When repaying a mortgage, equal amounts of principal and equal amounts of principal and interest are suitable for different groups of people, and they should be chosen according to their own circumstances.

1. The equal principal amount method is suitable for borrowers with strong repayment ability in the early part of the repayment period, because the repayment amount in the first month is the largest, and then decreases month by month, and the repayments become smaller and smaller. The total interest paid is less than the equal principal and interest method.

2. The equal principal and interest method is more suitable for young people, because the total interest paid is more than the equal principal method, and the longer the loan term, the greater the interest difference. However, since the repayment amount of this method is the same every month, the principal and interest method can be used, because as the age increases or the position is promoted, the income will increase.

Can the down payment be refunded if the loan cannot be obtained?

If it is due to bank reasons, such as a tight credit limit, then the home buyer can negotiate with the seller to terminate the home purchase contract and does not have to bear liability for breach of contract. , the seller should return the down payment for the house unconditionally. If the loan approval is affected by the home buyer's own reasons, such as a stain on his credit record or insufficient repayment ability, he should first try to solve the problem, such as finding a guarantee company to guarantee or extending the repayment period. If the problem still cannot be solved, the only option is to cancel it. The house purchase contract is in place.

How to choose a bank for home loan

1. Choose a big brand. For customers, a brand bank means the bank’s good reputation in the industry over the years and the diversification of financial products. And professional, efficient and high-quality services, and later services are also more guaranteed. It is best for home buyers to choose brand banks with high reputation, guaranteed financial security and good service quality, such as the five major banks.

2. Look at bank interest rates. Although the bank’s benchmark loan interest rate is 4.9 for more than 5 years, due to the different popularity and policies of real estate developers in different cities, home buyers are choosing to purchase commercial houses or second houses. They will face the problem of rising interest rates every time, so home buyers should compare more and choose the one that is more suitable for them.

3. Looking at liquidated damages, some banks not only charge liquidated damages for defaulting on payment of house payments, but some banks even charge liquidated damages for partial early repayment of customers. The pressure is greater for customers who pay off their loans early to save interest. Therefore, when comparing banks, be sure to ask clearly about the limits on liquidated damages, so as not to suffer a boring loss.

4. Look at the additional charges. In addition to the principal and interest paid each month, the loan cost, handling fees and other miscellaneous charges also need to be considered by home buyers. When applying for a mortgage, you generally need to pay real estate insurance fees, mortgage registration fees, etc. Therefore, when asking about the interest rate, home buyers should also understand the additional fees in order to clearly analyze the loan costs.

5. Look at the preferential thresholds. The loan thresholds of each bank are different, and the preferential thresholds are naturally also different. Usually, banks have certain requirements for customers who want to obtain preferential interest rates for loans, but not everyone can enjoy the preferential rates or the lowest interest rate discounts.