In fact, most people prefer the "equal repayment method" because this method has a fixed monthly repayment amount and a balanced repayment pressure, which is not much different from the average capital method. Moreover, with the increase of time, the use value of funds will be different.
Of course, there are also many people who are relatively rich and want to make their future life easier and save costs. They will choose the average capital method.
Main differences between equal principal and interest and average capital:
The characteristics of the equal principal and interest method are: the total amount of interest paid is more than the average capital method, and the longer the loan period, the greater the interest difference. However, because the repayment amount is the same every month, it is suitable for family expenditure plans, especially for young people, and the principal and interest method can be adopted, because income will increase with age or promotion.
The characteristic of the average capital method is that the repayment amount is the largest in the first month, and then it decreases month by month, and the less it is. The total interest paid is less than the equal principal and interest method. However, this repayment method has a high repayment amount in the early stage of the loan period and is suitable for lenders with strong repayment ability in the early stage. The main method can be used for the elderly, because income may decrease with age or retirement.
Equal principal and interest method
One of the most important characteristics of the equal principal and interest method is that the monthly repayment amount is the same. In essence, the proportion of principal increases month by month, while the proportion of interest decreases month by month, and the number of monthly repayments remains unchanged. That is to say, in the "principal and interest" distribution ratio of monthly payment, the interest ratio repaid in the first half is large and the principal ratio is small, and it gradually turns into the principal ratio and the interest ratio is small after the repayment period is over half.
Average capital method
The biggest feature of the average capital method is that the monthly repayment amount is different, showing a state of decreasing month by month; It distributes the loan principal evenly according to the total number of months of repayment, plus the interest of the remaining principal in the previous period, thus forming the monthly repayment amount, so the repayment amount of the average capital method is the largest in the first month, and then decreases month by month, and the less it is.
Extended data:
Basic introduction
Participants in mortgage loans include commercial banks that provide credit funds, buyers who eventually buy real estate and real estate owners (including developers/second-hand housing owners). When applying for loans, it is also necessary to evaluate the participation of companies and mortgage guarantee companies.
According to the statistical data released by Beijing Wancai United Investment Management Co., Ltd., a real estate guarantee company, by the end of 20 10, the utilization rate of mortgage loans has reached a high level in major first-tier cities in China. In terms of housing mortgage loans, the loan ratio has reached more than 70%.
Moreover, in recent years, the number of residents who apply for real estate mortgage loans with their own or relatives' properties to revitalize real estate is also increasing. "Mortgage" has become a way of life closely related to residents' lives.
classify
housing loans
Personal housing loan refers to the loan issued by the bank to the borrower for the purchase of ordinary housing for personal use. The borrower must provide a guarantee when applying for a personal housing loan. Personal housing loans mainly include entrusted loans, self-operated loans and portfolio loans. entrusted loan
Personal housing entrusted loan refers to the loan issued by the bank to individuals who purchase ordinary housing as required, and the source of funds is housing provident fund deposits. Also known as provident fund loans.
Self-operated loan
Personal housing self-operated loan is a loan issued to individual buyers with bank credit funds as the source. Also known as commercial personal housing loans, the loan names of banks are different. China Construction Bank is called individual housing loan, and Industrial and Commercial Bank and Agricultural Bank are called individual housing guarantee loan.
Consortium lending
Personal housing portfolio loan refers to a loan issued to the same borrower by using housing provident fund deposits and credit funds to purchase self-occupied ordinary housing, which is a combination of personal housing entrusted loans and self-operated loans. In addition, there are housing savings loans and mortgage loans.
Mortgage repayment methods: average capital, equal principal and interest, biweekly payment, etc.
Loan amount: 80% of the loanable property value after passing the bank review.
Down payment on mortgage: 30% down payment is required for the first home mortgage loan and 50% down payment for the second home mortgage loan.
Loan life: 30 years for first-hand houses and 20 years for second-hand houses. At the same time, the loan period plus the applicant's age should not exceed 70 years old.
Loan interest rate: the benchmark interest rate for the first set of housing loans over five years is 6.55%, and the interest rate for the second set of housing loans is 1. 1 multiple of the benchmark interest rate, that is, 7.26%.
Repay the loan in advance
Because the mortgage lender who needs to prepay needs to carefully check the prepayment request and then review it, and the application also takes some time. If the lender wants to repay the loan in advance, he should usually keep his ID card and loan contract with the bank after making a phone call or making a written request. As a trustee, the custodian should keep the real estate license well.
Settle other debt documents that confirm the pledge in the bank, and go to the district construction committees to understand the pledge situation. What is not noticed is that if the diners don't have a one-time knot.
The original policy and invoice can be booked by calling the relevant security companies. If it is the mortgage business between depositors and owners, it is best to find an amateur guarantee service agency to do notarization, so as to avoid the situation that depositors have not purchased or owners repay in advance after the depositor's audit procedures.
First of all, don't forget to surrender the loan in advance.
When the lender handles the loan, the bank will cancel the pledge. For example, if prepayment procedures are required, Hefei Small Loan Bank usually requires the lender to submit a written or telephone request 15 working days in advance, and the bank receives the loan.
If it is a lender who settles the full balance, Hefei micro-loan is to make the remaining loan amount after the bank, so that the lender can take out the remaining money to repay the loan in advance.
Second, pledge cannot be ignored.
The danger of the owner's falling price after the down payment is paid off. After the borrower settles all the balance in advance, the bank will show the settlement confirmation form, and the lender will make plans after taking care of the copy of the loan settlement confirmation form issued by the bank and the original system of each bank.
Third, prepayment needs preparation.
At present, some banks will release the pledge themselves. After the pledge is released, the lender needs to go to the bank to get a copy of the household registration book. There will be changes. Banks stipulate that early repayment should be several times of 65,438+0,000, and some banks need to charge a certain amount of non-compliance. If the depositor pays off the loan, he must not forget to pledge a certain loan, and he cannot ask for surrender.
References:
Baidu encyclopedia-mortgage loan