There are two kinds of housing loans, commercial loans and personal provident fund loans. The interest rates are as follows:
1, the benchmark annual interest rate of commercial loans: 0-6 months (inclusive), and the annual interest rate: 4.35%; 6 months-1 year (inclusive), with an annual interest rate of 4.35%; 1-3 years (including 3 years), with annual interest rate of 4.75%; 3-5 years (including 5 years), with an annual interest rate of 4.75%; 5-30 years (including 30 years), with an annual interest rate of 4.90%;
2. Benchmark interest rate of personal provident fund loans: the benchmark interest rate of short-term loans for less than five years (including five years) is 2.75%; The benchmark interest rate for long-term loans over five years is 3.25%. However, the loan interest rate should be comprehensively evaluated according to the business variety, credit status and guarantee method applied by the lender.
The process of buying a house with a loan
1, to understand the credit situation.
First of all, if you want to borrow money to buy a house, buyers must first check whether the personal credit information meets the loan conditions, and the inspection-free house is also optimistic. When they are ready to buy, they find that their credit information is unqualified and they are in a passive position.
Step 2 know the bank
Before applying for a loan, buyers can go to the bank for consultation, asking about the loan application conditions, interest rate, approval time and lending time, and then comparing them and choosing a bank with high cost performance.
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How much is the interest on the commercial loan of the house?
At present, the annual interest rate of bank loans is as follows: within half a year (including half a year), 4.85% for loans from half a year to one year (including 1 year), 4.85% for loans from one year to three years (including three years), 5.25% for loans from three years to five years (including five years), 5.25% for loans over five years and 5.40% for years. Matching principal and interest repayment method The monthly repayment amount and total interest of 20-year and 30-year mortgages are as follows: 20-year matching principal and interest repayment method: the total loan amount is 100000.00 yuan, the monthly repayment amount for 240 months is 682.25 yuan, and the total interest amount is 63740.38 yuan. Total principal and interest 163740.38 yuan, and the repayment method of equal principal and interest is 3. 0 year: total loan 100000.00 yuan, repayment months of 360 months, monthly repayment of 56 1.53 yuan, total interest paid 102 15 1.09 yuan, and total principal and interest of 202/kloc.
How to calculate the interest on housing loan?
Loan interest is a kind of principal interest that buyers borrow from banks and pay at the interest rate stipulated by banks. The calculation formula of interest is:
Interest = principal × interest rate× deposit period (i.e. time).
The calculation of mortgage interest will be different because of the different loan methods and mortgage repayment methods.
According to the different repayment methods of mortgage, the calculation of mortgage interest can be divided into two calculation methods: equal principal and interest and average principal.
How to calculate the mortgage interest? First of all, we should understand the basic knowledge of interest.
I. The interest rate conversion formula for RMB business is (note: common for deposits and loans):
Daily interest rate (0/000)= annual interest rate (%)÷360= monthly interest rate (‰)÷30.
2. Monthly interest rate (‰) = annual interest rate (%)÷ 12
Two, banks can use product interest method and transaction interest method to calculate interest.
1. Accumulate the account balance daily according to the actual number of days, and multiply the accumulated product by the daily interest rate to calculate the interest. The interest-bearing formula is:
Interest = cumulative interest-bearing product × daily interest rate, where cumulative interest-bearing product = total daily balance.
2. Transaction-by-transaction interest calculation method calculates interest one by one according to the preset interest calculation formula: interest = principal × interest rate × loan term, with three details:
If the interest-bearing period is a whole year (month), the interest-bearing formula is:
① Interest = principal × year (month )× year (month) interest rate
If the interest-bearing period is a whole year (month) and days, the interest-bearing formula is:
② Interest = principal × year (month) × year (month) interest rate principal × odd days × daily interest rate.
At the same time, banks can choose to convert all interest-bearing periods into actual days to calculate interest, that is, 365 days per year (366 days in leap years), and each month is the actual number of days in the Gregorian calendar of the current month. The interest-bearing formula is as follows:
③ Interest = principal × actual days × daily interest rate
These three formulas are essentially the same, but because the interest rate conversion is only 360 days a year, when calculating the actual daily interest rate, it will be calculated as 365 days a year, and the result will be slightly biased.
Which formula is used specifically, the central bank gives financial institutions the right to choose independently. Therefore, the parties and financial institutions can agree on this in the contract.
Extended data:
Calculation method
Tool description
1, operation steps:
Step 1: First, choose whether your repayment method is average capital or equal principal and interest, and fill in the commercial loan term, loan amount and actual loan interest rate;
Step 2: Select whether to display repayment details, and click "Calculate" to get detailed information such as monthly repayment amount, total loan interest, total repayment amount, etc.
point out
1. Commercial loans are loans used to supplement the working capital of industrial and commercial enterprises. Generally, they are short-term loans, usually 9 months, and no more than one year at most, but there are also a few medium-and long-term loans. This kind of loan is the main part of commercial bank loans, generally accounting for more than one-third of the total loans.
2. Calculate the monthly payment, total interest and total repayment of commercial loans when choosing the repayment method of average capital and equal principal and interest.
According to the repayment formula of general mortgage loans, it can be divided into two types:
I. Calculation formula of equal principal and interest:
Calculation principle: from the beginning of monthly contribution, the bank collects the interest of the remaining principal first, and then the principal; The proportion of interest in monthly payment decreases with the decrease of residual principal, and the proportion of principal in monthly payment increases with the increase, but the total monthly payment remains unchanged.
It should be pointed out that:
1, the maximum amount of urban provident fund loans should be combined with local conditions;
2. For residents who have borrowed money to buy a house but whose per capita area is lower than the local average, and then apply for buying a second set of ordinary self-occupied housing, the preferential policies for buying ordinary self-occupied housing with the first set of loans shall be implemented mutatis mutandis.
Second, the average capital calculation formula:
Monthly repayment = monthly principal, monthly principal and interest
Monthly principal = principal/repayment months
Monthly principal and interest = (principal-total accumulated repayment) x monthly interest rate
Calculation principle: the amount of principal returned every month is always the same, and the interest will decrease with the decrease of the remaining principal.
Formula description
According to the above formula
Principal: total loan amount
Number of repayment months: loan term X 12. For example, for a loan of 10 years, the repayment period is 10X 12= 120 months.
Monthly interest rate: monthly interest rate = annual interest rate/12.
Annual interest rate: that is, in the hot topic of mortgage discussion, the figure obtained after the base interest rate is 30% off and 8.5% off.
Cumulative repayment amount: the cumulative repayment amount in the first month of average capital repayment law is 0.
For example: 2009 annual interest rate table
Basic annual interest rate: 5.94%
15% annual interest rate: 5.05%
30% annual interest rate: 4. 16%
Annual interest rate of provident fund: 3.87%
explain
Mr. Wang borrowed 400,000 yuan from the bank to buy a house and paid it off in 20 years. The bank gave Mr. Wang a 30% interest rate.
If the annual interest rate is changed to monthly interest rate, the monthly interest rate is 4.16%/12 = 0.00347.
Average capital repayment method:
Monthly principal = 400,000/240 =1666.67
Monthly principal and interest = 400,000× 0.00347 =1388.
Repayment in the first month =1666 438+0388 = 3,054.67 yuan.