Problem description:

I'm going to buy a 63-square-meter house with a provident fund loan, with a total price of 300 thousand and a down payment of more than 60 thousand.

My actual situation: My husband and I add up to a little more than 1800, with a monthly net income of 4,300 and an annual income of nearly 70,000.

Now there are two choices, which is more suitable for me, please give me some suggestions ~ I appreciate it.

One: monthly repayment, with a monthly repayment amount of 3,800 yuan, which will be paid off in six years.

Advantages: the monthly provident fund can be used for loans, with less pressure and shorter service life.

Disadvantages: 1 The balance of 30 thousand in the provident fund can not be fully withdrawn, because it is stipulated that the balance of the provident fund must be more than six times the monthly payment before applying for monthly repayment.

2. The interest is higher than the annual interest (according to others, it seems that the annual interest is the principal and the monthly interest is the principal plus interest).

The second is the annual loan rush (that is, take out the provident fund to rush the loan once a year)

The monthly repayment is 2500 yuan (all deducted from the monthly salary), and the service life is 10 years.

Advantages: 1, the balance in the provident fund can be completely taken out (so the money for decoration is gone)

2, a year to rush the principal, can reduce the total number of repayments, thereby reducing interest.

Disadvantages: 1, the monthly repayment pressure is relatively large, and the service life is long (it is uncertain whether the annual repayment will shorten the service life).

The main reason is that I can't calculate the repayment in advance, and I don't know which way is cost-effective in the end.

Master, give me some advice.

Analysis:

Both have their advantages and disadvantages. For example, in Shanghai, if the annual repayment, all rushed into the principal. For example, if you have a provident fund of 20,000 yuan, you don't need to calculate the interest of this 20,000 yuan after you rush into the loan at one time, so it is more cost-effective to repay it every year. However, for those who have just bought a house and feel the pressure of repayment, the monthly mortgage loan can solve the current problem, because there was a provident fund to mortgage the loan some time ago, and you don't have to pay the loan repayment separately. So it varies from person to person, but the total amount is more cost-effective year by year.