Whether to choose a 20-year or 30-year mortgage depends mainly on the customer's own economic situation and repayment ability.

If the customer's economic income level is not low, then 20 years is enough. There is no need to choose 30 years. If it takes too long, the sooner you pay your debts, the better. In addition, for more than ten years, we have to pay more interest. However, if the customer's economic income is average and the mortgage amount is relatively large, the monthly payment may not be low after 20 years, and the customer's repayment pressure will be relatively high. It is best to choose 30 years. After a long time, the monthly repayment amount will naturally decrease. In this way, the monthly payment burden of customers can also be reduced.

What is the difference between a 30-year loan and a 20-year loan? Is it still an early loss to borrow for 30 years? How to calculate the interest?

First, the difference between 30-year and 20-year loans.

There is a big difference between 30-year and 20-year loans, mainly in terms of interest. If the house loan is RMB 6,543.8+100,000 yuan, according to the current loan interest rate, the repayment amount and interest of commercial loans (the benchmark interest rate is 4.9%, and the mortgage interest rate has risen to 5.88% in many cities depending on local conditions) and housing provident fund loans (the mortgage interest rate is 3.25%) are different, as follows.

1, 20-year commercial loan: the mortgage interest rate is 5.88%, and the total repayment amount is 1702900 yuan, of which the total interest is 702900 yuan; The monthly repayment is 7095.25 yuan.

2. Commercial loan for 30 years: the mortgage interest rate is 5.88%, and the total repayment amount is 2130700 yuan, of which the total interest amount is1130700 yuan; The monthly repayment is 59 18.57 yuan.

3. Housing provident fund loan for 20 years: the mortgage interest rate is 3.25%, and the total repayment amount is 136 1300 yuan, in which the total interest amount is 36 1300 yuan, and the monthly repayment amount is 567 1.96 yuan.

4. Housing provident fund loan for 30 years: the mortgage interest rate is 3.25%, and the total repayment amount is 65.438+0.5667 million yuan, of which the total interest amount is 566.7 million yuan, and the monthly repayment amount is 4,352.06 yuan.

Whether using commercial loans or provident fund loans, the loan interest rate is the same, but the total interest is different. Often the longer the time, the more loans need to be repaid.

(Note: The above data are all from the Internet for reference only, and the actual data shall prevail. )

Second, does the loan still suffer losses 30 years in advance?

(a) loans 30 years in advance still suffer? Whether it is a loss or not needs to be analyzed according to the specific situation. There are three specific situations, and the following is an analysis.

1. If the loan with equal principal and interest does not exceed one third of the loan life, it is more cost-effective to repay it in advance.

2. If the average capital does not exceed a quarter of the total loan period, it can make partial prepayment.

If you want to pay off the loan as collateral, you don't need to consider other issues.

(2) Some people say that it is a loss to repay the loan 30 years in advance for the following reasons:

1, currency depreciation

If the monthly payment is 654.38 million now, the pressure will be great, but after 10, the currency will depreciate in 20 years, and 654.38 million will be very easy.

2. Increase in income

Generally speaking, with the passage of time, personal income will gradually increase. Mortgage may account for 80% of your income now, but it will probably only account for 50% or even lower in the future, and the pressure will be much less.

The interest has been paid back.

Take the repayment of equal principal as an example, the interest is decreasing every month, and the less it is. You have paid a lot of interest and taken on a lot of pressure in recent years. There is no need to settle accounts in advance at this time.

3. How to calculate the interest of the loan 30 years in advance?

How to calculate the interest of 30-year prepayment? If you want to know the interest of repaying the loan in advance for 30 years, you need to analyze it according to the specific situation. Here are three common situations.

1, prepay in full.

If the borrower applies to the bank for personal commercial housing loans and personal housing provident fund loans, with the consent of the lending bank, the borrower can repay all the outstanding principal in advance at one time, and the interest will be paid off together with the principal. The lender does not charge interest during the lead time, nor does it refund or reduce the loan interest charged at the original contract interest rate.

2. Partial advance payment

The loan term and interest rate remain unchanged according to the original loan contract, and the monthly repayment amount will be reduced accordingly after partial prepayment.

3. Shorten the repayment period

If the loan term is shortened, the original loan contract interest rate will remain unchanged, and the monthly repayment amount after partial prepayment will remain unchanged.

If one-time repayment is made in advance, the later interest will not be charged, but the part already paid will not be refunded. For some prepayment, the interest rate remains unchanged, but the monthly repayment amount remains unchanged or will be reduced accordingly. Specific interests need to be considered according to the actual situation.

Which is suitable for a 20-year or 30-year housing loan? Buyers need to think carefully.

; ? Buying a house is a major event in life and is generally treated with caution. However, due to the large amount involved in buying a house, many people will choose to buy a house by loan. When buying a house by loan, many borrowers will hesitate about the repayment period of the house. Which is suitable for a 20-year or 30-year house loan? Buyers need to think carefully!

Which is suitable for a 20-year or 30-year house loan?

Mortgage loan for 20 years and 30 years has its own advantages. The monthly payment for a loan of 30 years will be less than that for a loan of 20 years, so the repayment pressure will not be great. However, because the loan time is longer than 30 years, the interest to be paid when repaying the mortgage will be more. It is suggested that customers with certain financial resources and sufficient repayment ability choose to borrow for 20 years, and customers with average repayment ability choose to borrow for 30 years to avoid excessive repayment pressure and reduce overdue risk.

Most people will repay the loan in advance after they have finished the mortgage. After all, no one wants to pay more interest. But when repaying the loan in advance, it is necessary to judge whether it is necessary to repay the loan in advance. For example, the repayment time has passed one-third of the total repayment period, and most of the interest has been repaid, so there is no need to repay the loan in advance.

It is best to repay the mortgage in advance within 5 years. Note that banks will charge liquidated damages for early mortgage repayment, and different banks will charge different proportions of liquidated damages. You can call the bank before repayment. The repayment must be an integer multiple of 10 thousand, which needs everyone's attention.

There are two ways to repay the mortgage, namely, equal principal and interest and average capital; For the same loan amount and loan time, the interest of equal principal and interest is more than the average principal, and the interest of early repayment of equal principal and interest is more than the average principal, but the repayment pressure of equal principal and interest is small, so you can decide the repayment method according to your income.

The above is the related content sharing of "which is suitable for buying a house loan in 20 or 30 years". I hope it will help everyone!