How to calculate interest on the down payment of a house?

For the same house, the loan amount is the same, but the loan selected is different, and the monthly payment is also different. Let’s take a look at the house. How to calculate the interest for the monthly down payment:

1. How to calculate the monthly mortgage payment:

The monthly repayment amount of equal principal and interest = monthly principal interest rate (1+monthly interest rate)^n/ [(1+monthly interest rate)^n-1]

In the formula: monthly interest rate = annual interest rate/12, n represents the number of loan months, ^n represents the nth power, such as ^240, represents 240 times Party (loan for 20 years and 240 months). Note: When calculating (1+monthly interest rate)^n-1, you must first calculate the value in parentheses, then raise it to the power and then subtract 1.

Equal principal monthly repayment = total loan amount/number of repayment months + (total loan amount - principal repaid) monthly interest rate Equal principal and interest = loan principal × monthly interest rate × (1 + monthly interest rate) ^Number of repayment months〕÷〔(1+monthly interest rate)^Number of repayment months-1〕

2. How to calculate mortgage interest:

Repayment per period = per Principal amount per period + interest per period

Principal amount per period = total loan amount/specified number of years

Interest amount per period = (total loan amount - repaid in the previous year) annual interest rate

Monthly repayment = total loan amount/specified number of years + (total loan amount - repaid last year) monthly interest rate