There is no difference between the benchmark interest rate for loans to buy a house for 1 years and 15 years, because more than 5 years is a grade, and less than 5 years is a grade. It's just that the monthly repayment amount is different.
Introduction to benchmark interest rate:
The benchmark interest rate is an interest rate with universal reference function in the financial market, and other interest rate levels or financial asset prices can be determined according to this benchmark interest rate level. Benchmark interest rate is one of the important prerequisites for interest rate marketization. Under the condition of interest rate marketization, financiers measure financing costs, investors calculate investment returns, and management's macroeconomic regulation and control all require a universally recognized benchmark interest rate level for reference. Therefore, in a sense, the benchmark interest rate is the core of the formation of interest rate marketization mechanism.
among them, the countries that take the interbank interest rate as the benchmark interest rate include London Interbank Offered Rate (Libor) in Britain, Federal benchmark interest rate (FFR) in the United States, Japan (Tibor) and the European Union (Euribor). Countries with the repo rate as the benchmark interest rate are Germany (1W and 2W repo rates), France (1W repo rate) and Spain (1D repo rate).
in China, the deposit and loan interest rate stipulated by the people's bank of China for national specialized banks and other financial institutions is the benchmark interest rate. Specifically, ordinary people regard the bank's one-year fixed deposit interest rate as the market benchmark interest rate index, while banks regard the overnight lending rate as the market benchmark interest rate. Is the interest rate the same for a 1-year mortgage and a 15-year mortgage?
For a 5-year mortgage, the reference is the LPR of a 5-year mortgage, so the interest rate for a 1-year mortgage and a 15-year mortgage is the same. However, the lower the loan term, the less total interest will be generated. Users must take many factors into account when choosing the loan term. Once a loan contract is signed, the loan term cannot be changed.
There are advantages and disadvantages to the long or short loan term. As long as it is in line with the actual situation of users, no matter whether the loan term is long or short, it is the most suitable for users.
Personal housing loan refers to the loan granted by the lender to the borrower for purchasing ordinary housing for personal use. Personal housing loan business is one of the main asset businesses of commercial banks. It refers to the loan opened by a commercial bank to the borrower for the borrower to purchase the first-time housing (that is, the housing sold to individuals after the development and construction of real estate developers or other qualified development entities).
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 with the housing provident fund. Housing provident fund loan is a policy-based personal housing loan, on the one hand, its interest rate is low; On the other hand, it mainly provides such loans for low-and middle-income workers who pay the provident fund. However, because the interest difference between housing provident fund loans and commercial loans is more than 1%, both investors and ordinary people who buy houses and live in their own homes prefer 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 loans refer to loans issued to the same borrower for the purchase of self-occupied ordinary housing from housing provident fund deposits and credit funds, and are a combination of personal housing entrusted loans and self-operated loans. In addition, there are housing savings loans and mortgage loans.
loan object
the loan object should be a natural person with full civil capacity. The borrower must meet the following conditions at the same time:
1. Have a permanent residence in the town or a valid residence status;
2. Have a stable occupation and income, good credit and the ability to repay the loan principal and interest;
3. Having a contract or agreement to purchase a house;
iv. for those who do not enjoy the house purchase subsidy, 3% of the total house purchase price shall be taken as the down payment; 3% of the individual who enjoys the house purchase subsidy shall be the down payment of the house purchase;
5. There are assets recognized by the lender as collateral or pledge, or units or individuals with sufficient compensatory capacity as guarantors;
VI. Other conditions stipulated by the lender. What is the difference in interest paid each year between 1 years and 15 years of loans?
There is little difference between 1 years and 15 years of loan. If the loan is 1, yuan, the annual interest rate is 4.9%, which is calculated according to average capital:
1. average capital Law: loan principal: 1, yuan, loan life: 15 years, assuming annual interest rate: 4.9%; Total principal and interest payable: 136,954.17 yuan, total interest: 36,954.17 yuan; The annual interest is 2463 yuan.
the principal repayment in the first month is 555.56, and the interest in the first month is 48.33; The first month * * * also: 963.89; Since then, the monthly repayment of the principal has been the same, and the monthly interest has declined slightly.
2. average capital method: loan principal: 1, yuan, loan term: 1, assuming annual interest rate: 4.9%; Total principal and interest payable: 124,74.17 yuan, total interest: 24,74.17 yuan; The annual interest is 247 yuan.
the principal paid in the first month is 833.33 yuan, and the interest in the first month is 48.34 yuan; The first month * * * also: 1241.67 yuan; Since then, the monthly repayment of the principal has been the same, and the monthly interest has declined slightly.
I. The meaning of average capital
average capital refers to a loan repayment method, which divides the total amount of loans into equal parts during the repayment period, and repays the same amount of principal and the interest generated by the remaining loans in that month every month. In this way, because the monthly repayment amount is fixed and the interest is getting less and less, the borrower is under greater repayment pressure at first, but the monthly repayment amount is getting less and less as time goes by.
Second, average capital's calculation formula
The biggest feature of average capital method is that the monthly repayment amount is different, showing a state of decreasing month by month; It divides the loan principal equally according to the total number of months of repayment, plus the interest of the remaining principal in the previous period, thus forming the monthly repayment amount, so the repayment amount in average capital method is the largest in the first month, and then decreases month by month, and the less it is, The calculation formula is:
monthly repayment amount = (principal/repayment months)+(principal-accumulated repaid principal) × monthly interest rate
monthly principal = total principal/repayment months
monthly interest = (principal-accumulated repaid principal) × monthly interest rate
total repayment interest = (repayment months +1)×