Of course it is different, but the difference will not be too big. This is the case. The mortgage interest rate includes the base interest rate and the floating interest rate. The base interest rate we generally refer to is the same and is uniformly stipulated by the People's Bank of China. When we apply for a loan with a real estate in a bank, the loan is in accordance with the bank's regulations. The interest rate paid by the commercial bank is above the benchmark interest rate given by the People's Bank of China. It will also set an interest rate on its own that the benchmark interest rate will rise or fall. However, the central bank will have requirements for the floating range of commercial banks' interest rates. Therefore, the mortgage interest rates of various banks are different

The mortgage interest rates of different banks for the same customer are different, but the benchmark is the same, which is the loan prime rate (LPR). When giving it to customers, it is always adjusted upward or downward based on LPR, and now it is basically upward adjustment. I happened to inquire about the mortgage interest rate recently. I am located in Beijing. In early April 21, I asked about the commercial loan interest rate for a second home: Agricultural Bank of China 5.7, China Construction Bank 5.7, China Merchants 5.75. Other banks did not inquire. Loans made with real estate at banks

Mortgage interest rates are worth applying for loans with real estate at banks. The interest on the loan must be paid according to the interest rate specified by the bank, and China's mortgage interest rates are uniformly stipulated by the People's Bank of China. , the execution time of each commercial bank can float within a certain range [1].

On June 7, 2012, the central bank issued an urgent document to all commercial banks, requiring commercial banks to maintain the lower limit of the floating range of personal housing loan interest rates at 0.7 times the benchmark interest rate. Commercial banks will implement the new interest rate: if the loan term is more than one year, the loan interest rate will be adjusted once on January 1 every year. During the loan period, if there is no adjustment to the benchmark interest rate, the loan interest rate will not be adjusted. In March 2017, Beijing 16 Bank canceled the 10% discount on the first home loan interest rate and adjusted the first home loan interest rate to 9.5%.

Chinese name

Mortgage interest rate

Foreign name

mortgage rate

Category

Law

Explanation

Refers to the use of real estate loans in banks

Three types of loans to buy a house

Types

There are mainly the following types of loans to buy a house:

1. Housing provident fund loan: For residents who have participated in paying housing provident fund, when buying a house with a loan, they should first choose a loan with low housing provident fund. interest loan. Housing provident fund loans have a policy subsidy nature, and the loan interest rate is very low. It is not only lower than the commercial bank loan interest rate in the same period (only half of the commercial bank mortgage loan interest rate), but also lower than the commercial bank deposit interest rate in the same period. That is to say, under the housing provident fund, There is a spread between mortgage rates and bank deposit rates. At the same time, the fees for housing provident fund loans are halved when handling related procedures such as mortgage and insurance.

2. Personal housing commercial loans: The above two loan methods are limited to employees of units who have paid housing provident funds, and there are many restrictions. Therefore, people who have not paid housing provident funds are not eligible to apply for loans, but they can apply. Commercial bank personal housing guaranteed loans, that is, bank mortgage loans. As long as the balance of your deposit in the lending bank accounts for no less than 30% of the funds required to purchase a house, and you use this as the down payment for purchasing a house, and you have assets recognized by the lending bank as mortgage or pledge, or a unit with sufficient repayment capacity Or if an individual acts as a guarantor to repay the principal and interest of the loan and assumes joint and several liability, then he or she can apply for a bank mortgage loan.

3. Personal housing portfolio loan: The maximum limit of provident fund loans that can be issued by the housing provident fund management center is generally 100,000 to 290,000 yuan. If the purchase price exceeds this limit, the shortfall must be applied to the bank for housing commercialization loan. Together, these two loans are called a portfolio loan. This business can be handled uniformly by the real estate credit department of a bank. Portfolio loans have moderate interest rates and larger loan amounts, so they are often chosen by borrowers.

According to the calculation formulas of general mortgage repayment methods, there are two types:

1. Calculation formula of equal principal and interest:

Calculation principle: The bank starts from each month During the payment, the interest on the remaining principal is collected first, then the principal; the proportion of interest in the monthly payment will decrease as the remaining principal decreases, and the proportion of principal in the monthly payment will increase as the remaining principal increases, but The total monthly payment remains unchanged.

What needs to be noted is:

1. The maximum amount of provident fund loans in various cities should be considered based on local conditions;

2. For those who have already taken a loan to purchase a house However, if the per capita area is lower than the local average, residents who apply to purchase a second ordinary owner-occupied house will be subject to the preferential policies for purchasing an ordinary owner-occupied house with a first loan.

2. Calculation formula of equal principal:

Monthly repayment = monthly principal, monthly principal and interest

Monthly principal = principal/ Number of repayment months

Monthly principal and interest = (principal - total cumulative repayment) Decrease due to decrease in remaining principal.

Features

China’s mortgage interest rates are uniformly stipulated by the People’s Bank of China. For a loan obtained from a bank using real estate, the interest on the loan must be paid according to the interest rate specified by the bank. This interest rate is the mortgage interest rate. On June 7, 2012, the central bank issued an urgent document to all commercial banks, requiring commercial banks to maintain the lower limit of the floating range of personal housing loan interest rates at 0.7 times the benchmark interest rate.

Commercial banks will implement new interest rates: From January 1, 2013, mortgage owners can reduce their pressure. However, each commercial bank can float within a certain range when implementing it. China's mortgage interest rates are not always constant, but change frequently. In the form that interest rates have been rising, we often compare the situation before and after the interest rate increase.

Calculation formula

1. Basic knowledge of interest calculation

(1) The interest rate conversion formula for RMB business is (note: common for deposits and loans):

p>

1. Daily interest rate (0/000) = annual interest rate ()÷360 = monthly interest rate (‰)÷30

2. Monthly interest rate (‰) = annual interest rate ()÷12

(2) Banks can calculate interest using the cumulative interest calculation method and the transaction-by-transaction interest calculation method.

1. The accumulation interest calculation method is based on the daily accumulated account balance based on the actual number of days, and interest is calculated by multiplying the accumulated accumulation number by the daily interest rate. The interest accrual formula is:

Interest = cumulative interest accrual amount × daily interest rate, where cumulative interest accrual amount = total daily balance.

2. The interest calculation method calculates interest on a case-by-case basis according to the predetermined interest calculation formula: interest = principal × interest rate × loan period. There are three specific methods:

The interest calculation period is the whole Years (months), the interest calculation formula is:

①Interest = principal × number of years (months) × year (months) interest rate

The interest calculation period lasts for a whole year (months) ) If there are fractional days, the interest calculation formula is:

②Interest = principal × number of years (months) × interest rate per year (months) principal × number of fractional days × daily interest rate

At the same time, the bank can choose to convert all interest calculation periods into actual days to calculate interest, that is, each year is 365 days (366 days in leap years), and each month is the actual number of days in the Gregorian calendar in that month. The interest calculation formula is:

③ Interest = principal × actual number of days × daily interest rate

These three calculation formulas are essentially the same, but since the interest rate conversion only counts 360 days in a year, when the actual daily interest rate is calculated, the year will count as 365 Calculated in days, the results obtained will be slightly biased. Which formula is used to calculate the specific formula? The central bank gives financial institutions the right to choose independently. Therefore, the parties and the financial institution can agree on this in the contract.

(3) Compound interest: Compound interest means charging interest at a certain rate. According to the regulations of the central bank, if the borrower fails to repay the interest within the time stipulated in the contract, compound interest will be charged.

(4) Penalty interest: If the lender fails to repay the bank loan within the prescribed time limit, the penalty interest imposed on the defaulter by the bank according to the contract signed with the party concerned is called bank penalty interest.

(5) Overdue loan liquidated damages: The nature is the same as penalty interest, and it is a punitive measure against the party who defaults on the contract.

(6) Formulation and filing of interest calculation methods

The interest calculation and settlement rules and interest calculation methods for deposits and loans formulated by national commercial banks shall be reported to the Head Office of the People's Bank of China Register and notify customers; regional commercial banks and urban credit cooperative legal persons report to the branches of the People's Bank of China and central branches in provincial (capital) cities for registration and notify customers; rural credit cooperatives and county cooperative legal persons can formulate plans based on the actual situation of rural credit cooperatives in the county where they are located. , interest settlement rules and interest calculation methods for deposit and loan business shall be reported to the branch of the People's Bank of China and the central branch of the provincial capital (capital) city for filing, and shall be informed to customers by the legal person of the rural credit cooperative.