If1.2000 is paid back in ten years, the monthly payment will be 12720 yuan.

Use 12720* 120 months = 1526400 yuan, which is the total amount to be repaid.

Use 1526400- 1.2 million yuan =326400 yuan, which is the total interest of you 10, which is really not a small amount.

Extended data

1. 120w How can I repay the mortgage?

If a 30-year mortgage of/kloc-0.2 million yuan is provided, the monthly repayment amount will be calculated according to the repayment method selected by the user and the loan interest rate. The benchmark interest rate for 20 1 9 loans is 4.9% (more than 5 years). If equal principal and interest repayment (benchmark interest rate) is adopted, the monthly repayment of1.20,000 mortgage for 30 years is 6368.72 yuan, and the monthly repayment amount is the same; If equal principal repayment (benchmark interest rate) is adopted, the repayment amount in the first month is 8233.33 yuan, in the second month it is 82 19.72 yuan, in the third month it is 8206.1/yuan, and in the last month it is 3346.94 yuan. Therefore, users must choose the repayment method that suits them when handling loans, so as to arrange the expenditure of funds reasonably. Then there is the bank's loan interest rate may fluctuate on the basis of the benchmark interest rate when handling mortgage loans. It is best to consult different banks before lending.

Second, what is average capital?

The repayment method of average capital is to divide the total loan amount into several equal parts according to the total number of months in the repayment period, and repay the same amount of principal and interest generated by the remaining loans in the month every month.

Three, the average capital calculation formula:

Monthly repayment amount = (loan principal/repayment months)+(loan principal-accumulated amount of repaid principal) × monthly interest rate.

Monthly interest rate = annual interest rate12

Monthly repayment interest = (loan principal-accumulated repayment amount) × monthly interest rate

Monthly repayment of principal = loan principal/repayment months

Total repayment interest = (repayment months+1) × loan principal× monthly interest rate /2.

Total repayment amount = (repayment months+1) × loan principal× monthly interest rate /2+ loan principal.

About mortgage loan

1. Can I borrow money from the house purchase contract?

Mortgage loans can only do real estate licenses, and faster mortgage loans can do contracts. To apply for mortgage loan, you need originals such as real estate license, ID card, household registration book, marriage certificate/unmarried certificate, loan use information, etc.

1. First-hand houses can apply for mortgage loans. Bring mortgage contract, down payment certificate, lender's ID card, household registration book, marriage certificate/single certificate, etc. Developers usually provide phased guarantees until individuals obtain real estate licenses and complete mortgages.

2. If you are taking out a loan, the bank won't give you another loan only by the purchase contract. You need to settle the loan from the last bank, take out the real estate license, and then apply for a loan from another bank (or the original bank). Note that mortgage loans require proof of the use of funds, and you can buy a house, decorate it, buy a car, etc.

Second, what are the conditions for handling housing mortgage loans?

(1) Application materials

1, real estate license (the real estate license and land certificate in mortgage bank loans must be mortgaged to the bank).

2. Identity cards of the obligee and his spouse.

3. Household register of the obligee and spouse.

4. Marriage certificate of the obligee (marriage certificate or unmarried certificate issued by the Civil Affairs Bureau).

5. proof of income (this proof has a great influence on the success and higher amount of mortgage loans).

6. If the property owner has minor children, please provide birth certificate.

7. If there is a bank loan for the property, please provide the original loan contract and the subsequent bank statement.

8. In order to improve the pass rate of mortgage loan, please provide other family property certificates (such as other real estate licenses, stocks, funds, cash passbooks, vehicle driving licenses, etc.) as far as possible. ).

(2) Application conditions

1, a citizen of China (excluding Hong Kong, Macao and Taiwan), aged 18-65 years old, salaried workers and business people who have worked in the current unit for more than six months (if less than six months, but the work content of this unit is the same as that of the previous unit, and the working years of the previous unit can be accumulated).

2. There are no minors under the age of 18 and no adults over the age of 70 (including 70) among the owners of the mortgaged property.

3. If the property is mortgaged for the second time, 1 The mortgagee of the property must be a bank.

4. The borrower needs to own one or more sets of ownership houses (at least one set of ownership houses in this city).

(3) Personal property

1, original property certificate, house purchase contract and invoice.

2. Original ID card and household registration book.

3. Original spouse ID card/original property owner ID card.

4. Marriage certificate (marriage or unmarried certificate, divorce certificate or court verdict, widowed death certificate, property notarial certificate).

(4) Company real estate

1. Original property certificate, state-owned land use right certificate, house purchase contract and invoice.

2. Original legal person identity certificate, legal person power of attorney and agent's ID card.

3. Copy of business license (with official seal) and copy of organization code certificate (with official seal).

4. Articles of Association and resolutions of shareholders' meeting/board of directors.

(5) Construction in progress

1, land use certificate.

2. Construction land planning permit.

3, the construction project planning permit.

4. Construction permit.

5. Business license.

6. Pre-sale permit for commercial housing.

To sum up, without real estate license, it is difficult to apply for a loan with a house purchase contract. If individuals need to apply for loans, they need to know in advance the conditions and requirements for banks to apply for loans.