Repayment formula: [loan principal × monthly interest rate ×( 1+ monthly interest rate) repayment months ]≤[( 1+ monthly interest rate) repayment months-1] The loan is 660,000 yuan, which needs 29 years and the monthly repayment is 3,497.62 yuan.

The calculation method of buying a house by loan is as follows:

1. Equal principal and interest method: total interest = monthly repayment amount * loan months-principal.

2. Average capital method: total interest = principal * monthly interest rate * (loan months /2+0.5).

Assuming that the borrower's loan amount is 200,000 yuan, the loan term is 20 years, and the loan interest rate is 7.47%, it can be concluded that the total interest payable by the borrower on the loan to buy a house is 65,438+085,804.7 yuan. Calculated by the average capital method, it can be concluded that the total interest payable by the borrower for buying a house by loan is 150022.5 yuan.

Current benchmark interest rate

1 and 10 fixed-rate loans 8.613% 6.930% 7.953% 7.099%.

2.20-year fixed-rate loan 8.811%7.580% 8.121%7.246%.

3. Five-year floating rate loan 5.760% 4.032% 5.918% 4.204%.

4.30-year floating rate loan 5.940% 4.158% 6.098% 4.350%.

5. The mixed interest rate loan with a fixed term of 3 years is 7.200% 6.120% 8.041%7.069%.

6. Mixed interest rate loans with a fixed term of 5 years 7.290% 6.660% 8.121%.

Baidu Encyclopedia-Average Capital

Reference to the above content: Baidu Encyclopedia-Equal principal and interest