1, repayment method of equal principal and interest
Its characteristic is that during the whole repayment period, the monthly repayment amount remains unchanged. Lenders can accurately grasp the monthly repayment amount and arrange family expenses in a planned way. Suitable for families with stable income and convenient for borrowers to arrange their monthly life reasonably. For young people who just work, because of their low income in the early stage, they can also choose this repayment method to alleviate the pressure of life.
2. Average capital repayment method
It is characterized in that the principal is divided equally throughout the repayment period, and the interest is calculated daily according to the loan principal balance. The monthly repayment amount decreases gradually, but the repayment rate remains unchanged. Suitable for people who have strong initial repayment ability and want to reduce interest expenses by returning a large sum of money. Old people can also choose this repayment method, because they will get old or retire, and their income may decrease in the later period.
This paper introduces the calculation methods of two repayment methods.
If a house 100 square meters, per square meter 10000 yuan, with a down payment of 30% and a loan of 20 years, then the total price of this house is10000x100 =1000 million yuan, with a down payment of 300,000 yuan and a loan.
1, repayment method of equal principal and interest
Monthly repayment amount = [loan principal × monthly interest rate ×( 1+ monthly interest rate )× repayment months ]≤[( 1+ monthly interest rate )× repayment months]
Monthly interest rate = annual interest rate12
In the formula, 0 represents the power, such as 240, which represents the power of 240 (that is, the loan is 20 years and 240 months).
Monthly repayment amount = 700,000 x (6.13%12) x (1+6.13%/12) 240 ÷ [(/kloc-)
Total interest = monthly repayment amount × loan months-principal = 5067.7x240-700000 = 516248 yuan.
Total repayment amount = monthly repayment amount × loan months = 5067.7x240 =1216248 yuan.
2. Average capital repayment method
Repayment amount in the first month = (loan principal ÷ repayment months)+(loan principal-accumulated amount of repaid principal) × monthly interest rate = 700,000 ÷ 240+700,000 × (6.13% ÷12) = 6,492.50 yuan.
Declining monthly payment = loan principal ÷ repayment months × monthly interest rate = 700,000 ÷ 240x (6.13% ÷12) =14.90 yuan.
Last month's repayment amount = first month's repayment amount-monthly decreasing amount * (loan months-1) = 6492.5-4.9x (240-1) = 2931.4 yuan.
Total interest = [(total loan ÷ repayment months+total loan × monthly interest rate)+total loan ÷ repayment months ×( 1+ monthly interest rate) ]> 2× repayment months-total loan = [(700,000 ÷ 240+700,000)
According to the calculation, the repayment amount in the first month is about 6492.50 yuan (it will decrease month by month, and the repayment amount in the last month is about 293 1.40 yuan. The total repayment is about 1 130900 yuan, and the total interest is about 430900 yuan.
If you think the calculation is complicated, you can also use the real estate network mortgage calculator to calculate the monthly mortgage payment, which is simple and easy to operate.
Extended data
How to save loan interest when buying a house
1, giving priority to provident fund loans.
The interest rate of provident fund loans is much lower than that of commercial loans. If property buyers usually pay housing provident fund, it is recommended to give priority to provident fund loans, which can save a lot of interest.
2. Choose the repayment method in the average capital.
Under the same mortgage interest rate, the repayment method of average capital saves a lot of money than the repayment method of equal principal and interest. However, in the form of average capital repayment, the supply pressure of housing in the early stage is relatively high, and the monthly mortgage payment is very high. After the monthly decline, the pressure behind it will become less.
3. Shorten the loan term
It is precisely because of the existence of compound interest that time determines the amount of interest. Therefore, under the premise of not affecting the loan approval and normal life, shortening the loan period as much as possible can reduce a lot of interest.
Loans for 25 or 30 years, although the monthly repayment is only a few hundred yuan, but it is in these five years that property buyers can pay a lot less interest, so the power of time is still great.
4. Choose a bank with a lower mortgage interest rate.
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