The expected annualized interest rate of commercial loans is 4.90%(5 to 30 years). If you buy the first suite with a loan, the minimum down payment is 20%. Many bank loans are expected to have discounts on annualized interest rates, some of which are 10% off and some are 8.8% off, depending on the regulations of specific banks.
For example, the price of the first suite is * * * 1 10,000, and the down payment is 30%. Mortgage loan for 30 years. How much is the monthly payment? What is the total interest?
The total house price is 6,543,800,000 yuan, with a down payment of 300,000 yuan and a mortgage of 700,000 yuan, with a term of 30 years. The expected annualized interest rate of the loan is based on the benchmark expected annualized interest rate, which is 4.9%.
Calculation formula of average capital repayment:
Monthly repayment amount = principal /n+ residual principal * monthly expected annualized interest rate
Total interest = principal * expected annualized interest rate per month * (loan months /2+0.5)
After calculation, the repayment amount in the first month is 4,802.78 yuan (it will be reduced by 7.94 yuan every month), the total interest is 5 15929. 17 yuan, and the total principal and interest is1215929.17 yuan.
Because the repayment in average capital is decreasing month by month, compared with the repayment of equal principal and interest, the total repayment amount will be less, but the pressure in the early stage of repayment will be greater.