House prices are very high now, especially in first-tier cities. For some people, they can only take out a loan to buy it, and then repay as much as they want each year based on the corresponding interest. Well, we must have a detailed understanding of this matter. First of all, we must know how to calculate the monthly loan payment for buying a house. Secondly, we must know what types of loans there are for buying a house.
How to calculate the monthly payment for a house loan?
1. In fact, the better way is to use the mortgage calculators on major websites to calculate, which is simple and convenient. Step 1: First select whether your repayment method is equal amounts of principal or equal amounts of principal and interest, and fill in the commercial loan period, loan amount, and actual interest rate of the loan.
2. Choose whether to display the repayment details, and click the "Calculate" button to obtain detailed information such as the monthly payment amount, total loan interest, and total repayment for each period.
1. Equal principal and interest repayment method: monthly monthly payment = [loan principal × monthly interest rate × (1 + monthly interest rate) ＾number of repayment months] ÷ [(1 + monthly interest rate) ＾ repayment Number of months - 1] Monthly interest payable = loan principal × monthly interest rate × [(1 + monthly interest rate) ＾ Number of repayment months - (1 + monthly interest rate) ＾ (repayment month number - 1) ] ÷ [ (1 + month Interest rate)＾Number of repayment months-1〕Monthly principal payable =Loan principal×monthly interest rate×(1＋monthly interest rate)＾(repayment month number-1)÷〔(1＋monthly interest rate)＾Number of repayment months -1] Total interest = number of repayment months × monthly payment - loan principal
2. Equal principal repayment method: monthly monthly payment = (loan principal ÷ repayment month Number) + (loan principal - cumulative amount of repaid principal) × monthly interest rate Monthly principal repayment = loan principal ÷ number of repayment months Monthly interest repayment = remaining principal × monthly interest rate = (loan principal - Cumulative amount of principal that has been repaid) × monthly interest rate Monthly payment reduction amount = monthly principal payable × monthly interest rate = loan principal ÷ number of repayment months × monthly interest rate Total interest = [(total loan amount ÷ repayment Number of months + total loan amount × monthly interest rate) + total loan amount ÷ number of repayment months × (1 + monthly interest rate) ] ÷ 2 × number of repayment months - total loan amount.
What are the types of loans to buy a house?
1. Housing provident fund loans: For residents who have participated in paying housing provident fund, when purchasing a house with a loan, housing provident fund low-interest loans should be preferred. Housing provident fund loans are policy subsidies.
2. The loan interest rate is very low, 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. In other words, in housing There is an interest rate spread between provident fund 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.
3. Personal housing commercial loans: The above 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 for commercial banks. Personal housing guaranteed loan, also known as bank mortgage loan.
4. 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 collateral or If a mortgage is pledged, or a unit or individual with sufficient repayment capacity acts as a guarantor to repay the principal and interest of the loan and bear joint liability, then you can apply for a bank mortgage loan.
5. Personal housing portfolio loans: Provident fund loans that can be issued by the housing provident fund management center. The upper limit 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 commercial loans. sex 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.
For some young people, they will buy a house of their choice to live in through a loan. Then, the above article will tell you how to calculate the monthly payment of a house loan. When it comes to your two calculation methods, you can calculate how much monthly payment you need to pay, and we will tell you what kinds of loans are available to buy a house. Just choose one of these methods to get a loan.