Monthly mortgage refers to a fixed amount that needs to be paid every month when buying a property or applying for a loan, which is usually used to pay a house loan or installment payment. The calculation method of monthly payment is usually equal principal and interest repayment method or average capital repayment method.
Matching principal and interest repayment method means that the borrower repays the loan principal and interest with the same amount every month, that is, the monthly repayment amount is fixed. The calculation formula of monthly payment is: monthly payment = total loan × annual interest rate/12×( 1+ annual interest rate/12) repayment months /( 1+ annual interest rate/12) repayment months-/kloc-0.
The average capital repayment method means that the borrower repays the same amount of loan principal every month, and the interest is calculated progressively every month. The calculation formula of monthly payment is: monthly payment = (total loan/repayment months)+(total loan-total paid principal) × monthly interest rate.
When calculating the monthly payment, factors such as down payment, housing area, housing evaluation price and housing policy need to be considered. For buyers, it is very important to choose the appropriate repayment method and calculation method, which can effectively reduce the economic pressure and improve the efficiency of capital use.
Matters needing attention in calculating monthly payment:
1. Determine the total loan amount and repayment method: Before calculating the monthly payment, you need to determine the total loan amount and repayment method. Property buyers can choose the repayment method of equal principal and interest or average capital according to their own economic situation and investment plan. Different repayment methods may lead to different monthly payments.
2. Consider the change of interest rate: the adjustment of interest rate will affect the monthly repayment. When calculating the monthly payment, we need to consider the influence of interest rate changes. The interest rate may change with time, so you need to use the current interest rate when calculating the monthly payment.
3. Confirm the repayment period: when calculating the monthly payment, you need to confirm the repayment period. Different repayment cycles will lead to different monthly payments. Property buyers need to choose the appropriate repayment period according to their actual situation to ensure the minimum economic pressure and realize their dream of buying a house. Therefore, many factors need to be comprehensively considered in calculating the monthly payment, including the total amount of loans, repayment methods, changes in interest rates, repayment period, loan banks, loan products and so on.