Many people choose mortgage loans to buy houses, which can reduce a lot of economic burden. So how to calculate the monthly mortgage payment? What are the precautions for handling a mortgage? Next, Bian Xiao will introduce relevant contents to you. Let's have a look.
Calculation method of monthly mortgage payment
1. repayment method of equal principal and interest: monthly repayment amount = [loan principal× monthly interest rate× (1interest rate )× repayment months ]=[( 1 interest rate )× repayment months]
2. Monthly interest payable = loan principal × monthly interest rate × [( 1 monthly interest rate )× repayment months -( 1 monthly interest rate) ÷ [( 1 monthly interest rate )× repayment months -65438+]
3. Monthly repayment = loan principal × monthly interest rate ×( 1 interest rate) ÷ (repayment month serial number-1) ÷ [( 1 interest rate) repayment months-1]
Total interest = repayment months × monthly repayment amount-loan principal
What are the precautions for handling a mortgage?
1. When handling a loan, you should choose an appropriate repayment method, which can be divided into two types: equal principal and interest and average capital. The early repayment pressure of average capital is relatively high, but the total interest will be less than the matching principal and interest. The borrower should choose a reasonable repayment method according to his actual situation.
2. The loan must be repaid with interest, so the higher the loan amount, the better. When applying for a loan amount, you must do what you can. In addition, the longer the loan term, the more interest you will generate. The more the loan interest is paid, the greater the repayment pressure. When repaying each installment, it is necessary to ensure timely and full repayment, so as not to affect personal credit.
3. When handling a mortgage, you should pay attention to preparing relevant loan materials in advance, including copies of ID cards, social security certificates, household registration books, income certificates, academic certificates, marriage certificates or single certificates, bank accounts, purchase contracts, down payment invoices, etc.
Summary: The above is the calculation method of monthly mortgage payment introduced by Bian Xiao and some matters needing attention in handling mortgage, hoping to help some friends in need.
How to calculate the mortgage
The specific calculation method is as follows:
Take 200,000 and 20 years as examples.
The bank loan interest rate is comprehensively evaluated according to the credit situation of the loan, and the loan interest rate level is determined according to the credit situation, collateral and national policy (whether it is the first suite). If all aspects are evaluated well, the mortgage interest rates implemented by different banks are different. Under the current policy, the first suite is generally calculated according to the benchmark interest rate:
1 and July 7th, after adjustment, the interest rate over five years is 7.05%, and the monthly interest rate is 7.05%/ 12.
2. Repay 200,000 yuan every month in 20 years (240 months).
3.2000007.05%/ 12 ( 17.05%/ 12) 240/[( 17.05%/ 12) 240- 1].
4. Description: 240 is the power of 240.
Extended data:
Procedures for monthly mortgage payment terms:
People are most concerned about the conditions and procedures in the purchase loan. First of all, the information to be provided for housing loan:
1.3. Original and photocopy of the ID card and household registration book of the applicant and spouse (if the applicant and spouse are not registered in the same household, a marriage certificate shall be attached).
2. The original purchase agreement.
3. 1 Original and photocopy of advance payment receipt for 30% or more of the house price.
4. Proof of the applicant's family income and related assets, including payroll, personal income tax bill, income certificate issued by the unit, bank deposit certificate, etc.
5. The developer's collection account number is 1 copy.