This paper gives a detailed explanation and explanation on how to calculate housing loan, and also introduces some matters needing attention in housing loan.
When buying a house, the heavy burden of buying a house makes people breathless. At this time, applying for a loan is a good choice to reduce the pressure. Housing loans are increasingly accepted by people. The calculation of housing loan has also become a concern. There is a lot to know about the calculation of housing loan, so this paper will discuss some problems about the calculation of housing loan.
How to calculate the housing loan?
1. The loan amount is 80% of the total price or evaluation value (whichever is lower) of the house purchased (built or overhauled); The loan period is generally not more than 30 years. The loan interest rate is subject to the relevant interest rate policies of the People's Bank of China and the China Banking Regulatory Commission. Repayment method
2. For houses with a loan term of more than one year, there are generally two repayment methods: average capital repayment method and equal principal and interest repayment method.
3. Matching principal and interest repayment method is the default repayment method of the bank, that is, the borrower repays the loan principal and interest with the same amount every month, also known as matching repayment method.
Its characteristic is that the principal and interest of monthly repayment are the same. Although this repayment method is easy to budget and the initial repayment pressure is reduced, the interest of initial repayment accounts for most of the monthly repayment, and the proportion of principal in repayment gradually increases and the proportion of interest gradually decreases, thus achieving a relative balance. The interest paid by this repayment method is high, but the pressure of prepayment is not great. This repayment method is suitable for ordinary wage earners.
Calculation method of equal principal and interest repayment:
[loan principal × monthly interest rate ×( 1 monthly interest rate) repayment months ]=[( 1 monthly interest rate) repayment months]
4. Matching principal repayment is also one of our common repayment methods. Average capital repayment method is that the borrower repays the principal in equal amount every month, and the loan interest decreases month by month with the principal, and the repayment amount also decreases month by month, so it is also called diminishing method.
Its characteristic is to repay the principal every month and calculate the interest on a daily basis according to the loan principal amount. The early repayment amount is large, and the monthly repayment amount is gradually reduced. The interest paid by this repayment method is low, but the pressure of prepayment is great. Therefore, this repayment method is suitable for families with better economic income.
Calculation formula of equal principal repayment:
Monthly repayment amount = (loan principal/repayment months) (principal-accumulated amount of repaid principal) × monthly interest rate.
Loan repayment methods are divided into average capital repayment method and matching principal and interest repayment method.
You should repay part of the principal every time, no problem.
The bank loan is not a one-time repayment of the principal, but has paid off the principal and interest within your repayment period.
The above are our explanations and views on the calculation of housing loans. I hope our article can give you some useful help when you apply for a housing loan.
How to calculate the mortgage?
Loan interest is a kind of principal interest that buyers borrow from banks and pay at the interest rate stipulated by banks. The calculation formula of interest is:
Interest = principal × interest rate× deposit period (i.e. time).
The calculation of mortgage interest will be different because of the different loan methods and mortgage repayment methods.
According to the different repayment methods of mortgage, the calculation of mortgage interest can be divided into two calculation methods: equal principal and interest and average principal.
How to calculate the mortgage interest? First of all, we should understand the basic knowledge of interest.
I. The interest rate conversion formula for RMB business is (note: common for deposits and loans):
Daily interest rate (0/000)= annual interest rate (%)÷360= monthly interest rate (‰)÷30.
2. Monthly interest rate (‰) = annual interest rate (%)÷ 12
Two, banks can use product interest method and transaction interest method to calculate interest.
1. Accumulate the account balance daily according to the actual number of days, and multiply the accumulated product by the daily interest rate to calculate the interest. The interest-bearing formula is:
Interest = cumulative interest-bearing product × daily interest rate, where cumulative interest-bearing product = total daily balance.
2. Transaction-by-transaction interest calculation method calculates interest one by one according to the preset interest calculation formula: interest = principal × interest rate × loan term, with three details:
If the interest-bearing period is a whole year (month), the interest-bearing formula is:
① Interest = principal × year (month )× year (month) interest rate
If the interest-bearing period is a whole year (month) and days, the interest-bearing formula is:
② Interest = principal × year (month) × year (month) interest rate principal × odd days × daily interest rate.
At the same time, banks can choose to convert all interest-bearing periods into actual days to calculate interest, that is, 365 days per year (366 days in leap years), and each month is the actual number of days in the Gregorian calendar of the current month. The interest-bearing formula is as follows:
③ Interest = principal × actual days × daily interest rate
These three formulas are essentially the same, but because the interest rate conversion is only 360 days a year, when calculating the actual daily interest rate, it will be calculated as 365 days a year, and the result will be slightly biased.
Which formula is used specifically, the central bank gives financial institutions the right to choose independently. Therefore, the parties and financial institutions can agree on this in the contract.
Extended data:
Calculation method
Tool description
1, operation steps:
Step 1: First, choose whether your repayment method is average capital or equal principal and interest, and fill in the commercial loan term, loan amount and actual loan interest rate;
Step 2: Select whether to display repayment details, and click "Calculate" to get detailed information such as monthly repayment amount, total loan interest, total repayment amount, etc.
point out
1. Commercial loans are loans used to supplement the working capital of industrial and commercial enterprises. Generally, they are short-term loans, usually 9 months, and no more than one year at most, but there are also a few medium-and long-term loans. This kind of loan is the main part of commercial bank loans, generally accounting for more than one-third of the total loans.
2. Calculate the monthly payment, total interest and total repayment of commercial loans when choosing the repayment method of average capital and equal principal and interest.
According to the repayment formula of general mortgage loans, it can be divided into two types:
I. Calculation formula of equal principal and interest:
Calculation principle: from the beginning of monthly contribution, the bank collects the interest of the remaining principal first, and then the principal; The proportion of interest in monthly payment decreases with the decrease of residual principal, and the proportion of principal in monthly payment increases with the increase, but the total monthly payment remains unchanged.
It should be pointed out that:
1, the maximum amount of urban provident fund loans should be combined with local conditions;
2. For residents who have borrowed money to buy a house but whose per capita area is lower than the local average, and then apply for buying a second set of ordinary self-occupied housing, the preferential policies for buying ordinary self-occupied housing with the first set of loans shall be implemented mutatis mutandis.
Second, the average capital calculation formula:
Monthly repayment = monthly principal, monthly principal and interest
Monthly principal = principal/repayment months
Monthly principal and interest = (principal-total accumulated repayment) x monthly interest rate
Calculation principle: the amount of principal returned every month is always the same, and the interest will decrease with the decrease of the remaining principal.
Formula description
According to the above formula
Principal: total loan amount
Number of repayment months: loan term X 12. For example, for a loan of 10 years, the repayment period is 10X 12= 120 months.
Monthly interest rate: monthly interest rate = annual interest rate/12.
Annual interest rate: that is, in the hot topic of mortgage discussion, the figure obtained after the base interest rate is 30% off and 8.5% off.
Cumulative repayment amount: the cumulative repayment amount in the first month of average capital repayment law is 0.
For example: 2009 annual interest rate table
Basic annual interest rate: 5.94%
15% annual interest rate: 5.05%
30% annual interest rate: 4. 16%
Annual interest rate of provident fund: 3.87%
explain
Mr. Wang borrowed 400,000 yuan from the bank to buy a house and paid it off in 20 years. The bank gave Mr. Wang a 30% interest rate.
If the annual interest rate is changed to monthly interest rate, the monthly interest rate is 4.16%/12 = 0.00347.
Average capital repayment method:
Monthly principal = 400,000/240 =1666.67
Monthly principal and interest = 400,000× 0.00347 =1388.
Repayment in the first month =1666 438+0388 = 3,054.67 yuan.