There is no doubt that buying a house by loan is the first choice for most buyers at present, but every time we talk about this topic, there will be many questions, such as which bank to choose, whether my mortgage interest rate is high or low, and how much is the loan?

In fact, what I want to say is that these problems are really unsolvable. Why do you say that? Because these aspects are beyond our control. We should know that banks have many restrictions on loans. Comparatively speaking, it is more practical to consider the time of mortgage. Based on your question, if you want to buy a house with a loan, which is more cost-effective, 20 years or 30 years?

Because I don't know your actual situation, I can only give examples. Suppose you want to borrow 6,543,800 yuan to buy a house, and the mortgage interest rate is 5.5%. Moreover, we take 20 years and 30 years as an example to compare, which is mainly reflected in the pressure of interest and monthly supply.

1, choose 20 years mortgage time.

If the repayment method of equal principal and interest is adopted, the total interest generated in 20 years is 650,900 yuan, the total principal is 654,380 yuan+6509 yuan, and the monthly mortgage payment is 6878.87 yuan; If average capital's repayment method is adopted, it can also be calculated that the total interest generated in 20 years is 552,300 yuan, and the total principal is 654,380 yuan +0.5523 million yuan. The mortgage payment is 8750 yuan in the first month, 8730.9 1 yuan in the second month, and then it will decrease at the rate of 19. 1 yuan every month.

2. Choose a mortgage loan time of 30 years.

Similarly, according to the two methods of equal principal and interest and average capital, if the repayment method of equal principal and interest is adopted, the total interest generated in 30 years is 104.4 1 10,000 yuan, and the total principal is 2,044,5438+0,000 yuan, so the loan needs to be repaid every month. If average capital's repayment method is adopted, it can be concluded that the total interest generated in 30 years is 827,300 yuan, and the total principal is1827,300 yuan, of which 7361.1yuan is repaid in the first month, 7,348.38 yuan in the second month and1yuan every month thereafter.

In fact, we can find the difference between 20 years and 30 years through calculation, mainly in two aspects: interest and monthly pressure, but many people pay too much attention to the former and forget the latter. In most cases, the latter is often more stressful.

Although choosing a 20-year mortgage loan period can pay less interest, the monthly mortgage loan pressure is obviously greater than choosing a 30-year mortgage loan period. For example, if the repayment method of equal principal and interest is selected, the former will generate a mortgage loan of 6,878.87 yuan per month, while the latter will generate a mortgage loan of 5,677.89 yuan, which is about 65,438+0 per month, 200 yuan. The same is true of the average capital, which is about less than the former 1.388 yuan.

Generally speaking, my suggestion is that if you have a prepayment plan, you should give priority to the 20-year mortgage period, which can reduce interest. However, if you don't have this plan, and the monthly mortgage accounts for a high proportion or even most of your income, then you should choose a mortgage term of 30 years with equal principal and interest repayment. Although this is not the best choice, it is only the most suitable choice.

If you still have different opinions, you can comment below!

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