Then the interest for 30 years is: total interest = monthly repayment amount * 12*30- loan principal.
2. Average capital, the calculation formula is: monthly repayment amount = (loan principal/repayment months)+(principal-accumulated amount of repaid principal) × monthly interest rate.
Then the interest for 30 years is: total interest = monthly repayment amount * 12*30- loan principal.
If you mortgage for 30 years and repay in advance, the interest will be calculated according to the remaining principal on the repayment date, excluding the interest in the following years.
How to calculate the loan interest?
1. Individual housing loans shall be implemented according to the interest rate of individual housing loans stipulated by the People's Bank of China; Personal commercial housing loans shall be implemented at the term interest rate stipulated by the People's Bank of China.
2. Equal repayment of principal and interest, that is, equal repayment of loan principal and interest every month within the relevant loan period until the loan is settled. The total amount that buyers have to pay back every month is equal, but the ratio of interest to principal will change every time.
3. Equal repayment of principal, that is, equal repayment of principal every month, and the loan interest decreases month by month with the decrease of principal until the loan is settled. The amount that buyers change every month is different, which decreases with the decrease of monthly principal and gradually decreases with the increase of repayment times.
4. Take the repayment of a loan of 200,000 yuan in 20 years as an example. According to the annual interest rate of 7.47%, the repayment in 1 month is 2078.33 yuan, and then it will decrease every month, and the repayment in the next month is 838.52 yuan. Interest was paid 150022.5 yuan, and the total loan repayment was 350022.5 yuan.