called average capital repayment method, also known as the repayment method of interest with principal and average capital with unequal interest. The lender will allocate the principal to each month and pay off the interest from the previous trading day to the repayment date. Compared with the matching principal and interest, the total interest cost of this repayment method is lower, but the principal and interest paid in the early stage are more, and the repayment burden is reduced month by month. For example, we also borrowed 200,000 yuan from the bank, and the repayment period was 15 years. If you choose to repay the same principal, you need to repay the bank principal11yuan every month, and the interest in the first month is 9 18 yuan, totaling 2,200 yuan in the first month. Then every month, especially when the total loan amount is relatively small, the difference may reach 1000 yuan. But with the passage of time, the repayment burden is gradually reduced.
This method is very suitable for people with higher income at present, but their income will decrease in the future. In fact, many people over middle age, after a period of efforts, have a certain economic foundation. Considering that your income may decrease with retirement and other factors, you can choose this way to repay.
Third, "biweekly supply"
Biweekly personal mortgage loan, the monthly repayment amount is basically unchanged, as long as the repayment method is changed, the interest can be greatly reduced and the repayment period can be shortened. The loan is 500,000 yuan, based on the three-year loan period and the benchmark interest rate of 6. 12%, and the traditional equal monthly repayment method is selected, and the monthly repayment is 3,036 yuan. If Biweekly Repayment is selected, the repayment will be made every two weeks 1, 5 18 yuan. Due to frequent contributions, the borrower can save about 60 thousand yuan by accelerating the reduction of principal. In addition, the borrower only needs 24.7 years to pay off the loan; If the loan is calculated at the preferential interest rate of 5.5 1%, this repayment method saves 92,303 yuan in interest compared with the monthly payment, and the saving ratio is 17.64%. Why did you only change the repayment frequency and not the repayment amount, but saved nearly 65,438+10,000 yuan of interest in 30 years? Because, at present, the calculation of bank housing mortgage is based on the balance of principal, and the more principal, the higher interest. The key to "biweekly payment" is to save half the interest of "monthly payment" for half a month. In addition, due to the use of "biweekly payment", that is, 14 days is two weeks, and there are 52 weeks 1 day in a year, which is equivalent to 13 months, which is one more period than the monthly payment, that is, one more month's loan every year. In this way, the frequency and total amount of repayment are increasing, the repayment speed of principal is also accelerated, and the corresponding payment period is also shortened, so it is equivalent to 5.3 years in advance. In fact, "biweekly payment" is another way to repay the loan in advance. SDB made it clear that at present, "biweekly mortgage" can only choose the repayment method of equal principal and interest (the same monthly payment for each installment), but not the repayment method of average capital (the same principal for each installment with decreasing interest). So, which is more economical, "biweekly payment" or average capital repayment? There is a critical point in time. Taking the loan of 500,000 yuan as a column, according to the preferential interest rate adopted by most banks at present, if the loan term is 10 year, the total interest generated by the average capital repayment method is138,897.92 yuan; The total interest generated by "biweekly payment" is 136933.95 yuan, and the interest saved is 1964 yuan. If the loan term exceeds 65,438+00 years, such as 65,438+05 years, the total interest generated by the average capital repayment method is 207,772.92 yuan, while the total interest generated by "biweekly payment" is 209,890.44 yuan. In this way, the repayment method of average capital saves interest by 2 1 12 yuan compared with "biweekly payment". By analogy, the longer the loan term, the more interest will be saved by the average capital repayment method. However, it should be noted that the repayment method in average capital is higher than the repayment method of equal principal and interest in the initial repayment period, and the shorter the loan term, the greater the difference in monthly payment. Therefore, if the loan term is less than 5 years, no matter which repayment method (floating rate mortgage) is adopted, the interest difference is not big.
Suitable for people: people with stable and balanced income, such as other fixed income sources besides monthly income (quarterly bonus and year-end bonus), are reluctant to increase the pressure of monthly payment because of their relatively fixed monthly income, but when they have additional income sources, they hope to save interest through small prepayment.
Four. Fixed interest rate (China Everbright Bank and China Construction Bank)
Fixed interest rate means that when consumers sign a housing loan contract, they choose a fixed interest rate loan, that is, no matter how the bank interest rate changes or increases or decreases in the future, the borrower will pay interest at a fixed interest rate, which will not change with the market. At present, China Everbright Bank provides this service. Suitable for the crowd: all property buyers.
Expert comment: When handling a fixed-rate mortgage, we must first have a basic judgment on the future interest rate trend. Five years or even 10 years is of little significance. Customers choose fixed interest rate and floating interest rate according to their existing funds and future income changes.
Verb (abbreviation of verb) Structural fixed interest rate (China Merchants Bank)
Users can choose different interest rate standards at different time periods to keep up with Everbright. Following the introduction of fixed-rate mortgage by CCB, China Merchants Bank launched structural fixed-rate mortgage nationwide for the first time. At present, this business has been launched in Beijing. Different from ordinary fixed-rate mortgages, China Merchants Bank's structured fixed-rate products can implement different interest rate standards in stages during the fixed-rate period. For example, for a five-year fixed interest rate loan, one interest rate can be fixed for the first three years of the loan, and another interest rate can be implemented for the last three years. 10 fixed loan, one interest rate can be implemented in the first five years, and another interest rate can be implemented in the second five years. For loans with a total term of more than five years, China Merchants Bank has introduced three fixed terms: 3.5 years and 10 years. At the same time, for loans with a total term of less than 5 years, China Merchants Bank also launched corresponding fixed-interest products. Including 1.2.3.4.5 years and other years. The relevant person in charge of the retail banking department of China Merchants Bank said that due to the introduction of segmented fixed interest rates, the monthly supply is relatively small. In addition, the use of structured fixed-interest products can also relatively reduce the interest expenses of loans and bring benefits to customers.
Intransitive Verb Relay Loan (Agricultural Bank of China)
"Relay loan" refers to a housing credit product in which children (or children and their spouses) are the owners of the houses purchased, and both parents or one of them and children are the same borrowers. At present, Agricultural Bank of China provides this service. Suitable for the crowd: one is the borrower, not the child, expecting a good future income, but the current income is low. According to the current regulations, the loan amount is small, and he hopes to increase the loan amount by increasing his parents as * * * borrowers; The other is that borrowers who are parents are older. According to the current regulations, the borrower's age+loan period
Expert's comment: The common problem for the elderly to buy a house with loans is that they are too old and banks refuse to issue mortgage loans. Although the loan period for the children of the elderly is not limited, they often just work long hours and earn less, so it is difficult to get the loan amount they want. If you pass the "relay loan" of the Agricultural Bank of China, the age of the borrower as a parent and the loan period can be appropriately extended, and it is not limited by the prescribed upper limit.
Seven, one-time repayment of principal and interest (for short-term loans)
Previously, the bank stipulated that if the loan term is less than one year (including one year), the principal and interest will be repaid at maturity, and the interest will be paid off with the principal.
This repayment method is simple to operate, but it is suitable for a narrow group of people. It must be noted that this method is easy to make the lender lack the external force of repayment, resulting in credit damage. This kind of loan, the lender had better have better self-arrangement ability.
Eight. Repaying the principal and interest on schedule ("quarterly repayment" by China Merchants Bank)
(The above answers were published on 2015-11-25. Please refer to the actual purchase policy. )
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