Housing loan, also known as housing mortgage loan, is an application form for housing mortgage loan, ID card, income certificate, housing sales contract, guarantee and other legal documents filled out by the buyer to the loan bank. , must be submitted. After passing the examination, the loan bank promises the loan to the buyer, and handles the real estate mortgage registration and notarization 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 sales unit within the time limit stipulated in the contract.
Repayment method
brief introduction
There are two repayment methods for housing loans with a loan term of more than one year: average capital repayment method and matching principal and interest repayment method.
Average capital
It is to divide the total loan into equal parts during the repayment period, and repay the equal principal and interest generated by the remaining loans in the current month every month.
Monthly repayment amount = (loan principal/repayment months)+(principal-accumulated amount of repaid principal) × monthly interest rate.
Features: Because the monthly repayment amount is fixed and the interest is getting less and less, the lender is under great pressure to repay at first, but with the passage of time, the monthly repayment amount is getting less and less.
Average capital plus interest
During the repayment period, the same amount of loans (including principal and interest) will be repaid every month.
Monthly repayment amount = [loan principal × monthly interest rate ×( 1+ monthly interest rate )× repayment months ]≤[( 1+ monthly interest rate )× repayment months]
Features: Compared with the repayment method in average capital, the disadvantage is that there are more interests. The interest in the initial repayment period accounts for most of the monthly contributions. With the gradual return of the principal, the proportion of the principal in the contributions increases. However, the monthly repayment amount of this method is fixed, which can control the expenditure of family income in a planned way and facilitate each family to determine the repayment ability according to their own income.
Whether it is equal principal and interest repayment method or average capital repayment method, the nature of interest will not change. Generally speaking, matching the principal and interest will pay a little more interest than the average capital. . But the premise is that the loan period is sufficient. It seems that the bank has recovered the interest, but in fact, with the reduction of the principal, the average capital repayment method can speed up the repayment, withdraw the funds as soon as possible, reduce the operating cost and help reduce the risk coefficient. In the actual operation process, the matching of principal and interest is more conducive to the borrower to master and facilitate repayment. In fact, after comparison, most borrowers still choose the method of matching principal and interest, because this method has a fixed monthly repayment amount, is easy to remember, and the repayment pressure is balanced, which is actually not much different from the average capital. Because these borrowers also see that the use value of funds varies with time, simply put, the repayment method of equal principal and interest is to pay more interest because of long-term occupation of the bank's principal; The repayment method of equal principal takes up the bank principal for a short time, and the interest will naturally decrease. There is no problem that banks lose money and earn more interest.