The calculation methods of mortgage are equal principal and interest calculation method and average capital calculation method respectively. The calculation method of equal principal and interest is monthly repayment amount = loan principal multiplied by (monthly interest rate multiplied by (1 monthly interest rate) repayment months) /(( 1 monthly interest rate) repayment months-1); The calculation method of average capital is the monthly repayment amount = (loan principal/repayment months) (loan principal-accumulated amount of repaid principal) multiplied by the monthly interest rate.
Matching principal and interest refers to a repayment method of loans, that is, repaying the same amount of loans (including principal and interest) every month during the repayment period. Equal principal and interest and average capital are not the same concept. Although the monthly repayment amount may be lower than that of average capital at the beginning, the interest paid in the end will be higher than that of average capital, which is a method often used by bank leaders.
Average capital refers to a repayment method of loans. During the repayment period, the total amount of loans is divided into equal parts, and the same amount of principal and interest generated by the remaining loans in that month are repaid every month. In this way, because the monthly repayment amount is fixed and the interest is less and less, the borrower is under great repayment pressure at first, but as time goes on, the monthly repayment amount is less and less.
Loan is a form of credit activity in which banks or other financial institutions lend monetary funds at a certain interest rate and must return them. Banks put concentrated money and monetary funds out by means of loans, which can meet the demand of social expansion and reproduction for supplementary funds and promote economic stagnation. At the same time, banks can also obtain loan interest income and increase their own accumulation.
Housing loan, also known as housing mortgage loan, is an application form for housing mortgage loan filled out by the buyer to the loan bank, as well as legal documents such as ID card, income certificate, housing sales contract and guarantee letter. , must be submitted. After passing the examination, the loan bank promises the loan to the buyer, and handles the real estate mortgage registration and notarization according to the house sales contract provided by the buyer and the mortgage loan contract concluded between the bank and the buyer. The bank will directly transfer the loan funds to the sales unit within the time limit stipulated in the contract.
How to calculate the mortgage interest rate?
You know, the world economy is changing every minute, and the mortgage interest rate in China is also changing, and the interest rate is rising. Therefore, people often compare the differences before and after raising interest rates, so how to calculate the mortgage interest rate? The following small series will briefly introduce the information about the mortgage interest rate, let's take a look! How to calculate the interest rate of rn mortgage? Rn mortgage interest rate is calculated by using the interest paid by real estate in the bank, and the buyer pays a principal interest according to the interest rate stipulated by the bank. The calculation formula is principal × interest rate × deposit period (time). There are two kinds of mortgage interest rates, one is equal principal and interest, the other is average capital, and the mortgage interest rate will be different because of different mortgage repayment methods. Rn, let's talk about the loan interest rate. It is the ratio between the interest amount and the principal amount during the loan period. We all know that the domestic interest rate is managed by the People's Bank of China, and the interest rate determined by the People's Bank of China can only be implemented after it is approved by the State Council. The loan interest rate determines the profit distribution ratio between the borrowing enterprise and the bank, and also affects the economic interests of both borrowers and lenders. Due to different types and maturities, the loan interest rate will be different. The following are two formulas for calculating mortgage interest rate: rn 1, and the formula for calculating equal principal and interest rn. Matching principal and interest means that the bank collects the interest of the remaining principal first, and then collects the principal of the monthly contribution. However, the interest will decrease with the decrease of the remaining principal in the monthly payment, and the proportion of principal in the monthly payment will increase with the increase. The main point is that the total monthly contribution remains unchanged. Rn Note: The amount of provident fund loans in each city is relatively high, which should be considered in combination with local conditions. If you have bought a house with a loan, but the per capita area is lower than the local average, it is possible to apply for a second suite through preferential policies. Rn2, the average fund calculation formula Rn monthly repayment amount = monthly principal and interest; Monthly principal = principal/repayment month; Rn monthly principal and interest = principal-total accumulated repayment) x monthly interest rate. The principle of rn is that the amount of principal returned every month is always the same, and the interest will decrease with the decrease of the remaining principal. Rn editor's summary: The above is a brief introduction to the mortgage interest rate algorithm. There may be some friends who don't know much about it. If you mortgage the house, the bank will give you a detailed introduction. It is worth noting that banks will evaluate the credit and income of borrowers when lending. If the requirements are not met, the bank can also refuse the loan.
How to calculate mortgage interest rate
The calculation formula of mortgage interest is: interest = principal × interest rate × deposit period (i.e. time).
According to the general mortgage repayment formula, it can be divided into two types:
1. Calculation formula of equal principal and interest: calculation principle: the bank will receive the interest of the remaining principal first, and then receive the principal of the monthly contribution; The proportion of interest in monthly contributions decreases with the decrease of residual principal, and the proportion of principal in monthly contributions increases with the increase, but the total monthly contributions remain unchanged.
Second, the average capital calculation formula:
Monthly repayment = monthly principal, monthly principal and interest.
Monthly principal = principal/repayment months
Monthly principal and interest = (principal-total accumulated repayment) x monthly interest rate
Calculation principle: the amount of principal returned every month is always the same, and the interest will decrease with the decrease of the remaining principal.
Housing loans mainly include the following types:
1. Housing provident fund loans: For residents who have already paid the housing provident fund, low-interest housing provident fund loans should be the first choice when buying a house. Housing provident fund loans have the nature of policy subsidies, and the loan interest rate is very low, which is not only lower than the loan interest rate of commercial banks in the same period (only half of the mortgage interest rate of commercial banks).
2. Personal housing commercial loans: The above two loan methods are limited to employees who have paid the housing provident fund, and there are many restrictions. Therefore, people who have not paid the housing provident fund have no chance to apply for loans, but they can apply for personal housing guarantee loans from commercial banks, that is, bank mortgage loans.
I. The interest rate conversion formula for RMB business is (note: common for deposits and loans):
1. daily interest rate (0/000)= annual interest rate (%)÷360 = monthly interest rate (‰)÷30.
2. Monthly interest rate (‰) = annual interest rate (%)÷ 12
Two, banks can use product interest method and transaction interest method to calculate interest.
1. Accumulate the account balance daily according to the actual number of days, and multiply the accumulated product by the daily interest rate to calculate the interest. The interest-bearing formula is:
Interest = cumulative interest-bearing product × daily interest rate, where cumulative interest-bearing product = total daily balance.
2. Transaction-by-transaction interest calculation method carries out transaction-by-transaction interest calculation according to the preset interest calculation formula: interest = principal × interest rate × loan term, with three details:
If the interest-bearing period is a whole year (month), the interest-bearing formula is:
① Interest = principal × year (month )× year (month) interest rate
If the interest-bearing period is a whole year (month) and days, the interest-bearing formula is:
② Interest = principal × year (month) × year (month) interest rate principal × odd days × daily interest rate.
At the same time, banks can choose to convert all interest-bearing periods into actual days to calculate interest, that is, 365 days per year (366 days in leap years), and each month is the actual number of days in the Gregorian calendar of the current month. The interest-bearing formula is as follows:
③ Interest = principal × actual days × daily interest rate
These three formulas are essentially the same, but because the interest rate conversion is only 360 days a year, when calculating the actual daily interest rate, it will be calculated as 365 days a year, and the result will be slightly biased.
The central bank gives financial institutions the right to choose which formula to use. Therefore, the parties and financial institutions can agree on this in the contract.
This concludes the introduction of how to calculate the interest rate of bank housing loan and how to calculate the bank mortgage interest rates. I wonder if you have found the information you need?