Everyone knows that the current housing prices are getting higher day by day, but the demand for houses has not decreased, so everyone has to bear the high housing prices to buy a house. So since the housing prices are very high, everyone has to look elsewhere. Saving the amount of money you can save on the house also requires everyone to choose based on their actual situation. Everyone’s situation is different. Everyone has to choose the most cost-effective way to repay the loan. Today, the editor will talk about how to repay the loan to buy a house. Is a loan more cost-effective? What are the loan options for buying a house?

How to repay the loan more cost-effectively when buying a house with a loan

There are many ways to repay a home loan. If you want to choose a more cost-effective repayment method, such as: equal principal, equal amount Principal and interest, periodic interest payment, one-time principal and interest payment, you may wish to refer to the following to choose the repayment method that best suits you.

1. Equal-amount principal repayment

The total interest expense of the equal-amount principal repayment method is lower, but the principal and interest paid in the early stage are larger, and the repayment burden gradually increases. Decrease monthly. Using the repayment method of equal principal repayment, the borrower distributes the principal to each month and pays off the interest between the previous transaction day and the current repayment date.

2. Repayment of equal principal and interest

The repayment method of equal principal and interest is suitable for borrowers with stable income. Its disadvantage is that the interest will not decrease with the repayment of the principal amount. The bank The funds are occupied for a long time and the total interest on repayment is relatively high. Using the repayment method of equal principal and interest repayment, the same amount is repaid every month, which is easy to operate. Bearing the same amount every month also facilitates the arrangement of income and expenditure.

3. Repayment with interest on schedule

Not all banks have this repayment method of interest on schedule. This method is suitable for people with unstable income. Adopt the repayment method of repaying the principal with periodic interest, and decide on your own to repay at monthly, quarterly or annual intervals. In fact, the borrower combines the monthly repayments into several months and repays them together according to different financial situations.

4. One-time repayment of principal and interest

One-time repayment of principal and interest is actually for some small short-term loans. Bank approval for this repayment method will be stricter. This repayment method is very simple to operate, but its applicability is not strong.

What are the loan methods for buying a house?

1. Commercial loan

Commercial loan is also a bank mortgage loan. Home buyers need to prepare a down payment for the purchase of a house. The proportion of down payment varies in different places. In addition, when applying for a commercial loan, an asset recognized by the lending bank must be used as a mortgage or pledge, or an organization or individual with sufficient repayment capacity must be used to repay the principal and interest of the loan. If the guarantor assumes joint and several liability, you can apply for a bank mortgage loan.

2. Provident fund loans

Housing provident fund loans are policy subsidies, and the loan interest rate is very low, which is not only lower than the commercial bank loan interest rate in the same period, but also lower than the housing provident fund mortgage loan interest rate and bank deposit interest rate. There is a spread between them.

3. Portfolio loans

Personal housing portfolio loans are provident fund loans that can be issued by the housing provident fund management center. If the purchase price exceeds the limit, you must apply for a commercial housing loan from the bank for the shortfall. Together, these two loans are called a portfolio loan. The interest rate of the package loan is relatively moderate, and the loan amount of the package loan is generally relatively large, so it is chosen by more lenders.