Mortgage loan is a very popular way to buy a house now. Mortgage loan can let buyers buy a house in advance and relieve economic pressure. They can buy a house in advance, move in first, and then repay the loan slowly. Since you have to know the interest if you want to repay the loan, how to calculate the mortgage interest?
A house, 100 square meter, 10000 square meter, 30% down payment, how much is the monthly payment and the total interest? According to the loan for 20 years:
Total house price10000100 =1000,000 yuan, down payment of 30% (300,000 yuan), loan amount of 700,000 yuan, and loan period of 20 years. The expected annualized interest rate of mortgage loan is calculated according to the repayment methods of "equal principal and interest method" and "average capital method" respectively as follows:
1, equal principal and interest method:
Calculation formula: monthly repayment amount = monthly expected annualized interest rate of principal [( 1 expected annualized interest rate) n/[( 1 expected annualized interest rate) n- 1]
Where n represents the number of months of loan, and n represents the power of n, such as 240, representing the power of 240 (20 years and 240 months of loan).
Monthly expected annualized interest rate = annual expected annualized interest rate/12
Total interest = monthly repayment amount-loan months-principal
Calculate the monthly repayment amount as RMB (the same every month). The total repayment amount is RMB, and the total interest amount is RMB.
2, the law of average capital:
Calculation formula: Monthly repayment amount = N-month expected annualized interest rate of principal/residual principal.
Total interest = expected annualized interest rate of principal month (loan months /2). After calculation, the repayment amount in the first month is RMB yuan (decreasing month by month, and the repayment amount in the last month is RMB yuan). The total repayment amount is RMB, and the total interest amount is RMB.
Compared with the above two methods, the average capital method is smaller than the equal principal and interest method. The mainstream repayment method of banks is equal principal and interest method, and the most common formula is monthly repayment amount = expected annualized interest rate of principal month [( 1 expected annualized interest rate) n/[( 1 expected annualized interest rate) n- 1]. How to calculate the mortgage interest, the borrower can choose freely when choosing the repayment method.
How to calculate the mortgage interest rate
The calculation formula of mortgage interest is: interest = principal × interest rate × deposit period (i.e. time).
According to the repayment formula of general mortgage loans, it can be divided into two types:
1. Calculation formula of equal principal and interest: calculation principle: the bank collects the interest of the remaining principal first, and then the principal of the monthly contribution; 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.
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.
Housing loans mainly include the following:
1. Housing provident fund loan: For residents who have already paid the housing provident fund, low-interest housing provident fund loans should be the first choice when buying a house. Housing provident fund loans have the nature of policy subsidies, and the loan interest rate is very low, which is not only lower than the loan interest rate of commercial banks in the same period (only half of the mortgage interest rate of commercial banks).
2. Personal housing commercial loans: The above two loan methods are limited to employees who have paid the housing provident fund, and there are many restrictions. Therefore, people who have not paid the housing provident fund have no chance to apply for loans, but they can apply for personal housing secured loans from commercial banks, that is, bank mortgage loans.
I. The interest rate conversion formula for RMB business is (note: common for deposits and loans):
1. 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.
What is the annual interest rate of the house loan?
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.
What's the interest rate of mortgage loan?
If the interest is not paid monthly, the actual annual interest rate will not be affected, or 3.85%. If the interest is paid monthly, the monthly interest rate is 3.85/ 12=0.32%, and the actual annual interest rate is (10.32%)12-1≈ 3.91%.
Knowledge expansion:
The interest calculation formula is mainly divided into the following four situations.
First, the basic formula for calculating interest. The basic formula for calculating the interest of savings deposits is: interest = principal × deposit period × interest rate;
The second is the conversion of interest rate, in which the conversion relationship among annual interest rate, monthly interest rate and daily interest rate is: annual interest rate = monthly interest rate × 12 (month) = daily interest rate ×360 (day); Monthly interest rate = annual interest rate ÷ 12 (month) = daily interest rate ×30 (days); Daily interest rate = annual interest rate ÷360 (days) = monthly interest rate ÷30 (days). In addition, the use of interest rates should be consistent with the deposit term;
III. Starting point of interest calculation formula, 1, starting point of interest of savings deposit is RMB, and no interest is paid for points below RMB; 2. The interest amount shall be calculated to one decimal place and rounded to one decimal place when actually paid; 3. All savings deposits, regardless of the deposit period, are paid with the principal at the time of withdrawal, excluding compound interest, except that the current savings are settled annually and the interest can be converted into the principal;
Fourth, the calculation of the deposit period is in the interest calculation formula, 1, and the calculation of the deposit period adopts the method of not counting the first number and the last number; 2. Every month is counted as 30 days, regardless of big month, small month, flat month and leap month, and every year is counted as 360 days. 3. The maturity date of all kinds of deposits shall be calculated annually and monthly. If the account opening date is the missing date of the due month, the last day of the due month is the due date.
Provisions for calculating the term of deposit:
1. When calculating interest, the number of days of deposit is calculated at the beginning, not at the end, that is, from the date of deposit to the day before withdrawal;
2, regardless of leap year, average year, regardless of the size of the month, 360 days a year, 30 days a month;
3. Calculated by year, month and day, the maturity date of various time deposits shall be subject to year, month and day. That is, from the deposit date to the same day of the following year is a pair of years, and the deposit date to the same day of next month is a pair of months;
4. Maturity date of time deposit. For example, if you don't work on legal holidays, you can withdraw one day in advance and calculate interest at maturity. The procedure is the same as that of early withdrawal.
The calculation formula of interest: principal × annual interest rate (percentage) × deposit period.
If the interest tax is X (1-5%)
Total principal and interest = principal interest
The calculation formula of accrued interest is: accrued interest = principal × interest rate × time.
Accrued interest shall be accurate to two decimal places, and the number of interest-bearing days shall be calculated according to the actual holding days.
How to calculate the interest on mortgage loan?
If you want to calculate the interest of mortgage loan, you must know the mortgage type, loan amount, loan interest rate, loan term and loan repayment method.
I. Types of loans
There are three kinds of loans: provident fund loans, pure commercial loans and portfolio loans. The biggest difference lies in the different loan interest rates.
1, the first home loan interest rate of provident fund loan 15 years, 2.75%, 5 years and above, 3.25%; The second suite is 1. 1 times higher than the first home loan.
2. The interest rate of pure commercial loans is based on LPR basis points, mainly referring to the LPR interest rate in the same period of last month. For example, the five-year LPR is 4.45% and the added value given by the bank is 80 BP, so the mortgage interest rate is 5.25%.
3. Portfolio loan refers to applying for provident fund loans, but the amount is not enough to apply for commercial loans, and different loan types correspond to corresponding interest rates.
Second, the loan term.
The longest loan period of mortgage loan is 30 years, but it should be calculated according to the applicant's age and retirement age when applying for mortgage.
According to the retirement of women at the age of 55 and men at the age of 60, as long as the applicant is under the age of 35 at the time of loan, he still has the opportunity to borrow for 30 years. The specific term should be comprehensively evaluated in combination with repayment ability, credit status and other factors.
Third, the loan amount.
The amount of commercial loans is assessed by the bank according to the applicant's repayment ability, personal credit and other comprehensive factors.
The amount of provident fund loans should also refer to factors such as the balance of provident fund accounts and the deposit base of provident fund. The amount of housing provident fund centers in different regions is also different.
Fourth, the repayment method
There are two kinds: equal principal and interest and average capital. The former has less loan principal and more interest. The latter repays the principal in equal amount every month, and the monthly payment decreases with the decrease of the principal.
You can get the online loan big data report from the platform of "Xiaoqi Credit Information", which contains information such as online loan history, overdue details of online loans, liabilities, untrustworthy information, and online loan blacklist.
Extended data:
How to calculate the mortgage interest of buying a house?
The calculation of mortgage loan interest mainly depends on what repayment method is chosen. There are two main ways of mortgage repayment: equal principal and interest and average principal.
If the repayment method of equal principal and interest is selected, the calculation formula is: monthly repayment amount (principal interest) = [loan principal × monthly interest rate ×( 1 interest rate )× repayment months ]⊙[( 1 interest rate )× repayment months]. It can be concluded that total interest = monthly repayment amount × repayment months-loan principal = [loan principal× monthly interest rate× (1interest rate )× repayment months ]⊙[( 1 interest rate )× repayment months-loan principal.
If the average repayment method is selected, the calculation formula is: monthly repayment amount (principal interest) = (loan principal ÷ repayment months) (loan principal-accumulated repaid principal) × monthly interest rate. Monthly interest payable = (loan principal-accumulated repaid principal amount) × monthly interest rate, and monthly principal payable = loan principal ÷ repayment months.
How to calculate the mortgage interest rate?
Mortgage interest rate (by year)
6 months 4.86%
1 year 5.3 1%
2 -3 years 5.40%
4 -5 years 5.76%
6 -30 years old, 5.94%
Calculation of mortgage loan interest
Interest calculation formula: deposit interest = expected annualized interest rate period of principal.
(Note that the expected annualized interest rate announced by the central bank is in years. If it is a deposit for half a year or a current account, it should be converted into a monthly expected annualized interest rate and a daily expected annualized interest rate; If it is paid off in one lump sum at maturity, it is the same as the above deposit interest calculation).
Calculation formula of monthly mortgage payment: a = p {i (1i) n/[(1i) n-1]} a: monthly contribution p: total contribution i: monthly expected annualized interest rate (annual interest rate/12)n:
For example, if you buy a house of 500,000 yuan, the first three transactions are 1.5 million yuan. In 20 years, it will be 350,000 yuan, assuming (according to the actual expected annualized interest rate of banks) that the expected annualized interest rate is I=5.4%, (i=5.4%/ 12=0.45%).
Monthly contribution A = 350000× {0.45% (10.45%) 240/[(10.45%) 240-1]} = 2388 yuan.