What are the repayment methods of housing loans?
1, equal principal and interest repayment.
Matching principal and interest repayment is a popular repayment method at present, and it is also recommended by banks. The borrower repays the loan principal and interest with the same amount every month, that is, the total loan principal and interest are added up and evenly distributed to each month of the repayment period.
2. Repayment of equal principal.
The repayment method of average capital is also commonly used by banks at present, which is suitable for people with higher income at present, but who have predicted that their income will decrease in the future.
3. One-time repayment of principal and interest.
One-time repayment of principal and interest actually refers to the way of early repayment. According to the regulations of the bank, if the loan term is less than one year (including one year), the principal and interest will be repaid at the maturity, and the interest will be paid off with the principal.
4. Pay interest and principal on schedule.
If the buyers choose to repay the principal and interest on schedule, they need to negotiate with the bank to make different repayment time units for the return of the loan principal and interest.
Who is suitable for prepayment?
1. If the loan with equal principal and interest does not exceed one third of the loan term, such mortgage borrowers can repay in advance.
2. In the average capital, if the loan term does not exceed a quarter of the total loan term, such mortgage borrowers can make partial prepayment.
3. If you want to pay off the mortgage, or if you want to pay off the loan and take back the mortgage to sell the house, such mortgage holders can repay in advance.
4. For mortgage borrowers with high monthly provident fund, since the provident fund is earmarked, if it is not used to repay the mortgage, it will not be available in the account, so it is better to repay the loan in advance.
5. If you really don't like to "borrow money" and the mortgage is in the early stage of repayment, you can consider repaying the loan in advance. On the one hand, you can pay off the loan as soon as possible. On the other hand, you can save a lot of mortgage interest.
6. If the mortgage interest rate is floating, although the benchmark interest rate of commercial bank loans has been lowered, if your mortgage interest rate is not discounted and floating, you can also consider repaying in advance, thus reducing the loan cost.
7. Mortgagers without financial channels have many financial products that are higher than the benchmark loan interest rate. However, if you are not a good financial manager and have no financial channels, you may wish to consider prepayment.