The higher the down payment, the lower the interest. If you can afford it, you'd better pay back the principal. The lower it is, the principal and interest will remain unchanged.

Second, how to repay the mortgage is cost-effective.

Hello, the choice of repayment method actually depends on your actual situation. According to the actual situation of different customers, the appropriate repayment methods are different. By comparing the monthly repayment amount and the final repayment interest of the two repayment methods, that is, the equal repayment method fixes the monthly repayment amount in advance under the condition that the interest rate remains unchanged, which is convenient for you to remember. The repayment method in the average capital is to divide your loan principal into equal parts within the loan period, and the loan principal returned every month is the same. Because the monthly repayment interest is calculated according to the loan principal, the repayment method in the average capital requires the customer's repayment ability at first, and the initial repayment pressure will be greater, but the monthly payment will decrease month by month, and the repayment pressure will be relatively smaller and smaller. At the same time, under the condition of constant interest rate, the interest paid by equal repayment method will be higher than that paid by average capital repayment method.

To calculate the loan interest or monthly repayment amount, you need to know the loan principal, loan term, repayment method and annual loan interest rate. If the above information is confirmed, you can try to calculate it through our loan calculator. Log in to the lower right of China Merchants Bank official website and find the "Financial Calculator"-"Personal Loan Calculator" for calculation.

3. When is the most cost-effective time to pay off the loan and buy a house?

If the borrower chooses the repayment method of equal principal and interest, it is suggested to pay off the loan within 1/3 of the total repayment period. If the mortgage is 10 years, it is most cost-effective to pay it off in the first four years of the repayment period. If the borrower chooses to repay the same principal, it is suggested to repay the loan within 65,438+0/2 of the total repayment time and 65,438+00 years of the mortgage. It is most cost-effective to pay off the loan five years before the repayment period. Personal housing loan refers to the loan issued by the lender to the borrower for the purchase of ordinary housing for personal use. Personal housing loan business is one of the main asset businesses of commercial banks. Refers to the loan issued by a commercial bank to a borrower for the first time to purchase a house (that is, a house sold to an individual after development and construction by a real estate developer or other qualified development subject). Personal housing loan mainly has the following three loan forms: (1) Personal housing entrusted loan is the full name of personal housing guarantee entrusted loan, which refers to the personal housing loan entrusted by the housing fund management center to commercial banks by using the housing provident fund. Housing provident fund loan is a policy personal housing loan, on the one hand, the interest rate is low; On the other hand, it mainly provides such loans to low-and middle-income workers who pay the provident fund. However, because the interest difference between housing provident fund loans and commercial loans is above 1%, both investors and ordinary people who buy houses and live in their own homes are more inclined to choose housing provident fund loans to buy houses. (2) Personal housing self-operated loans are loans granted to individual buyers with bank credit funds as the source. Also known as commercial personal housing loans, personal housing secured loans. (3) Personal housing portfolio loan refers to the loan issued to the same borrower with housing provident fund deposits and credit funds for the purchase of 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. Processing flow: 1. Loan application: the customer fills in and submits the application form and application materials designated by CCB. 2. Pre-lending investigation and interview: CCB interviewed the borrower and conducted pre-lending investigation. 3. Loan approval: CCB conducts loan approval. 4. Signing a contract: After the customer's loan is approved, sign a loan contract with CCB. 5. Loan issuance: CCB will issue loans after meeting the requirements. 6. Customer repayment: the customer repays the loan on time as agreed. 7. loan settlement.